According to the current report published by Market Research Future (MRFR), the global cloud robotics market is anticipated to strike a CAGR of 29% between 2016 and 2022. MRFR reveals that, by 2022, the global market of cloud robotics is all set to touch a valuation of USD 17 Bn.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
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Currently, cloud technology is booming. The growing inclination of companies towards automation is surging the demand for robotics. In case of cloud robotics, robots can easily access cloud benefits, such as storage, communication, and computation of resources available on the modern data center in cloud. The global cloud robotics market is anticipated to capitalize on advantage of higher productivity offered by the technology.
Actuation, control, sensation, ubiquitous, and convenience are essential elements of cloud robotics that are proving to be extremely beneficial for different verticals. Hence, cloud robotics is noted to gain high significance in an IT ecosystem of different industries. Developments in cloud-based connectivity and artificial intelligence are contributing as infrastructural support for cloud robotics. Hence, a large number of enterprises are observed to adopt cloud robotics to streamline their business activities and achieve high productivity within a short time span. In addition, trending wireless technology and upgradations of digital platforms are expected to benefit the market. On the contrary, high installation expenses and lack of technical expertise are certain factors that are likely to constrain the global cloud robotics market expansion.
The cloud robotics market is segmented by type, connectivity, and application.
By application, the market is classified into manufacturing, aerospace, retail, defense, transportation, agriculture, and healthcare.
By connectivity, Covid 19 Cloud Robotics Market is segmented into 3G, Wi-Fi, 4G, infrared connectivity, RF, and Bluetooth. The 4G segment is expected to contribute significantly to the expansion of the global cloud robotics market. Robust connectivity offered by 4G network and smooth network proviosion for internet applications are likely to spur the global market growth.
By type, the market is segmented into peer based, clone based, and proxy based robotics.
Europe, Asia Pacific (APAC), and North America are major regional segment of the cloud robotics market. North America is likley to be at the forefront of global cloud robotics during the assessment years. The cloud robotics market in the United States, followed by Canada, is likely to experience high growth rate. This is due to surge in the adoption of robotics technology across verticals, such as defense, security, and health care. In addition, the presence of advanced mobile technologies and robust network infrastructure are expected to cast a positive impact on the North America market.
In the Asia Pacific region, cloud robotics is playing a significant role in revolutionizing industries. Along with the rising trend of industrial automation, verticals of the region are upscaling their performance with cloud robotics. Rapidly industrialization and increase in the adoption of cloud robotics are factors that are expected to surge the APAC market. Such technologies are improving operational efficiency and curbing managerial burdens, which, in turn, are to boost the regional market growth. Hence, the cloud robotics market in the Asia Pacific is likely to show good health in the coming years. Besides, the growing awareness about the technology and the presence of developers in strong economies, such as China, India, and Japan are additional factors that are expected to boost the APAC market growth.
MRFR listed some of the prominent market key players in the global cloud robotics market. They are; Kuka AG (Germany), Rockwell Automation, Inc. (U.S.), Fanuc Corporation (Japan), ABB Group (Switzerland), Rapyuta Robotics Co. Ltd. (Japan), Yaskawa Electric Corporation (Japan), Calvary Robotics (U.S.), Ortelio Ltd. (UK), Motion Controls Robotics (U.S.), and others.
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