According to Market Research Future Analysis, Cloud Robotics Market has been valued at USD 17 billion by 2022 growing with 29 % of CAGR during forecast period 2018 to 2022.
Cloud Robotics Market is the use of remote computing resources to enhance better memory, computational power, collective learning and interconnectivity between storage and robotic networks. Over the last few decades robotics has brought significant economic and social impacts to human lives. For instance, industrial robots especially robot manipulators have been widely deployed in factories to do tedious, repetitive tasks, such as assembly, painting, packaging and welding. Traditionally, the robots have been designed to perform repetitive pick-and-place tasks, to carry out operations that require a high degree of precision, as well as doing hazardous jobs like welding and cutting. Nowadays, things are changing, robots are used in all industries, and they are being used to carry out a huge variety of tasks through cloud.
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The internet and cloud infrastructure, quick progress of wireless technology, development of software frameworks & services for computational, storage, and communications infrastructure of modern data centers are the factors which are driving the global cloud robotics market. the growing investment by market players in developing cloud based technology solutions is expected to drive the market growth. Market leaders such as Rockwell Automation, ABB Group, and Fanuc Corporation among other big firms are investing million dollar into research & development sectors to launch new products and thereby pushing the overall growth of the market. However, computation challenges, security challenges, and cost constraints are some of the factors hindering the growth of the cloud robotics market in the forecast period 2016-2022.
According to Market Research Future Analysis, on the basis of type, the market can be divided into proxy based, peer based and clone based. On the basis of connectivity, the market can be bifurcated as Wi-Fi, 3G, 4G, 5G, RF and Infrared. 3G segment accounted for the largest market share. On the basis of end-users, the market includes, defense, manufacturing, transportation, agriculture, healthcare, retail, and aerospace among others. Manufacturing segment accounts for the largest market share because they are majorly used on assembly lines and in dangerous environments.
The key players of global cloud robotics market report include Rockwell Automation, Inc. (U.S.), Kuka AG (Germany), ABB Group (Switzerland), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), Rapyuta Robotics Co. Ltd. (Japan), Ortelio Ltd. (UK), Calvary Robotics (U.S.), Motion Controls Robotics (U.S.) and others.
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By Region, MRFR analysis shows that North-America will account for largest market share followed by Asia-Pacific and Europe. American countries especially U.S is the largest market in cloud robotics majorly due to rising demand for automation across industries, rapid development of wireless technology, and high growth in technically advanced cloud based software services. The developing nations has been growing at a fast pace. Countries such as China and India are expected to grow fast over the forecast period majorly as it is a manufacturing hub and increasing demand for advanced technologies in the developing nations.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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