Cloud Robotics Market to Witness Lucrative Growth by 2023

Posted by BIS RSRCH on March 30th, 2021

Increase in demand for automation in small and medium enterprises, decline in cost of cloud robotics and enhanced efficiency have pushed the demand for cloud robotics across a wide range of end-users. Cloud robotics is a method where the computational and analytical part of the robots are shifted to the cloud in order to save infrastructural complexities and utilize larger memory and enhanced processing capabilities available on the cloud. Two major factors that are increasing the demand for cloud robotics include the enhancement in the overall productivity by using cloud robotics and reduction in infrastructural requirements in enterprises with the usage of cloud robotics. Cloud robotics is used across several end-users for a varied range of applications owing to several cost-related benefits. Some of the distinct features of cloud robotics include their remote operations, real-time analytics and higher operations efficiency. Therefore, the demand for cloud robotics across various end-users is on the rise since the inception of this term in 2010. In the span of past five years (2014-2018) industry has witnessed several product launches from key cloud robotics platform providers. In a nutshell, the ongoing developments underline a change undergoing in the robotics industry where cloud robotics is emerging as the next big thing.

In 1960s, a new concept was rising which was called “the cloud” which meant the remote access of the centralized servers of very high storage capacity and processing strength. During the same time the concept of cloud computing emerged. This concept was the intergalactic computer network, which shared the common storage space and processing strength and shifted the complex processing tasks to the cloud. During the last decade (2009-2018) the cloud-computing technology has served to revolutionize both the enterprise IT and supplier landscape. In addition, the cloud computing technology has evolved from being promoted by the service providers to becoming the mainstream requirement of most of the modern enterprises.

After 1960s, the cloud computing has gone through several changes and transformations. The cloud computing has witnessed several milestones. For instance, the arrival of in 1999 which enabled the delivery of enterprise applications through a simple website. After that, the second biggest milestone was the entry of players such as Google LLC and Microsoft Corporation in cloud computing ecosystem during 2009.

As the advancements in cloud computing is progressing and the industrial automation is also taking place at the rapid pace. The demand of robots in industrial environment is gaining popularity. Furthermore, the service robots are also gaining traction across commercial and residential end-users. This has gained pace in last decade (2009-2018) especially with the advent of Internet of Things (IoT) and the concept of connected devices. During the same time, in the year 2010, a new term was coined by James Kuffner which was “cloud robotics”. Cloud robotics primarily aims to join robots with cloud computation, cloud-storage and high speed communication resource. The main aim of the cloud robotics is to shift the computational and storage tasks to the cloud in order to reduce the burden on the device and utilize the higher storage and processing capabilities available on the cloud.

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The growth of the global cloud-based smart robotics market is driven by numerous factors that include growing popularity of connected robots across various industries, rise in popularity of industry 4.0, advancement in artificial intelligence technologies, the emergence of high speed 5G communication, increased productivity and efficiency at workplace, minimal infrastructure, and flexible operation, declining costs of cloud robotics and high return on investment, among others. Furthermore, the rise in awareness about cloud robotics is propelling its demand, especially in the developing nations. However, security related concerns and requirement of high initial cost are some of the factors that are restraining its market growth. Although, increase in investment and rise in trend of connected devices and IoT are some of the factors creating viable opportunities for players operating in the global cloud-based smart robotics market.

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Joined: March 5th, 2020
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