Cloud Robotics Market 2020: Key vendors and Trends by Forecast to 2022
Posted by Eshu Gupta on November 20th, 2020
As per the latest report published by Market Research Future (MRFR), the global cloud robotics market is projected to surge at a CAGR of 29% from 2016 to 2022 and reach a valuation of USD 17 Bn. Cloud robotics has emerged as primary segment of cloud technology, which is a combination of cloud storage, cloud computing and other internet technologies. They are collectively applied to create converged infrastructures. Cloud robotics hold tremendous potential in an IT ecosystem of an industry. The fact that cloud robotics has characteristics of both cloud and robotics makes it a technology ready for the future. Its functionalities are based on elements such as actuation, sensation, control, ubiquitous, and convenience.
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Rising automation trends and increased credibility of cloud infrastructure is paving the way for cloud robotics. Industries are increasingly focusing on automation to achieve economies of scale, which is leading to development of cutting-edge robotics technologies such as cloud robotics. Such factors are supporting the growth of the cloud robotics market. At the same time, continuous progress in wireless technology and development of innovative digital platforms is reflecting favourably on cloud robotics. On the other hand, the high installation cost and lack of technical expertise is hindering cloud robotics market prospects.
The report includes a detailed segmental analysis of the market based on application, connectivity and type. Based on application, the market has been segmented into manufacturing, agriculture, retail, aerospace, defensem, transportation and healthcare. Based on connectivity, the market has been segmented into 3G, 4G, Wi-Fi, RF, infrared connectivity and Bluetooth. Among these, the 3G segment accounts for the largest share of the market. This primarily owing the high proliferation of 3G network across the global. 3G has emerged as the standard network for internet applications. Based on type, the market has been segmented into clone based, peer based, and proxy based robotics.
The market has been covered across regions such as Europe, North America, and Asia Pacific (APAC). North America is expected to stay at the forefront of global cloud robotics market during the review period. Countries such as the US and Canada are witnessing high adoption of robotics technology in verticals such as security, defense and health care. In addition, the existence of advanced network infrastructure and mobile technology is also having a positive impact on the market in the region. Robotics with cloud technology is the next frontier in industrial automation, which is being realized by business all around the world. Such technologies not only improve operational efficiency but also help in reducing managerial burdens. The market in Asia Pacific (APAC) is also expected to exhibit a healthy growth over the next five years. Rising demand for technologies that can improve industrial out and create growth opportunities for economy is having positive impact on the region’s market. Moreover, increased focus towards improving internet infrastructure is also creating lucrative prospects for the market in APAC.
Some of the leading companies operating in the global cloud robotics market include Kuka AG (Germany), Fanuc Corporation (Japan), Rapyuta Robotics Co. Ltd. (Japan), Calvary Robotics (U.S.), Rockwell Automation, Inc. (U.S.), Yaskawa Electric Corporation (Japan), ABB Group (Switzerland), Motion Controls Robotics (U.S.) and Ortelio Ltd. (UK).
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About the AuthorEshu Gupta
Joined: July 8th, 2020
Articles Posted: 58
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