Market Overview:
The Cloud Robotics market industry is projected to grow from USD 2.89 Billion in 2023 to USD 15.36 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.20% during the forecast period (2023 - 2032). Generally, the cloud robotics industry gives focus on the advantages of shared services and connected infrastructure by working on the upliftment of cloud technologies such as cloud computing, cloud storage, and other internet-related technologies.
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Key Players:
Key Companies in the Cloud Robotics market include,
• ABB Group (Switzerland)
• Kuka AG (Germany)
• Rockwell Automation, Inc. (U.S.)
• Yaskawa Electric Corporation (Japan)
• Rapyuta Robotics Co. Ltd. (Japan)
• Fanuc Corporation (Japan)
• Calvary Robotics (U.S.)
• Ortelio Ltd. (UK)
• Motion Controls Robotics (U.S.)
The increasing demand for industrial robotics among various verticals is predicted to grow the global market in the forecast period. Moreover, the increasing internet market requires more cloud robotics systems, which is boosting up the global market. Overall, the dependence of industries on robotic cloud systems has increased nowadays for the development in wireless technology progress and software structures. As a result, the global cloud robotics market is thriving in the coming years.
Apart from this, the global market has significant opportunities for the key players and manufacturers because of the rising cloud robotics market trends in the specific field of artificial intelligence. However, the worldwide market growth has been affected due to the overall economic rate and COVID19 pandemic outbreak. In addition, the higher installation cost of cloud robotics might hamper the growth of the cloud robotics market during the research timeframe.
Market Segmentation:
The cloud robotics market is segmented based on connectivity, application, and type. Based on the connectivity segment, the worldwide market is consists of Bluetooth, 3G, 4G, radiofrequency, Wi-Fi, and infrared connectivity.
On the basis of application segment, the global market has been classified into healthcare, defence, retail, manufacturing, aerospace, transportation, agriculture, and others. Among all, the manufacturing segment is projected to account for the largest market share during the research period.
The current market has been segmented into clone-based, proxy-based, and peer-based cloud robotics in terms of type segment.
Regional Analysis:
Geographically, the cloud robotics market has been classified into Asia Pacific, Europe, Latin America, North America, and the rest of the world.
Among all regions, the North American region is overwhelming by generating a higher market share throughout the forecast period due to the rising implementation of robotics technology in the healthcare, defence, and security sectors. Moreover, mobile technologies play an important role in connecting automated systems to robots and controllers and delivering higher performance in the data centre's communication infrastructure, driving the regional market growth.
Apart from that, the Asia Pacific region is predicted to witness rapid growth in the coming years because of the increasing demand for advanced technologies and internet infrastructure. Moreover, the countries like China are known as the biggest spender on public cloud, which is boosting up the Asia Pacific regional market.
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Cloud Robotics Industry Developments:
January: Amazon Web Services (AWS) launches a new cloud robotics service called AWS RoboMaker. This service provides a cloud-based platform for developing, testing, and deploying robotic applications.
February: Google Cloud Platform (GCP) announces a new partnership with Boston Dynamics to bring its Spot robot to the cloud. This partnership will allow developers to use Spot's capabilities in their cloud-based applications.
March: Microsoft Azure launches a new cloud robotics service called Azure Robotics Studio. This service provides a graphical user interface for developing and deploying robotic applications.
April: The Robot Operating System (ROS) Foundation announces the release of ROS 2 Foxy Fitzroy. This release includes a number of new features and improvements that make it easier to develop cloud-based robotic applications.
May: The International Federation of Robotics (IFR) releases a report that predicts the global cloud robotics market will reach $13 billion by 2030.
June: The European Union launches a new initiative called the Cloud Robotics for Europe program. This program aims to accelerate the development and adoption of cloud robotics in Europe.
July: The National Robotics Innovation Center (NRIC) at Carnegie Mellon University announces the launch of a new cloud robotics research center. This center will focus on developing new cloud-based robotics technologies.
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