The Cloud Robotics by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cloud Robotics, The cloud robotics market size has grown exponentially in recent years. It will grow from $9 billion in 2023 to $11.42 billion in 2024 at a compound annual growth rate (CAGR) of 26.9%. The growth in the historic period can be attributed to cost-efficiency and scalability, data storage and processing capabilities, globalization of supply chains, security and data privacy measures, remote monitoring and maintenance.
The cloud robotics market size is expected to see exponential growth in the next few years. It will grow to $30.05 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The growth in the forecast period can be attributed to decentralized cloud robotics architecture, focus on energy efficiency, robotic process automation (rpa) growth, customization and modular robotics. Major trends in the forecast period include 5g connectivity for low-latency communication, edge computing integration, robotics as a service (raas) models, digital twins for simulation and training, cross-industry adoption..
During the forecasting period, the increase in the use of robots for industrial automation along with the rising demand for robotics-as-a-service (RaaS) will drive the cloud robotics market. The automotive industry is increasingly shifting towards a robot-as-a-service model due to the increasing labour costs, labour shortage, and reduction in the cost of robotic systems. For instance, according to the Association for Advancing Automation (A3) data, by 2025, utilization of cloud computing is expected to increase by 17% to 2018 levels, and Factories and industrial concerns in North America ordered a record 29,000 robots during the first nine months of 2021, a 37% increase from the previous year. Therefore, the increase in the use of robots for industrial automation along with the rising demand for robotics-as-a-service (RaaS) ultimately drives the cloud robotics market growth.
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The cloud robotics market covered in this report is segmented –
1) By Implementation Type: Peer Based, Proxy Based, Clone Based
2) By Deployment Type: Private Cloud, Public cloud, Hybrid cloud
3) By End-User Industry: Manufacturing, Military and Defense, Retail and E-Commerce, Healthcare and Life Sciences, Other End-User Industries
Technological advancement is a key trend gaining popularity in the cloud robotics market. Key players operating in the cloud robotics market are focusing on developing robotics and automation more broadly to strengthen their position in the market. For instance, in November 2021, Amazon launched AWS IoT RoboRunner, a new robotics service-designed incubator program in collaboration with nonprofit MassRobotics to make it easier for enterprises to build and deploy apps that enable fleets of robots to work together and to tackle challenges in automation, robotics, and industrial internet of things (IoT) technologies.
The cloud robotics market report table of contents includes:
1. Executive Summary
2. Cloud Robotics Market Characteristics
3. Cloud Robotics Market Trends And Strategies
4. Cloud Robotics Market – Macro Economic Scenario
5. Global Cloud Robotics Market Size and Growth
…
31. Global Cloud Robotics Market Competitive Benchmarking
32. Global Cloud Robotics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cloud Robotics Market
34. Cloud Robotics Market Future Outlook and Potential Analysis
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