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Cloud robotics is a technology that combines robotics and cloud computing. The development in cloud computing, big data, cloud storage is expected to offer potential growth for the market. The cloud-connected robots offer intelligent communication resources, high storage options, real-time computational dynamics, and more. The increasing adoption of the internet of things, connected devices, artificial intelligence, and machine learning is likely to enhance the cloud robotics capabilities. It offers real-time data transfer that helps in reducing the task duration anticipated to boost the market.
The advancements in mobile cloud robotics are likely to drive the market. The rising demand for 5G is likely to create vast opportunities for the market in the coming years. Rising demand for robotics and automation across industries such as manufacturing, automotive, logistics, healthcare and more is expected to drive the cloud robotic demand. The cloud robotics application in warehouse management is to drive the demand. Also, the Robot as a Service (RaaS) is likely to gain traction owing to its capability of integrating robots and embedded devices in the cloud environment seamlessly.
Key Market Driver -
• Increasing adoption of robotics across the industries is likely to drive the market growth. • The rising demand for self-driving cars is likely to drive the cloud robotics demand in automotive industry
Key Market Restraint -
• Privacy and security concerns are likely to challenge the market
Cloud Robotics providers in the global market include ABB Ltd, Microsoft Corporation, IBM Corporation, CNC Robotics Ltd., Amazon Robotics LLC, C2RO Cloud Robotics Inc., Huawei Technologies, CloudMinds, Google LLC, V3 Smart Technologies, Rapyuta Robotics, Robocloud, among others. The growing market is encouraging the key cloud provider such as Google LLC, Microsoft Corporation, Amazon LLC to invest in the cloud robotics market. The companies are offering advanced services by integrating technologies such as internet of things, AI, machine learning and more.
North America is expected to have the largest market share during the forecast period. The rapidly growing demand for advanced technologies such as artificial intelligence, machine learning, cloud computing, internet of things, is to drive the market. US is expected to grow owing to the significant presence of cloud providers such as Google LLC, Microsoft Corporation, Amazon LLC, and more in the country. The country is also witnessing the exponential growth of industries such as automotive, manufacturing, logistics and more. This is expected to boost the demand for cloud robotics market. Europe is expected to grow steadily owing to the increasing demand for robotic automation in automotive industry. The robotics industry is witnessing growing investments in the Europe. The significant growth in industries of Germany and France are likely to boost the market growth.
Asia Pacific is anticipated to show exponential growth during the forecast period owing to the increasing penetration of cloud computing, robotics, and automation. Countries such as China, India, Japan, and South Korea are witnessing a surge in demand for automation. According to the International Federation of Robotics (IFR), in 2017 Asia Pacific has witnessed strong growth in industrial robotics. China is expected to lead the market is a key robot manufacturer.
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