Description
Cloud robotics Market
Global Cloud robotics market to surpass USD 13 billion by 2030 from USD 5.2 billion in 2020 at a CAGR of 27.4% in the coming years, i.e., 2021-30.
Product Overview
Cloud robotics business promotes cloud technologies such as cloud storage, clouds computing, and a variety of other internet-related technologies, with a focus on the benefits of connected infrastructure and shared services. It allows robots to take advantage of sophisticated data centers’ high processing power, storage capacity, and resources. The quantity of benefits provided by the global market is the primary reason for its growing popularity. The job unloading process increases faster with faster data transfer rates, which meets the real-time requirements.
Market Highlights
Global Cloud Robotics Market is expected to project a notable CAGR of 27.4% in 2030.
Both robotics applications and cloud-based technologies are used in the worldwide market, making cloud robotics the most efficient. One of the next developments in the artificial intelligence industry is cloud robotics. The worldwide cloud robotics market has reached its peak thanks to the integration of robots and cloud technology.
Global Cloud robotics market: Segments
Public segment to grow with the highest CAGR during 2020-30
Global Cloud Robotics Market is segmented by deployment model into Public, Private, and Hybrid Cloud. In comparison to private and hybrid cloud deployment types, the public cloud deployment type is predicted to have the biggest market share. Because of its cost-effectiveness and benefits, most cloud robotics developers prefer to employ the public cloud deployment paradigm. In comparison to the private cloud, the public cloud is much more scalable, versatile, and cost-effective. Depending on the needs of the end-users, public cloud services may be provided for free or on a pay-per-use basis. Because of the ease of access and speedier implementation, cloud storage providers choose the public cloud deployment approach. In 2020, the manufacturing vertical is predicted to have the greatest market share in the cloud robotics industry, according to the verticals segment. Manufacturers are constantly expanding their demand for robotic devices as they hunt for ways to improve their operational efficiencies while lowering costs. Robotic arms are utilized to replace manual labor in the industrial business. Robot simulations are helping manufacturers improve the efficiency of their manufacturing processes, quality control, predictive maintenance, and product innovation.
Services segment to grow with the highest CAGR during 2020-30
Global Cloud Robotics market is divided by components into Software and Services. Due to the increased requirement for developing businesses and constructing better applications, as well as the changing database environment, the software category is predicted to have the largest market share during the projection period. As a result, innovative and versatile robot cloud software solutions for solving diverse difficulties are projected to be required. The training and support services section in the services segment is predicted to increase at the quickest rate throughout the projection period. These services are designed to give a diverse range of service options to fulfill the unique needs of clients who demand the most out of their hardware and software. These services also help robot manufacturers and integrators execute cloud robotics solutions successfully.
Market Dynamics
Drivers
High performance
The combination of cloud technology with robotic systems enables the construction of multi-robot systems with high performance and complexity, owing to the improvement of cloud computing, big data, and other developing technologies. The expansion of industrial robots has been fueled by the IoT’s increasing penetration and robotics expenditures.
Industrial robots
Due to the implementation of smart factory systems, industrial robotics has seen a surge in demand over the last decade. With the advancement of industrial robots, programmable robots have attained great levels of accuracy, resilience, and compatibility in real-time applications.
The adoption of industrial automation is influenced by the availability of small-capacity and cost-effective solutions from small and medium-sized businesses. Aside from that, linking robots, machines, and automation equipment to the cloud allows manufacturers to get the most out of their automation systems in terms of performance and reliability.
Restraint
High installation cost
The benefits of the worldwide cloud robotics market are numerous, resulting in significant industry growth. However, the market faces some obstacles that could limit market expansion over the next several years. Because of the higher installation costs, businesses are less likely to adopt the technology and instead choose a less expensive alternative. Another important problem in the market is a lack of technical expertise in the industries, which is limiting market expansion.
Global Cloud robotics market: Key Players
Amazon Robotics (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Google (US)
Huawei (China)
IBM (US)
Microsoft (US)
C2RO (Canada)
CloudMinds (US)
Hit Robot Group (US)
V3 Smart Technologies (Singapore)
Rapyuta Robotics (Japan)
Ortelio (UK)
Tend (US)
Other Prominent Players
Global Cloud robotics market: Regions
Global Cloud Robotics Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Cloud robotics market in North America held the largest market share of XX% in the year 2020. During the forecast period, North America is estimated to have the highest share of the cloud robotics market. The reason for this is that the bulk of vendors are situated in North America, including IBM, Microsoft, Google, and Amazon Robotics. In terms of cloud, AI, and machine learning technologies, the area is predicted to account for the majority of market share and is regarded the most advanced region. Many robotics R&D activities are taking place in the region in order to enhance cloud computing, AI, robotics, and machine learning technologies.
Global Cloud robotics market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Cloud robotics market report also contains analysis on:
Cloud robotics market Segments:
By Deployment Type
Public
Private
Hybrid Cloud
By Component
Software
Services
Cloud robotics Market Dynamics
Cloud robotics market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Cloud robotics Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 5.2 billion
Revenue forecast in 2030 USD 13 billion
Growth Rate CAGR of 27.4% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered component, deployment, and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Amazon Robotics (US), Google (US), Huawei (China), IBM (US), Microsoft (US), C2RO (Canada), CloudMinds (US), Hit Robot Group (US), V3 Smart Technologies (Singapore), Rapyuta Robotics (Japan), Ortelio (UK), and Tend (US) Other Prominent Players.
Frequently Asked Questions
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