GLOBAL CLOUD ROBOTICS MARKET FORECAST 2019-2027
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Cloud robotics is the use of remote computing resources through the internet and other connected technologies that permit greater memory, computational ability, collective learning and interconnectivity that allows real-time access to the physical robot and control over its operation.
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The global market for cloud robotics is valued at $ xx million in 2018 and is expected to reach $ xx million by the end of the forecast period 2019-2027. This particular market is estimated to grow at a CAGR of 24.03% from 2019 to 2027.
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The cloud robotics market has undergone many changes and transformations due to perturbations in the closelyrelated market for cloud computing, gradually achieving major levels of adoption by the service providers to becoming the mainstream requirement for most of the current modern enterprises.
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The uptake of smart manufacturing and the popularity gained by interconnected robotics are mainly increasing the demand of the global market for cloud robotics.
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Business model, component, end user, deployment model and geography have segmented this market, out of which, the component segment is the largest contributor to its market share.
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This can be accredited to the segment’s software subsegment which has a wide application in image processing and uses in face recognition and threat detection and others demanding requirements of the current domestic crowd as well as the industrial sector.
“The global market for cloud robotics is valued at $ xx million in 2018 and is expected to reach $ xx million by the end of the forecast period 2019-2027. This particular market is estimated to grow at a CAGR of 24.03% from 2019 to 2027.�
The North America region dominated the cloud robotics market by contributing the colossal share in 2018. The region generated the highest revenue in the global cloud robotics market and is evolving at 22.41% of CAGR throughout the forecasting period. The key factor responsible for this rapid growth are the presence of a high number of organizations, increased penetration of
The cloud robotics Europe market is growing with 21.53% of CAGR during the estimated years of 20192027. The active adoption of cloud robotics in industrial, commercial, automotive and residential sectors and increased research and development activities are the major reasons responsible for the growth of the cloud
The cloud robotics market in the Asia Pacific region is driven by the smart manufacturing (industry 4.0) boosting the demand for cloud robotics and increased popularity of the connected robots among domestic users. The market is advancing at the highest growth rate of 26.71% throughout the estimated period of 20172025. However, high set-up cost and security concern are the major factors restraining the market growth in the
Some of the major corporation and enterprises that have heavily promoted and invested in the global market for cloud robotics are Microsoft Corporation, Omron Adept Technologies, Inc., Aethon, Amazon Robotics LLC, C2RO Cloud Robotics, Cisco Systems, Inc., Cloudminds, Fetch Robotics, Inc., Huawei Technologies Co. Ltd., IBM Corporation, Intel Corporation, Kuka AG, Ortelio Ltd., Rapyuta Robotics Co. Ltd. and Softbank Robotics Group Corporations.