The global cloud robotics market is growing at a significant CAGR during the forecast period. Cloud robotics is an emerging field of robotics which utilizes remote computing resources to enable greater computational power, memory,and interconnectivity for robotics and collective learning for robotics applications. Additionally, it comprises characteristics of cloud-based technology as well as robotics. Cloud robotics is capable of integrating with other machines and humans. Moreover, there is a high interest in cloud robotics from educational institutions, governments, and industries across the globe.
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The major factor driving the global cloud robotics market is the increased adoption of high-tech machines. An application of cloud robotics in various end-user industries such as agriculture is significantly assisting in the growth of the market. Utilization of cloud robotics in agriculture has made controlling and operations more refined in addition the advancement in the agriculture sector is anticipated to further propel the growth of the market. Furthermore, cloud-based artificial intelligence and connectivity are likely to aid the development of cloud robotics owing to high investment in AI-based systems. These high investments in robotics market will the open doors for new innovation in cloud-robotics too and ultimately will lead to high demand in the near future.
Furthermore, with the new developments going on in the market and high adoption rate smartphone and fitness band, as well as Increasing adoption of smart devices,are significantly contributing to the growth of the market. Additionally, there is a rise in adoption of cloud-robotics in defense & security sector which is further propelling the growth. Cloud-robotics is also being utilized to enhance the performance of old robots and implement new skills and technologies in them such as walking, running, speaking and others hence increasing the demand for cloud-robotics. However, lack of user guidance, low adoption rate and high cost associated with cloud-robotics is restraining the growth of the market.
The key players dominating the cloud robotics market include companies such as 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).. These players adopt various strategies such as mergers & acquisitions, products, and services offering expansion, geographical expansion, and partnership & collaboration to stay competitive in the market. Moreover, the key players are launching new products to stay competitive in the market. For instance, in May 2019, Rapyuta Robotics Co., Ltd. announced that the company is going to collaborate with Microsoft Japan for the promotion of Rapyuta Robotics’ Cloud Robotics platform, rapyuta.io. The platform is the company’s first Cloud Robotics platform developed for enterprise use and currently runs on Microsoft Azure. Rapyuta Robotics is aiming to grab the market across the globe with the aid from Microsoft’s global presence.
Global Cloud Robotics Market– Segmentation
By Deployment Model
By Service Model
By End-User
Global Cloud Robotics Market- Region
North America
Europe
Asia-Pacific
Rest of the World
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