The Cloud Robotic Market is expected to grow from USD 4.44 Billion in 2020 to USD 12.13 Billion by 2028, at a CAGR of 0.1342 during the forecast period.
The goal of this study is to estimate the market size and growth potential of the cloud robotics market across various segments, including components (software and services), service models (Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Software as a Service (SaaS)), applications (industrial robots, military robots, commercial robots, and personal robots), deployment models, end-users (verticals and third-party users), end-users (region The main goals of the report are to analyze market opportunities for stakeholders, give specifics on the competitive landscape to market leaders, and provide a detailed analysis of the key factors (drivers, restraints, opportunities, challenges specific to the industry, and recent developments) influencing market growth.
During the COVID-19 epidemic, the need for work-from-home and remote working tools increased, which fueled the expansion of the worldwide cloud robotics market. The cloud robotics market prediction, however, may be hampered by the cloud robotics platforms’ complicated security and privacy issues. On the other hand, during the forecast period, a positive push toward centralized monitoring and control of industrial equipment is anticipated to give lucrative chances for market growth in cloud robotics.
Companies considered and profiled in this market study
Google (US), C2RO (Canada), Huawei (China),), Microsoft (US), CloudMinds (US), Hit Robot Group (US), IBM (US V3 Smart Technologies (Singapore), Amazon Robotics (US), Ortelio (UK), and Tend (US).
Industrial and manufacturing sectors are seeing an increase in demand for automation.
Robotic automation is now replacing several essential industrial tasks like welding, assembling, material handling, painting, and machining. These robots employ mechanical, electrical, and software technologies that can perform more quickly, accurately, and precisely than a typical human worker. Due to its great precision and speed in organized industry environments, automation in industrial robots has also been very successful.
Important Market Trends for Robotics in the Cloud
- At a CAGR of 0.1342 throughout the projected period, the cloud robotics market is anticipated to increase from USD 4.44 billion in 2020 to USD 12.13 billion by 2028.
- The increased use of mobile devices, wireless technology, and the increasing adoption of IoT are the main drivers of growth.
- As it requires less expensive algorithms to operate and has the advantages of being flexible, simple, and fairly economical, cloud deployment is predicted to grow more quickly than on-premise deployment in this industry. This is because it is more widely accepted by many businesses. Compared to on-premise maintenance, installation costs are also more reasonable.
Mode of Deployment (Revenue, USD Million; 2018–2028)
- Private Cloud
- Public cloud
- Hybrid cloud
Industries (Revenue, USD Million; 2018–2028)
- Banking and finance
- Healthcare & life science
- Transport and logistics
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- THE US
- Canada & Mexico
- the UK
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Rest of the World
- South America
- Middle East & Africa