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Billion Worldwide Cloud Robotics Industry to 2031
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Billion Worldwide Cloud Robotics Industry to 2031
This report provides strategists, marketers and senior management with the critical information they need to assess the global cloud robotics market.To get more news about GRS, you can visit glprobotics.com official website.
This report focuses on cloud robotics market which is experiencing strong growth. The report gives a guide to the cloud robotics market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global cloud robotics market is expected to grow from $5.74 billion in 2021 to $7.52 billion in 2022 at a compound annual growth rate (CAGR) of 31.17%. The cloud robotics market is expected to grow to $23.59 billion in 2026 at a compound annual growth rate (CAGR) of 33.07%.
Major players in the cloud robotics market are ABB Ltd, Microsoft Corporation, IBM Corporation, C2RO Cloud Robotics Inc., Amazon Robotics LLC, Hit Robot Group, Cloudminds Technology, Google, Rapyuta Robotics Co Ltd, Tend, V3 Smart Technologies Pte Ltd, Universal Robotics A/S, Intel Corporation, Omron Adept Technologies, Aethon, Fetch Robotics, and Telefonaktiebolaget LM Ericsson.The cloud robotics market consists of the sale of cloud robotics solutions by entities (organizations, sole traders, and partnerships) that refers to robotic solutions, which utilize technologies such as cloud computing, cloud storage, and other internet technologies.
The main types of cloud robotics include peer-based, proxy-based and clone based, and they are deployed over the private cloud, public cloud and hybrid cloud. The peer-based cloud robotics refers to robotics that runs on a computing unit in which the robot and each virtual machine are distributed in such a way that tasks can be divided into smaller modules for execution over a subset of the nodes in the computing. The end-user industries of cloud robotics include manufacturing, military & defense, retail & e-commerce, healthcare & life sciences, and other end-user industries.
North America was the largest region in the cloud robotics market in 2021 and is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
During the forecasting period, the increase in the use of robots for industrial automation along with the rising demand for robotics-as-a-service (RaaS) will drive the cloud robotics market. The automotive industry is increasingly shifting towards a robot-as-a-service model due to the increasing labour costs, labour shortage, and reduction in the cost of robotic systems.
For instance, according to the Association for Advancing Automation (A3) data, by 2025, utilization of cloud computing is expected to increase by 17% to 2018 levels, and Factories and industrial concerns in North America ordered a record 29,000 robots during the first nine months of 2021, a 37% increase from the previous year. Therefore, the increase in the use of robots for industrial automation along with the rising demand for robotics-as-a-service (RaaS) ultimately drives the cloud robotics market.
Technological advancement is a key trend gaining popularity in the cloud robotics market. Key players operating in the cloud robotics market are focusing on developing robotics and automation more broadly to strengthen their position in the market.
For instance, in November 2021, Amazon launched AWS IoT RoboRunner, a new robotics service-designed incubator program in collaboration with nonprofit MassRobotics to make it easier for enterprises to build and deploy apps that enable fleets of robots to work together and to tackle challenges in automation, robotics, and industrial internet of things (IoT) technologies.