Cloud robotics is used in distant computer resources to boost the memory, processing capacity, collective learning, and interconnection of computers. Robots may now access the vast processing, storage, and networking resources found in contemporary data centres. A few emerging fields where cloud robotics is enormously being adopted are security and surveillance, Logistics, entertainment, personal assistance and care, entertainment, and guidance. These are the chief factors to back the growth of cloud robotics over the forecast period.
COVID-19 Impact & Market Status
The unfolding of the fatal virus COVID-19 in the early 2020 outbreak led to growth disruption in the worldwide cloud robotics market. The shutdown caused by the coronavirus compelled almost all the countries across the world to announce strict lockdown restrictions. This factor led to a downfall in demand for various products as the disposable income of consumers went down. However, as the industries resumed their operations post ease in the lockdown, the demand for cloud robotics went up tremendously. Social distancing protocols and a prohibition on social gatherings opened up new avenues for the cloud robotics market. To ensure less human interaction in person, cloud robotics was being utilized on a massive scale and will be utilized in the coming years as well.
The significance of cloud robotics will be fueled by rising industry demand for automation.
Automated robots are now taking the role of humans in a number of industrial processes, including welding, material handling, machining, and painting. These robots require electrical, mechanical, and software systems to carry out the assigned task with a higher level of accuracy, speed, and diligence and subsequently enhance manpower productivity. For instance, automation in industrial robots has been proven very successful due to its high accuracy and speed in structured factory environments. As a result, it is projected that throughout the projection period, the adoption of automation in various industries would support the growth of the worldwide cloud robotics market. Additionally, ongoing research and development in the areas of artificial intelligence and associated technologies is probably going to speed up the implementation of cloud robots worldwide.
Demand for Advanced Technologies Will Help the Software Sector Grow
Over the forthcoming years, hardware and software segments will surely experience new avenues being opened up for it. It is owing to the surging demand for advanced technologies like platform as a service (PaaS), and robotics as a service (Raas), the software segment of cloud robotics may gain a hike in meantime.
The Asia Pacific to Emerge as Most Lucrative Regional Market
Over the course of the forecast year, significant opportunities are expected to arise in nations like China and India in the Asia Pacific area.Emerging nations are also certain to catch up with the rising prevalence of advanced technologies witnessed in the region. For instance, the market is forecast to acquire traction across emerging markets across the globe.
The global cloud robotics market was valued at USD 20.1 billion in 2022 and is anticipated to reach USD 30.12 billion by the end of 2029, growing at a CAGR of 37% over the forecast period. 2022-to 2029.
The blend of cloud technology with the robotic system has enabled the construction of sophisticated and high-performance multi-robot systems. This trend is being driven by big data, cloud computing, and other emerging technologies. The extension of industrial robots has been led by the increasing penetration of IoT and expenditure on robotics.
The growing adoption of connected services in robotics, collaboration with several IT companies, and many others are chief components driving the expansion of the cloud robotics market. Over the upcoming years, cloud-based AI and connectivity are certain to experience a gigantic impact on the growth on the demand front. Moreover, many IT companies have generated AI-based solutions which are now being used ubiquitously. In response, to the investments being made by companies in the robotics business, new cloud robotics solutions will be rolled out surely. The growing prevalence of connected is also taking place robots in the market owing to expanding cloud streaming services, increasing use of smart devices among folks, and bandwidth evolution.
It is due to the implementation of smart manufacturing systems, that industrial robots have been witnessing an uptick in demand over the past decade. With the advancement in industrial robots, programmable robots have acquired a top level of accuracy, storage, and compatibility with real-time applications. For instance, machines, linking robots, and automation equipment is anticipated to allow cloud manufacturers to get the most out of their automation systems regarding performance and credibility.
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The key participants of the global cloud robotics are Universal Robots, Yaskawa Electric Corporation, Kuka AG, Hardware manufacturers, Rockwell Automation, Inc., Fanuc Corporation, and ABB Group.
Latest Innovations in the Global Cloud Robotics Market: A Snapshot
- Use of Infrared Sensors: Cloud robotics utilizes the data acquired from sensor networks and robots, which create an ecosystem for gathering information and reusing the large dataset on the requirement. In a robotic operating system, there are numerous nodes. Nodes, which publish sensor data into messages, are the infrared sensors' drivers. Many additional nodes that are connected over a network use these messages.
- Improved Clone-Based Implementations: As cloud robotics become more widely used, clone-based robots are now being created on the market at an exponential rate. In the clone-based robots, the tasks or applications can be segregated between the robots and its clone in the cloud. Robotic clones create an enhanced network with robust connectivity for better data transfer and connectivity. Moreover, CA Technologies has developed cloning systems for several robotic applications.
Cloud Robotics Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2029 |
| Study Period | 2018-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 30.12 billion |
| Growth Rate | CAGR of 37 % during 2021-2029 |
| Segment Covered | Application, Product, Service Model, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | Universal Robots, Yaskawa Electric Corporation, Kuka AG, Hardware manufacturers, Rockwell Automation, Inc., Fanuc Corporation, and ABB Group. |
Key Segments of the Global Cloud Robotics Market
Application Overview, 2022-2029 (USD Billion)
- Customer Robots
- Military Robots
- Industrial Robotics
- Commercial Robots
Product Overview, 2022-2029 (USD Billion)
- Software
- Hardware
- Services
Service Model Overview, 2022-2029 (USD Billion)
- PaaS
- IaaS
- SaaS
Regional Overview, 2022-2029 (USD Billion)
- North America
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- The US
- Canada
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- Europe
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- UK
- Germany
- France
- Rest of Europe
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- The Asia Pacific
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- China
- Japan
- India
- Rest of Asia Pacific
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- South America
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- Brazil
- Mexico
- Rest of South America
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- Middle East & Africa
Frequently Asked Questions (FAQ) :
The market value of Cloud Robotics market projected to reach USD 30.12 billion.
The Cloud Robotics market is growing at a CAGR of 37% over the forecast period.
To get latest version of Cloud Robotics market report can be obtained on demand from the website.
The Asia Pacific region has a comparatively higher market stake in the Cloud Robotics market