Increase in the popularity of remote working, surge in demand for remote working tools, rapid industrialization, and rise in need for centralized monitoring and control of industrial tools are expected to drive the growth of the global clous robotics market. Significant increase in demand for robotics and automation solutions in various end-use industries during the pandemic had a positive impact on the market.
Portland, OR , Aug. 19, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cloud robotics market generated $4.62 billion in 2021, and is projected to generate $43.73 billion by 2031, manifesting a CAGR of 25.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Report coverage & details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Component, service model, robot type, enterprise size, industry vertical, and region
Increase in the popularity of remote working
Rise in need for centralized monitoring
Surge in demand for remote working tools
The outbreak of COVID-19 had had a positive impact on the growth of the global cloud robotics market, owing to the occurrence of lockdowns in various countries across the globe.
Lockdowns resulted in the decreased number of workforces across various industries, which subsequently surged the demand for cloud robotic as more and more industries were in need for centralized monitoring to take control of various industrial tools.
Thus, rapid industrialization and the growth in need for automation boosted the demand for cloud robotics.
In addition, evolving demand of the manufacturing industries along with the surge in demand for robotics and automation solutions in the healthcare and chemical industries further drive the growth of the market.
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The report offers a detailed segmentation of the global cloud robotics market based on component, service model, robot type, enterprise size, industry vertical, and region.
Based on component, the software segment held the dominating market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The service segment, on the other hand, is expected to cite the fastest CAGR of 27.3% during the forecast period.
Based on service model, the SaaS segment held the largest market share in 2021, garnering nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The IaaS segment, on the other hand, is expected to cite the fastest CAGR of 27.1% during the forecast period.
Based on robot types, the industrial robots segment held the dominating market share in 2021, garnering nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The service robots segment, on the other hand, is expected to cite the fastest CAGR of 27.5% during the forecast period.
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Based on industry vertical, the manufacturing segment held the dominating market share in 2021, holding around four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The aerospace and defense segment, on the other hand, is expected to cite the fastest CAGR of 28.8% during the forecast period.
Based on region, the market across Asia-Pacific held the largest market share in 2021, holding more than two-thirds of the global cloud robotics industry, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 26.0% during the forecast period. The report also analyses other regions such as North America, LAMEA and Europe.
The key players analyzed in the global cloud robotics market report include IBM, Kuka AG, Microsoft, Ortelio Ltd., Rapyuta Robotics Co. Ltd., Rockwell Automation Inc., ABB, Amazon Robotics, C2RO, Calvary Robotics, CloudMinds, Fanuc Corporation, Google, Hit Robot Group, Huawei, V3 Smart Technologies, and XTend Robotics.
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The report analyzes these key players of the global cloud robotics market. These market players have made remarkable use of numerous effective strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. These players also tend to increase their competitive edge in the market with the help of these strategies. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by leading players of the market.
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