Dublin, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The "Global Cloud Robotics Market (2021-2027) by Component, Implementation Type, Connectivity, Service Model, Deployment Model, Application, End-user, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Cloud Robotics Market is estimated to be USD 4.9 Bn in 2021 and is expected to reach USD 20.17 Bn by 2027, growing at a CAGR of 26.6%.
Key factors such as the growing internet & cloud infrastructure, the rapid advancement of wireless technology, and broad-spectrum use of wireless technologies and smart devices have been driving the growth of the cloud robotics market. Nowadays, organizations across all business verticals are coming up with the adoption of smart factory systems. Hence, there is a huge demand for industrial robots. The growing demand for advanced automotive manufacturing is also driving the growth of the market.
Conversely, data privacy & security concerns, high initial costs of implementation, and R&D expenses are the major restraint for the market growth. Lack of technology is also hampering the growth of the cloud robotics market in the forecast period. Unemployment due to the deployment of cloud robotics is creating challenges for the market.
The Proliferation of the Cloud Technology
Broad Spectrum Use of Wireless Technologies and Smart Devices
Increase in the Adoption of IoT and Advancements in AI and Machine Learning Technologies
Data Privacy and Security Concerns
High Initial Costs and R&D Expenses
Increase in the Use of Robots for Industrial Automation
The rise in Demand for Robotics-As-A-Service (RaaS)
Growth Potential Across the Developing Nations
Longer Time to Commercialize the Robots
By Component, the Software segment is expected to hold the highest market share during the forecast period. The growth of the segment is attributed to the rising need for expanding businesses, building better applications, and the changing database environment. Cloud Robotics Software provides a platform that processes real-time applications such as collision avoidance and object recognition in the cloud. Thus, there is a rising demand for software component.
By Implementation Type, Clone Based Robots is estimated to hold the highest market share. In clone-based robots, the tasks can be divided between the robots or their clone in the cloud. Robotic clones can form an enhanced network connection for improved data transfer. Due to the rising demand for clone based robots for industrial applications, the market share is likely to grow in the coming years.
By Connectivity, the 3G segment holds the largest market share. The growth of this segment is due to its reliability, accessibility, and feasible features. However, the use of 3G connectivity has slowed down as more companies are introducing competitive products; thereby expected to limit the market growth in coming years.
By Service Model, Platform-As-A-Service segment expected to hold the maximum market share. The growth is attributed to the benefits offered by Paas platforms, such as access to multiple users, cost-effective, time-effective, scalability, and it is easy to run without extensive system administration knowledge. Also, Paas is built on virtualization technology, which is a more advanced technology.
By Deployment Model, Public Cloud Deployment is expected to hold the largest CAGR of the cloud robotics market. Mostly the cloud robotics developers prefer using the public cloud deployment model. It is cost-effective, easy to access, faster deploymnent, highly scalable, and flexible than the private and hybrid cloud. The public cloud services can be customized on a pay-per-use model, depending upon the requirements of the end-users.
By Application, Industrial Robots holds the maximum share during the forecast period. The rising adoption of the Smart Factory System and industrial revolution over the past decade is likely to fuel the market growth. With industrial robots development, programmed robots have achieved better performance levels in real-time applications, accuracy, robustness, and compatibility. Also, the availability of small-capacity and cost-effective requirements from small-and-medium-sized industries is influencing the adoption of industrial robots.
By End-user, the Manufacturing Vertical is expected to have the largest market share in the cloud robotics market. Manufacturers are utilizing robotics to increase the efficiency of production processes, quality control, predictive maintenance, and product innovation. This also helps companies in reducing the production time.
By Geography, North America is projected to lead the market. The majority of prominent market players such as IBM, Microsoft, Google, etc., are located in this region. The enterprises in this region are more inclined towards using advanced technologies based on cloud, AI, and machine learning technologies. The rising R&D activities and investments in the field of robotics are driving the market growth further. Asia Pacific region is also anticipated to grow at the highest growth rate during the forecast period. The region has a creditable amount of manufacturing units, which are gradually adopting the adoption of advanced technologies, such as cloud robotics, for enhancements of business operations.
The Global Cloud Robotics Market is segmented further based on Component, Implementation Type, Connectivity, Service Model, Deployment Model, Application, End-user, and Geography.
Some of the companies covered in this report are Google, IBM, Huawei, Kuka AG, C2RO, Hit Robot Group, Ortelio, ABB, Amazon Robotics, Aethon, Intel Corporation, etc.
The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Cloud Robotics Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using the Competitive Quadrant, the publisher's proprietary competitive positioning tool.
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview
4.2 Market Dynamics
5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Cloud Robotics Market, By Component
6.3.1 Consulting Services
6.3.2 Implementation Services
6.3.3 Training and Support Services
7 Global Cloud Robotics Market, By Type
7.2 Proxy Based
7.3 Peer Based
7.4 Clone Based
8 Global Cloud Robotics Market, By Connectivity
8.7 Infrared Connectivity
9 Global Cloud Robotics Market, By Service Model
10 Global Cloud Robotics Market, By Deployment Model
11 Global Cloud Robotics Market, By Application
11.2 Industrial Robots
11.3 Consumer Robots
11.4 Military Robots
11.5 Commercial Robots
12 Global Cloud Robotics Market, By End-user
12.2.3 Banking, Financial Services, and Insurance
12.2.4 Transportation and Logistics
12.2.5 Healthcare and Life Sciences
12.3 Third-Party Users
13 Global Cloud Robotics Market, By Geography
14 Competitive Landscape
14.1 Competitive Quadrant
14.2 Market Share Analysis
14.3 Competitive Scenario
14.3.1 Mergers & Acquisitions
14.3.2 Agreements, Collaborations, & Partnerships
14.3.3 New Product Launches & Enhancements
14.3.4 Investments & funding
15 Company Profiles
15.1 Amazon Robotics
15.8 Hit Robot Group
15.9 V3 Smart Technologies
15.10 Rapyuta Robotics
15.15 Fetch Robotics
15.16 Kuka Ag
15.17 Intel Corporation
15.18 Omron Adept Technologies
15.19 Softbank Robotics Group Corp.
15.20 Calvary Robotics
15.21 Rockwell Automation
15.22 Tech-Con Automation Inc
15.23 Fanuc Corporation
15.24 Yaskawa Electric
For more information about this report visit https://www.researchandmarkets.com/r/i0pva
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