Global Statistics Representing Cloud Robotics Market Scenario
Industrial automation and robotics are engendering a trailblazing era of technological advancements. The advent of robots integrated with cloud technology is projected to render numerous benefits with efficient robotic automation solution to businesses, encompassing food production, retail, healthcare, and distribution operation, among other sectors.
The rising adoption of robotics technology to facilitate autonomous delivery, robotic assistants such as mobile virtual assistant, and increasing cloud infrastructure are projected to drive the demand for cloud robotics during the forecast period, 2019–2026. Initiatives and funding in cloud robotics across the globe are expected to offer lucrative opportunities for the cloud robotics market in the near future. For instance, the Google Cloud Robotics initiative offers a new approach to intelligent automation; the platform will cover fundamentals for robotics, ensuring secure connectivity between robots and the cloud. Furthermore, RoboEarth, funded by the European Union’s Seventh Framework Programme, offers an open-source cloud robotics framework, enabling robots to share knowledge via WWW-style database and access potential robotic cloud services.
The global cloud robotics market is expected to grow at a CAGR of 28.7% during the forecast period, 2019–2026.
In the context of industrial automation, the demand for industrial robots is likely to drive the demand for cloud robotics, on account of the increasing awareness regarding automation and industrial revolution for optimizing industrial processes. Digital transformation in the automation sector has enabled burgeoning automation services to embrace technological advancements and new business models. For instance, in May 2019, IBM announced its partnership with European companies such as Volkswagen, Moovster, and Vinturas to revamp the future of the automotive industry with a blend of hybrid cloud and AI, fostering the demand for cloud robotics in the transportation sector.
Geographically, the global cloud robotics market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East and Africa (LAMEA).
North America is expected to flourish as it is home to noteworthy market players such as IBM, AWS, Google, and Microsoft actively engaged in robotics, AI, cloud, and deep learning technologies. For instance, in November 2018, Amazon Web Services, Inc. (AWS) announced the launch of the AWS RoboMaker, which serves as a platform to optimize and ameliorate the robotics development process. It utilizes the cloud-based service and open-source robotics software framework – Robot Operating System (ROS), allowing developers to develop and test robotics applications.
Europe, followed by Asia-Pacific, is expected to witness significant growth in the cloud robotics market due to funding and investments in several projects and initiatives for robotics technology by the European Union. The European Commission funds over 100 collaborative projects for advanced research on robotics. For instance, according to the European Union, SPARC – a research and innovation programme in civilian robotics formed by the joint initiative between the European Commission, the robotics industry, and academia – is expected to reach investments worth up to 2.8 billion euro with 700 million euros in financial investments from the European Commission under Horizon 2020 over 7 years.
The cloud robotics market in LAMEA is expected to witness substantial growth due to developing infrastructure, agility of cloud solutions, and inclination towards embracing technological advancements such as AI, robotic process automation, and humanoid robotics across several industrial segments such as energy & utility, manufacturing, retail, BFSI, and healthcare, among others.
Some of the prominent players in the global cloud robotics market are Amazon Robotics, Google, Huawei, IBM Corporation, Microsoft, C2RO, CloudMinds, Hit Robot Group, V3 Smart Technologies, Rapyuta Robotics, Ortelio, Tend, KUKA, Omron, and Softbank.
Cloud Robotics Market Segmentation
By Deployment Model
By End User