Cloud Robotics Market- By Component (Hardware, Software, and Services), By Implementation Type (Peer Based, Proxy Based, and Clone Based), By Connectivity Technology (Bluetooth, Wi-Fi, 3G, 4G, 5G, Radio Frequency (RF), and Infrared), By Application (Industrial Cloud Robotics, Professional Service Cloud Robotics, and Personal Service Cloud Robotics) and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Cloud Robotics Market was valued at USD 4.0 billion in 2020 and it is expected to reach USD 30.1 billion by 2030 with the CAGR of 22.3% during 2020-2030. Cloud robotics is the combination of robots and automation systems which share data and code to perform computation via networks enabling greater memory, computational power and collective learning. In cloud robotics, rather than relying solely on large on-board processing system, it can use programs on the cloud to process data and perform calculations. Along with computation, the cloud provides cloud robots with a large database of information including video and image analysis and mapping. In addition, the cloud facilitates the sharing of data from robot learning. Cloud robots that are connected to a common network can share data with one another and each individual robot can use this information to make decisions based on what it learned from the group. Increasing adoption of smart devices and rising cloud streaming services are supplementing the cloud robotics market growth.

Market Dynamics and Factors:

 Rising demand for robots across industries and rapid progress of wireless technology are the major drivers for the growth of the global cloud robotics market. Moreover, increase in the adoption of IoT and accumulation of the cloud technology is also contributing in the market growth.  A forecast from International Data Corporation (IDC) estimates that there will be 41.6 billion connected IoT devices present which were 26.66 billion in 2019. Furthermore, the use of cloud based Artificial Intelligence (AI) and Machine Learning (ML) technologies are likely to shape the development of the cloud robotics market significantly over the forecast period. However, lack of technical expertise is hampering expected to hamper the growth of cloud robotics market to some extent. Moreover, the emergence of the 5G technology in the cloud robotics creates immense opportunities for the cloud robotics market growth.

Market Segmentation:

Based on the component, the global cloud robotics market is segmented into hardware, software and services. On the basis of implementation type, the market is segmented into peer based, proxy based and clone based. According to connectivity technology, the market is segmented into Bluetooth, Wi-Fi, 3G, 4G, 5G, RF and infrared. By application, the market is divided into industrial cloud robotics, professional service cloud robotics
and personal service cloud robotics. By geography, the market is divided into North America, Asia Pacific, Europe, and RoW.

Geographic Analysis:

In terms of revenue, North America dominates the global cloud robotics market owing to the adoption of robotics technology in the field of defense, security & health care and advancements to cloud computing. Moreover, the presence of a large number of enterprises such as IBM, Microsoft, Google, and Amazon Robotics is further driving the growth cloud robotics market in this region. Asia-Pacific is expected to grow at a fast pace over the forecast period majorly due to growing penetration of cloud computing and increasing demand for advanced technologies. From Asia-Pacific, the automation adoption rate in China, India and Japan is the highest in the world.

Competitive Scenario:

The key players of global cloud robotics market are Google, Microsoft Corporation, ABB Ltd, Mitsubishi, Amazon Robotics LLC, Rapyuta Robotics, IBM Corporation, NVidia Corporation, Cruise LLC and Brain Corp.

Cloud Robotics Market Report Scope