Cloud Robotics Market, By Technology Type (Peer Based, Proxy Based, Clone Based), By Connectivity (Wi-Fi, Bluetooth, 3G, 4G, 5G), By Application (Defense, Manufacturing, Retail, Agriculture, Healthcare), By Region - Global Analysis Forecast Till 2030

The cloud robotics market was estimated at $4.12 billion in 2021 and is predicted to grow at a CAGR of 26.3% from 2022 to 2030, reaching $42.73 billion by 2030.

Cloud robotics is a branch of robotics that attempts to support robotics by leveraging the benefits of converged infrastructure and shared services by utilizing cloud technologies such as cloud computing, cloud storage, and other Internet technologies. When connected to the cloud, robots can take advantage of the massive processing, storage, and communication resources available in today's cloud data centers, which can analyze and exchange data from multiple robots or agents (other machines, smart objects, humans, and others).

Market Dynamics

Drivers:

Cloud robotics market growth is expected to be driven by the proliferation of cloud technology, broad spectrum use of wireless technologies and smart devices, increased adoption of IoT, and advancements in AI and machine learning technologies. Many industrial processes are being automated, including painting, machining, material handling, welding, and assembling. These robots use electrical, mechanical, and software systems to perform the assigned task with greater accuracy, speed, and precision than humans. Furthermore, due to its high precision and speed in structured factory environments, automation in industrial robots has been very successful. However, in order to be deployed in unstructured environments, these robots must be integrated with network technologies. As a result, robots are now interconnected via the cloud, allowing them to access datasets to support various functions remotely.

Restraints:

One of the major concerns with cloud robotics is security and privacy. Hosting confidential data with cloud service providers involves handing over control of data security to the cloud service providers. Every cloud contains significant information from the client, including personal data. If a household robot is hacked, users' personal privacy and security may be jeopardized, putting the user at risk. Furthermore, hacked robots can engage in illegal or dangerous activities, resulting in serious accidents. As a result, such issues are expected to stymie market growth during the forecast period.

Key players:

• Kuka AG  

• Fanuc Corporation 

• Rapyuta Robotics Co. Ltd.

• Calvary Robotics 

• Rockwell Automation Inc.

• Yaskawa Electric Corporation

• ABB Group 

• Motion Controls Robotics

• Ortelio Ltd.

Market Segmentation:

By Type

• Peer Based

• Proxy Based

• Clone Based

By Connectivity

• Wi-Fi

• Bluetooth

• 3G

• 4G

• 5G

By Application

• Defense

• Manufacturing

• Retail

• Agriculture

• Healthcare

By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Regional Analysis:

During the forecast period, North America will have the largest share of the cloud robotics market. This is because most vendors, including IBM, Microsoft, Google, and Amazon Robotics, are headquartered in North America. The region iis regarded as the most advanced in terms of cloud, AI, and machine learning technologies. Many R&D activities in the field of robotics are taking place in the region in order to advance cloud computing, AI, robotics, and machine learning technologies.

Asia Pacific (APAC) is predicted to grow at the fastest CAGR during the forecasted period, owing to the region's large number of manufacturing units, which are gradually adopting advanced technologies.

Scope of the Report:

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