Cloud Robotics Market Growing at CAGR of 28.1% | Key Players Amazon Robotics, Google, Huawei, IBM, Microsoft

October 02 09:38 2019
Cloud Robotics Market Growing at CAGR of 28.1% | Key Players Amazon Robotics, Google, Huawei, IBM, Microsoft

Amazon Robotics (US), Google (US), Huawei (China), IBM (US), Microsoft (US), C2RO (Canada), CloudMinds (US), Hit Robot Group (US), V3 Smart Technologies (Singapore), Rapyuta Robotics (Japan), Ortelio (UK), and Tend (US)
Cloud Robotics Market by Component (Software and Services), Service Model (IaaS, PaaS, and SaaS), Application, Deployment Model (Public, Private, and Hybrid Cloud), End-User (Verticals and Third-Party Users), and Region – Global Forecast to 2022

Cloud robotics is a field of the robotics industry. It provides the benefits of shared services and converged infrastructure by merging cloud with robotics. Cloud robotics uses cloud technologies, such as cloud storage, cloud computing, and other internet technologies and amalgamates with robotics, to offer high-end services to various end-users and robot manufacturing companies. These services engage remote computing resources to feature a better memory, high computational power, and interconnectivity within robotics’ applications. Cloud robotics enables data and resource sharing among a fleet of robots. MarketsandMarkets forecasts the Cloud Robotics Market to grow from USD 2.20 billion in 2017 to USD 7.51 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.1% during the forecast period.

The global cloud robotics market has experienced a rapid growth in the past few decades. The high level of operational complexities involved in the management of industrial processes have encouraged robotics providers to adopt the cloud technology in robotics. Cloud robotics is an important part of any business. The growing needs of various industries for effectively meeting diverse customer demands in the highly competitive business environment has brought a surge in the demand for cloud robotics solutions. Vendors in the cloud robotics market offer various solutions and services, which assist in better functioning and performing of robots for ensuring maximum profitability.

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In the services segment, the training and support services segment is expected to grow at the fastest growth rate during the forecast period. These services are designed to provide a wide range of service offerings that help meet the specific needs of customers who require maximum benefits from their hardware and software. These services also assist the robot manufacturers and integrators in successfully implementing the cloud robotics solutions.

In the service model, the Platform as a Service (PaaS) segment is expected to have the highest CAGR during the forecast period. This is because, it enables enterprises to develop, run, and manage software and tools, without the hassle of maintaining and updating the hardware and software infrastructure. Enterprises of all sizes are globally adopting the PaaS service model, because of its simplicity, scalability, and reliability. In addition to this, PaaS applications have a high adaptability rate, because they have the latest features, such as easy upgradation.

Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period in the global cloud robotics market. With diversified geographic areas and a high customer base, the APAC region is expected to exhibit a strong growth in the cloud robotics market. The growth in this region is primarily driven by the growing number of manufacturing units that are gradually embracing the adoption of advanced technologies, such as cloud robotics.

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The key players in the cloud robotocs market include Amazon Robotics (US), Google (US), Huawei (China), IBM (US), Microsoft (US), C2RO (Canada), CloudMinds (US), Hit Robot Group (US), V3 Smart Technologies (Singapore), Rapyuta Robotics (Japan), Ortelio (UK) and, Tend (US). These players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product launches, to achieve growth in the global cloud robotics market.

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