In 2021, the global cloud robotics market attained a significant value of US$ 5.5 billion. Forecasts indicate that this market is set for substantial growth, projected to reach approximately US$ 12.9 billion by 2030. This expansion is driven by a compelling compound annual growth rate (CAGR) of 21.4% during the forecast period from 2022 to 2030.
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Market Dynamics
Numerous factors are shaping the growth of the cloud robotics market:
- Efficient Performance: The effective performance of cloud robotics is a primary driver of market growth. Integrating cloud technology with robotic systems leads to high-performance multi-robot systems with applications spanning various industries.
- IoT Penetration: The increasing adoption of the Internet of Things (IoT) contributes to the growth of the cloud robotics market. The ability to connect and manage robotic systems via the cloud enhances their capabilities.
- Rising Robotics Expenditure: An upsurge in spending on robotics, coupled with advancements in industrial and programmable robots, leads to improved accuracy, resilience, and compatibility, fostering market growth.
- Accessibility to Low-Cost Automation Systems: Small and medium-sized enterprises are benefiting from affordable, small-capacity industrial automation systems, spurring their uptake.
- Investments in Cloud Sector: Increasing investments in the cloud sector are further propelling market growth.
Impact of COVID-19
The COVID-19 pandemic initially disrupted the cloud robotics market due to lockdown restrictions. This led to supply chain disruptions that hampered the market. However, cloud robotics saw an upswing in demand as industries sought solutions for social distancing and reduced human contact. Sectors such as healthcare, food & beverage, and aerospace adopted cloud robotics to minimize the risk of infection.
Regional Analysis
- North America: North America dominates the cloud robotics market and is expected to maintain the largest share during the projected period. This dominance is attributed to the presence of major vendors like IBM, Microsoft, Google, and Amazon Robotics. The region’s emphasis on AI and machine learning technologies fuels the adoption of cloud robotics.
Key Market Competitors
Leading companies in the cloud robotics 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)
- Tend (US)
- Other Prominent Players
Market Segmentation
The global cloud robotics market is segmented by deployment type and component:
- Deployment Type:
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Component:
- Software
- Services
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