ALBANY, New York, January 21, 2019 /PRNewswire/ --
The presence of a limited number of players has created a
consolidated market structure in the global cloud robotics market.
The competition among these companies is likely to increase, as
they are involved in research and development activities on a large
scale. The leading players are focusing on expanding their product
portfolio by using advanced technologies. These factors will help
the players to get a stronger hold in the market and keep them at
par by competing with players. Top-notch companies are also
associated with mergers and acquisition to get a high share in the
market. According to the report, Kuka AG, Rockwell Automation,
Inc., ABB Group, Yaskawa Electric Corporation, Fanuc Corporation,
Tend.ai, Universal Robotics A/S, Rapyuta Robotics Co. Ltd.,
HotBlack Robotics Srl, Calvary Robotics, and Motion Controls
Robotics are some of the leading players operating in the
market.
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As per the report published by Transparency Market Research, the
global cloud robotics market is likely to exhibit a staggering CAGR
of 32.4% over the forecast tenure between 2016 and 2024. By the end
of 2024, the market valuation is likely to reach US$21.9 bn progressing from US$ 1.38 bn earned in 2015.
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Based on component, the hardware segment held 74% share in the
global market in 2015 and highest share in terms of revenue.
However, the demand for the software segment is likely to increase
at a significant rate in the coming years. This growth is
attributed to the rising demand for software such as platform as a
service (PaaS) and robotics as a service (RaaS). In terms of
geography North America, bag the
largest share in the market. In 2015, North America held maximum share in the
market. However, during the forecast period, Asia Pacific is likely to dominate the market
as more and more emphasis is given to advanced technologies in
emerging countries.
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Rising Demand for Cloud Services to Benefit Market
Performance
The demand for cloud robotics has gained similar popularity as
compared to artificial intelligence. The application of cloud
robotics is also seen in multiple industries including logistics,
entertainment, monitoring, and education. Swift growth in
automation has thrived integration of cloud robotics mainly to
improve working efficiency in different industries. Moreover, with
the use of electrical, software, mechanical systems that are used
in cloud robotics together provide precision, speed, and accuracy.
Therefore, installations of cloud robotics on regular functioning
will significantly improve the working at a larger scale. Moreover,
cloud connectivity will provide better and improved data storage
capacity, collective learning solutions, and augmented brainpower.
Pertaining to all the above-mentioned factors, the demand in the
global cloud robotics market is projected to rise at a significant
rate.
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Increasing Number of Data Threats to Deter Demand in Cloud
Robotics Market
Despite the growing demand in the global cloud robotics market,
few restraining factors might deter the market's growth. The
issues with data threats and security, a large number of people
still refrain in deploying cloud robotics on regular basis. Due to
some malicious activities online subjugated a large number of data
from some popular social media sites. In this case, a huge amount
of critical information and personal data of clients was stolen
costing a lump sum of money. However, with the development of 5G
technology, cloud robotics platform is anticipated to be safer,
faster, and speedier. The growing use of 5G technology is expected
to grow at a significant rate that will trigger the demand in the
global cloud robotics market.
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The information presented in this review is based on a TMR
report, titled "Cloud Robotics Market (Component - Hardware,
Software (Infrastructure as a Service (IaaS), Robotics as a Service
(RaaS), Platform as a Service (PaaS), and Robotics Application
Software), and Services (System Integration and Connectivity
Services); Implementation Type - Peer Based, Proxy Based, and Clone
Based; Connectivity Technology - Bluetooth, Wi-Fi, 3G, 4G, 5G, RF,
and Infrared; Application - Industrial Cloud Robotics (Automotive,
Defense, Manufacturing, and Transportation & Logistics),
Professional Service Cloud Robotics (Agriculture, Healthcare
(Hospitals & Clinics), Aerospace (Travel & Tourism), and
Retail), and Personal Service Cloud Robotics (Entertainment,
Education, and Personal Healthcare)) - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2016 - 2024."
The Global Cloud Robotics Market has been segmented as
presented below:
Global Cloud Robotics Market, by Component
- Hardware
- Software
- Infrastructure as a Service
- Robotics as a Service (RaaS) & Platform as a Service
- Robotic Application Software
- Services
- System Integration
- Connectivity Service
- Other professional services
Global Cloud Robotics Market, by Implementation
Type
- Peer Based
- Proxy Based
- Clone Based
Global Cloud Robotics Market, by Connectivity
Technology
- Bluetooth
- WI-Fi
- 3G
- 4G
- 5G
- RF
- Infrared
Global Cloud Robotics Market, by Application
- Industrial Cloud Robotics
- Automotive
- Defense
- Manufacturing
- Transportation & Logistics
- Others
- Professional Service Cloud Robotics
- Agriculture
- Healthcare (Hospitals & Clinics)
- Aerospace (Travel & Tourism)
- Retail
- Others
- Personal Service Cloud Robotics
- Entertainment
- Education
- Personal Healthcare
- Others
Global Cloud Robotics Market, By
Geography:
- Europe
- U.K.
- Italy
- Spain
- France
- Germany
- Rest Of Europe
- Asia Pacific
- China
- India
- ASEAN
- Rest Of Asia Pacific
- Japan
- Latin America
- Brazil
- Mexico
- Rest of South America
- Middle East &
Africa (MEA)
- GCC
- South Africa
- Rest of MEA
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