PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1536667
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1536667
Cloud Robotics Market size was valued at USD 7,401.21 million in 2023, expanding at a CAGR of 17.52% from 2024 to 2032.
Cloud robotics involves using cloud infrastructure to process and analyze data for robots, enabling them to perform complex tasks and learn from each other's experiences. The Cloud Robotics Market is an emerging sector that integrates cloud computing technologies with robotics to enhance their performance, scalability, and collaboration capabilities. Cloud robotics reduces the need for expensive onboard processing power and storage in robots, as these resources are offloaded to the cloud. This can significantly lower the cost of developing and maintaining robotic systems. However, Storing and processing sensitive data in the cloud raises concerns about security and privacy. Ensuring robust cybersecurity measures and compliance with regulations is a significant challenge. Innovations in AI, machine learning, and network technologies will further propel the market, making robots more intelligent, efficient, and collaborative.
Cloud Robotics Market- Market Dynamics
Increasing integration of AI and machine learning in cloud robotics
The integration of AI and machine learning in cloud robotics is transforming the field by enabling more advanced and intelligent robotic systems. Cloud robotics leverages vast amounts of data collected from various sensors and sources. AI and machine learning algorithms process this data to provide valuable insights and enable predictive analytics. AI and machine learning enable better coordination and collaboration between multiple robots, leading to more efficient task execution and resource utilization. According to the stats, the integration of artificial intelligence (AI) into a wide range of technology products and business activities is being actively pursued by 22% of companies. 33% of businesses are using AI in a limited way. 45 percent of businesses are still in the research stage. The integration of AI and machine learning in cloud robotics is paving the way for more intelligent, efficient, and adaptable robotic systems, transforming various industries and enhancing the capabilities of robots.
Cloud Robotics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 17.52% over the forecast period (2024-2032)
Based on component segmentation, Services was predicted to show maximum market share in the year 2023
Based on connectivity technology segmentation, 4G/5G was the leading type in 2023
Based on application segmentation, Military and Defense was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Cloud Robotics Market is segmented on the basis of Component, Application, Deployment Model, Connectivity Technology, End User, and Region.
The market is divided into three categories based on component type: Hardware, Software, and Services. The SaaS category had 42% of the cloud robotics market share based on the service model in 2023. Businesses can leverage cloud robotics capabilities with SaaS without having to make large upfront investments in software development or infrastructure because it provides a scalable and cost-effective solution. For businesses wishing to swiftly implement cloud robotics solutions, this subscription-based model is perfect because it enables speedy Robot Type, smooth upgrades, and simple scaling. Cloud robotics is a fast-expanding subject, and SaaS guarantees accessibility and communication across geographically distributed teams, fostering efficiency and innovation.
The market is divided into five categories based on connectivity technology: Wi-Fi, Bluetooth, 4G/5G, RFID, and Infrared. Cloud robotics has developed thanks in large part to 4G/5G connectivity. Despite having comparatively slower data transfer speeds than more recent generations, this technology has been essential for enabling data transmission and basic remote robot control. 4G/5G networks were necessary for several early cloud robotics applications, including telemedicine and simple industrial automation.
Cloud Robotics Market- Geographical Insights
In 2023, the cloud robotics market in North America accounted for around 33% of global revenue. Robot Type and cloud robotics development are well-founded in the nation's robust cloud computing ecosystem and robust technological infrastructure. Cloud-connected robot use has increased across multiple industries, including manufacturing, logistics, healthcare, and transportation, as a result of the COVID-19 pandemic's acceleration of the need for automation and remote solutions. In addition, a strong startup scene and large R&D expenditures boost innovation and competition, putting the United States at the forefront of the industry.
Major players in the Cloud Robotics Market include Google, Amazon Web Services (AWS), IBM, NVIDIA, Intel, Oracle, etc. AWS offers a suite of cloud services that support robotics applications, including data storage, processing, and machine learning. Microsoft provides cloud solutions with a focus on integrating AI and robotics through its Azure cloud platform. IBM's cloud platform and AI solutions, such as IBM Watson, are used in various robotic applications. Cisco Systems expertise in networking and IoT, focus on edge computing, and robust security. Microsoft provides cloud services for robotics through its Azure Robot Operating System (ROS) and Azure IoT services, enabling advanced data processing and analytics for robotic systems. Many players are integrating AI and machine learning capabilities into their cloud platforms to enhance robotic functionalities, such as autonomous decision-making and predictive maintenance. Companies are forming partnerships with robotic manufacturers and software developers to expand their ecosystems and provide more comprehensive solutions. Players with a strong global presence and localized support are better positioned to serve diverse markets and address regional needs.
In December 2022, ABB RobotStudio Promised to enable teams to collaborate on robot programming and simulation from anywhere in the world, on any device. Its aim to continue to develop innovative and flexible solutions to help businesses overcome challenges, respond to changing customer needs, and thrive in an age of increasing digitalization.
In May 2024, Vention, the cloud robotics company, released a suite of AI-powered capabilities to its Manufacturing Automation Platform (MAP). These new capabilities, available immediately to the more than 4,000 manufacturers already using Vention, strengthen the company's position as the only end-to-end platform to design, automate, order, deploy, and operate automated equipment and robot cells in the cloud.
GLOBAL CLOUD ROBOTICS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Amazon Web Services (AWS)
Microsoft Azure
IBM
NVIDIA
Intel
Oracle
Cisco Systems
Bosch
KUKA Robotics
Yaskawa Electric Corporation
Others