Internet of Robotic Things Market by Platform, Service, Software, Smart Robot Component

List of Tables

The Internet of Robotic Things Market was valued at USD 24.28 billion in 2023, expected to reach USD 28.72 billion in 2024, and is projected to grow at a CAGR of 18.31%, to USD 78.83 billion by 2030.

The Internet of Robotic Things (IoRT) represents the integration of autonomous robotic systems with the connectivity and data capabilities of the Internet of Things (IoT). This convergence enables robots to gather, process, and transmit data, fostering improved interaction with their environment. The necessity of IoRT lies in its potential for enhancing operational efficiency, decision-making, and productivity across various sectors. Applications span from industrial automation, healthcare, and smart homes to logistics and agriculture. End-use industries leverage IoRT for tasks that require precision, real-time analytics, and adaptive solutions.

KEY MARKET STATISTICS
Base Year [2023]	USD 24.28 billion
Estimated Year [2024]	USD 28.72 billion
Forecast Year [2030]	USD 78.83 billion
CAGR (%)	18.31%

Market insights reveal several growth drivers, including the increasing adoption of IoT technologies, advancements in AI and robotics, and the need for enhanced automation in industries. Opportunities emerge from sectors like healthcare, where IoRT can revolutionize patient monitoring and remote surgeries, and in agriculture, optimizing crop management through predictive analytics. To capitalize on these opportunities, businesses should focus on developing robust connectivity frameworks and investing in AI-driven analytics to maximize the potential of IoRT-enabled solutions.

However, the market faces limitations such as high implementation costs, concerns over data privacy and security, and the complexity of integrating IoRT with existing systems. Additionally, regulatory challenges and the need for standardized protocols can hinder widespread adoption. Businesses looking to innovate should concentrate on developing secure communication channels, effective data management strategies, and scalable IoRT platforms.

Research and innovation can significantly thrive in areas around AI integration, data interoperability, and energy-efficient robotics. As the technology evolves, there is potential for IoRT systems to become more autonomous and self-learning, reducing human intervention. The nature of the IoRT market is dynamic, with rapid technological advancements and evolving consumer expectations, necessitating continuous adaptation and responsive strategies to remain competitive. Companies that successfully navigate these challenges and leverage emerging technologies stand to gain a competitive edge in the increasingly interconnected world of robotic things.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Internet of Robotic Things Market

The Internet of Robotic Things Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing adoption by e-commerce industry
- Increasing use of smart devices, automation in manufacturing process
- Rise in availability of network infrastructure and urbanization
Market Restraints
- High cost of research & development
Market Opportunities
- Growing demand of robots in education sector
- Growing areas of application due to the surge of robot adoption
Market Challenges
- Data security and interoperability issues

Porter's Five Forces: A Strategic Tool for Navigating the Internet of Robotic Things Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Internet of Robotic Things Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Internet of Robotic Things Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Internet of Robotic Things Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Internet of Robotic Things Market

A detailed market share analysis in the Internet of Robotic Things Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Internet of Robotic Things Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Internet of Robotic Things Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Internet of Robotic Things Market

A strategic analysis of the Internet of Robotic Things Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Internet of Robotic Things Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aethon Inc., Cisco Systems, Inc., Exail, Fanuc, Corp., Google, Inc. by Alphabet, Inc., Honda Motors Co., Ltd., iRobot Corp. by Amazon.com, Inc., Kuka AG by Midea Group, Microsoft Corporation, Northrop Grumman Corporation, Omron Corporation, Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Yaskawa Electric Corporation.

Market Segmentation & Coverage

This research report categorizes the Internet of Robotic Things Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Platform, market is studied across Application Management Platform, Device Management Platform, and Network Management Platform.
Based on Service, market is studied across Managed Services and Professional Services.
Based on Software, market is studied across Data Management, Network Bandwidth Management, Real Time Streaming Analytics, Remote Monitoring System, and Security Solution.
Based on Smart Robot Component, market is studied across Actuators, Control systems, Power source, and Sensors.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-E904459C52EA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing adoption by e-commerce industry
  - 5.1.1.2. Increasing use of smart devices, automation in manufacturing process
  - 5.1.1.3. Rise in availability of network infrastructure and urbanization
- 5.1.2. Restraints
  - 5.1.2.1. High cost of research & development
- 5.1.3. Opportunities
  - 5.1.3.1. Growing demand of robots in education sector
  - 5.1.3.2. Growing areas of application due to the surge of robot adoption
- 5.1.4. Challenges
  - 5.1.4.1. Data security and interoperability issues
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Internet of Robotic Things Market, by Platform

6.1. Introduction
6.2. Application Management Platform
6.3. Device Management Platform
6.4. Network Management Platform

7. Internet of Robotic Things Market, by Service

7.1. Introduction
7.2. Managed Services
7.3. Professional Services

8. Internet of Robotic Things Market, by Software

8.1. Introduction
8.2. Data Management
8.3. Network Bandwidth Management
8.4. Real Time Streaming Analytics
8.5. Remote Monitoring System
8.6. Security Solution

9. Internet of Robotic Things Market, by Smart Robot Component

9.1. Introduction
9.2. Actuators
9.3. Control systems
9.4. Power source
9.5. Sensors

10. Americas Internet of Robotic Things Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Internet of Robotic Things Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Internet of Robotic Things Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ABB Ltd.
2. Aethon Inc.
3. Cisco Systems, Inc.
4. Exail
5. Fanuc, Corp.
6. Google, Inc. by Alphabet, Inc.
7. Honda Motors Co., Ltd.
8. iRobot Corp. by Amazon.com, Inc.
9. Kuka AG by Midea Group
10. Microsoft Corporation
11. Northrop Grumman Corporation
12. Omron Corporation
13. Robert Bosch GmbH
14. Samsung Electronics Co. Ltd.
15. Yaskawa Electric Corporation