Cloud Robotics Market is predicted to reach USD 15.36 billion at a CAGR of 23.20% during the forecast period:
Market Research Future (MRFR) has published a cooked research report on the “Global Cloud Robotics Market” that contains information from 2023 to 2032. The Cloud Robotics Market is estimated to register a CAGR of 23.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the Cloud Robotics Market— ABB Group, Kuka AG, Rockwell Automation Inc., Yaskawa Electric Corporation, Rapyuta Robotics Co. Ltd., Fanuc Corporation, Calvary Robotics, Ortelio Ltd., and Motion Controls Robotics.
The Cloud Robotics Market is accounted to register a CAGR of 23.20% during the forecast period and is estimated to reach USD 15.36 Billion by 2032.
Cloud robotics refers to a concept in which robots and robotic systems are connected to cloud computing resources and services, enabling them to access and leverage the computational power, storage, and data analytics capabilities offered by the cloud. This integration allows robots to offload some of their processing tasks, access large datasets, and benefit from advanced algorithms and AI models available in the cloud.
The cloud robotics market is expected to grow as technological advancements in AI, connectivity, and cloud computing continue to evolve. Industries that require flexible and adaptive robotic systems are likely to adopt cloud robotics to enhance their operations, improve efficiency, and drive innovation.
The Cloud Robotics Market has been segmented based on type and application.
On the basis of type, the market is segmented into Peer Based, Proxy Based and Clone Based. The peer-based segment dominated the market, accounting for 35% of market revenue. Every robot and virtual machine (VM) is regarded as a separate computing unit on the cloud. This network of robots and virtual machines (VMs) is completely dispersed.
Based on application, the market has been segmented into Defense, Manufacturing, Retail, Agriculture and Healthcare. The healthcare segment held the majority share in 2022, contributing around ~33% concerning the Cloud robotics market revenue. It is used for various things, including maintaining electronic medical records, keeping tabs on patients' health, etc. To offer patients clinical help, the robot may connect to the cloud.
The Cloud Robotics Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Cloud Robotics Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Cloud Robotics Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Cloud Robotics Market comprises of Middle East, Africa, and Latin America.
North America, particularly the United States, was a significant contributor to the cloud robotics market. The region's strong technology infrastructure, including advanced cloud computing services and AI expertise, facilitated the growth of cloud robotics applications.
European countries, including Germany, France, and the United Kingdom, also played a role in the cloud robotics market. European manufacturers and industries were exploring cloud-connected robotics to improve efficiency, productivity, and competitiveness. The European Union's emphasis on Industry 4.0 and smart manufacturing initiatives drove interest in cloud robotics applications to enhance automation and innovation in manufacturing processes.
The Asia-Pacific region, with countries like Japan, China, and South Korea, was a prominent player in the cloud robotics market. These countries were known for their advancements in robotics, automation, and AI technologies. China was also actively investing in robotics and AI, with cloud robotics being applied in manufacturing, logistics, and service sectors.
Furthermore, the rest of the world's Cloud Robotics Market is divided into the Middle East, Africa, and Latin America. Other regions, including Latin America, the Middle East, and Africa, were gradually exploring cloud robotics solutions, although adoption might have been comparatively slower due to factors like infrastructure challenges and varying levels of technological readiness.
Key Findings of the Study