The global cloud robotics market revenue was around US$ 5.7 billion in 2022 and is estimated to reach US$ 43.3 billion by 2031, growing at a compound annual growth rate (CAGR) of 25.3% during the forecast period from 2023 to 2031.
Cloud robotics is a branch of robotics that attempts to utilize cloud technologies such as cloud storage, cloud computing, and other Internet technologies to support robotics by leveraging the advantages of shared services and converged infrastructure. Robots that are networked to the cloud can benefit from the enormous processing, storage, and communication resources of existing cloud data centers, which can investigate and exchange data from various robots.
Market Driving Factors
Enhancing communication and internet technology is estimated to boost market growth. As communications standards enhance, cloud robotics can incorporate the characteristics of edge computing and the benefits of ultra-low network latency with the help of advanced 5G networks. Additionally, more traditional advantages that cloud integration can offer, such as machine learning, artificial intelligence, data analytics, security, storage, and computation services. As a result, robots and system automation have progressed from future theoretical innovations in research labs to being executed in real-world locations to save time, money, and energy.
Increasing demand for automation in the manufacturing and industrial sectors propel the market growth. Numerous essential industrial operations such as machining, painting, welding, material handling, and assembling are now being replaced by automated robots. These robots utilize mechanical, electrical, and software systems that can exceed the speed, performance, accuracy, and precision of a regular human worker. Furthermore, automation in industrial robots has been extremely successful due to its high accuracy and speed in structured factory circumstances.
The advent of 5G technology can offer major growth possibilities in the market. Deployment of cloud-based robotic systems needs dependable and consistent connectivity, regardless of the operating circumstances. In addition, wireless technology provides these solutions and eradicates the requirement for complicated wireline connections to offer communication systems. As a result, 5G is estimated to provide less latency and is an obvious option for applications that need high capacity. Thus, 5G supports a broader range of needs such as sub-millisecond latency.
Concerns regarding data privacy and security are estimated to hinder the market growth.
Regional Analysis
North America dominated the market in terms of the largest share and is estimated to maintain its dominance over the forecast period. This is majorly attributed to cloud computing, robotics, artificial intelligence, and deep learning where key players like Amazon Web Services (AWS), IBM, Microsoft, and Google are headquartered.
Europe is estimated to dominate the market in terms of the growth rate. The increasing requirement for robotic automation in the automotive industry is predicted to contribute significantly to the region's sustained economic growth. In addition, investments in the robotics sector are increasing in the region. Furthermore, the cloud robotics market is likely to surge due to elements such as the surging popularity of cloud computing, the widespread adoption of smart devices and wireless technologies, the increase of the Internet of Things, and developments in machine learning and artificial intelligence.
Segmentation Insights
Enterprise Size Insight
The large enterprises segment dominated the market in terms of the growth rate and is estimated to maintain its dominance. This is primarily attributed to the surge in demand for cutting-edge industrial automation and the rise in the complexity of modern manufacturing processes.
Robot Type Insight
The industrial robots segment dominates the market in terms of the largest share. Demand for cloud robotics is estimated to increase with the demand for industrial robots as more individuals become conscious of the advantages of automation and the Fourth Industrial Revolution. Additionally, new automation services can benefit from emerging technologies and business models due to the digital transformation in the automation industry.
Industry Vertical Insight
The manufacturing segment dominates the market in terms of the highest rate. Robotic machinery is in high demand in manufacturing due to companies always attempting to reduce expenses wherever possible. There has been a transformation from handwork to robotic arms in the manufacturing sector. In addition, producers are reaping the rewards of robot simulations, improving the effectiveness of preventative maintenance, quality assurance, and new product development. As a result, this aids companies in speeding up their production times to save money.
Prominent Companies
Segmentation Outline
The global cloud robotics market segmentation focuses on the Component, Service Model, Robot Type, Enterprise Size, Industry Vertical, and Region.
By Component
By Service Model
By Robot Type
By Enterprise Size
By Industry Vertical
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL CLOUD ROBOTICS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: CLOUD ROBOTICS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL CLOUD ROBOTICS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL CLOUD ROBOTICS MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 SOFTWARE
5.3 SERVICE
6 GLOBAL CLOUD ROBOTICS MARKET, BY SERVICE MODEL
6.1 OVERVIEW
6.2 IAAS
6.3 PAAS
6.4 SAAS
7 GLOBAL CLOUD ROBOTICS MARKET, BY ROBOT TYPE
7.1 OVERVIEW
7.2 INDUSTRIAL ROBOTS
7.3 SERVICE ROBOTS
8 GLOBAL CLOUD ROBOTICS MARKET, BY ENTERPRISE SIZE
8.1 OVERVIEW
8.2 LARGE ENTERPRISES
8.3 SMES
9 GLOBAL CLOUD ROBOTICS MARKET, BY INDUSTRY VERTICAL
9.1 OVERVIEW
9.2 MANUFACTURING
9.3 HEALTHCARE
9.4 AEROSPACE AND DEFENSE
9.5 MEDIA AND ENTERTAINMENT
9.6 LOGISTICS
9.7 OTHERS
10 GLOBAL CLOUD ROBOTICS MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL CLOUD ROBOTICS MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 HUAWEI
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 KUKA AG
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 CALVARY ROBOTICS
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 AMAZON ROBOTICS
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 MICROSOFT CORPORATION
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 CLOUDMINDS
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 RAPYUTA ROBOTICS CO. LTD
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8 ORTELIO LTD
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 HIT ROBOT GROUP
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 V3 SMART TECHNOLOGIES
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.11 ABB
12.11.1 OVERVIEW
12.11.2 FINANCIAL PERFORMANCE
12.11.3 PRODUCT OUTLOOK
12.11.4 KEY DEVELOPMENTS
12.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.12 IBM CORPORATION
12.12.1 OVERVIEW
12.12.2 FINANCIAL PERFORMANCE
12.12.3 PRODUCT OUTLOOK
12.12.4 KEY DEVELOPMENTS
12.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.13 GOOGLE
12.13.1 OVERVIEW
12.13.2 FINANCIAL PERFORMANCE
12.13.3 PRODUCT OUTLOOK
12.13.4 KEY DEVELOPMENTS
12.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.14 XTEND ROBOTICS
12.14.1 OVERVIEW
12.14.2 FINANCIAL PERFORMANCE
12.14.3 PRODUCT OUTLOOK
12.14.4 KEY DEVELOPMENTS
12.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.15 FANUC CORPORATION
12.15.1 OVERVIEW
12.15.2 FINANCIAL PERFORMANCE
12.15.3 PRODUCT OUTLOOK
12.15.4 KEY DEVELOPMENTS
12.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.16 C2RO
12.16.1 OVERVIEW
12.16.2 FINANCIAL PERFORMANCE
12.16.3 PRODUCT OUTLOOK
12.16.4 KEY DEVELOPMENTS
12.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.17 ROCKWELL AUTOMATION INC.
12.17.1 OVERVIEW
12.17.2 FINANCIAL PERFORMANCE
12.17.3 PRODUCT OUTLOOK
12.17.4 KEY DEVELOPMENTS
12.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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