Preliminary research of Fairfield Market Research indicates a promising growth outlook for global cloud robotics market during the course of next few years.
Advances in AI Technology to Complement Growth of the Cloud Robotics Market
Continual research and development activities in the artificial intelligence and machine learning remain instrumental in influencing the growth of the cloud robotics market. Significant investments in AI and penetration of cloud further continue to trigger the adoption of cloud robotics in turn fuelling market growth. Moreover, with artificial intelligence, efficiency of robotic systems can be increased significantly along with reducing the operational costs. This has supported in the development of lightweight, cost effective and smart robots equipped with information processing, communication support and knowledge base. Furthermore, AI can support robots to draw information from multiple data centres using cloud. These factors are poised to give an impetus to market growth in the forthcoming years.
Growing Demand for Industrial Robots to Augur Well for the Cloud Robotics Market
The proliferation of big data and cloud computing has resulted in the integration of these technologies in robotic systems thus allowing designing of multi-robot systems featuring high complexity and high performance. The increasing penetration of Internet of Things (IoT) and growing investments in robotics have significantly fuelled the adoption of industrial robotics thus paving new avenues for the cloud robotics market. For instance, according to International Federation of Robotics, installation of robots increased significantly on the global front in 2021. On the back of the ongoing automation trend with continual technological advancements, the demand for industrial robots increased considerably, thus fuelling their sales. The momentous growth of the industrial robotics in turn pushed the use of cloud robotics allowing manufacturers to gain high levels of performance from their systems. In this backdrop, growing industrial robotics trend is expected to bode well for the market worldwide in the forthcoming years.
5G Technology to Offer Huge Potential of Growth for the Cloud Robotics Market
The advent and adoption of 5G technology is expected to provide ample opportunities for the cloud robotics market. The deployment of cloud robotics requires consistent, constant and reliable connectivity in any operational environment. Wireless technologies have the ability to meet these requirements thus eliminating complex wired connections. With 5G, the latency can also be reduced in wireless systems and can support sub-millisecond latencies. That said, 5G technology is poised to contribute towards the growth of the market in the coming years.
Asia Pacific Likely to Reign Supreme in the Cloud Robotics Market
Rising penetration of cloud computing along with adoption of automation and robotics in the industrial sector continues to influence the growth of the cloud robotics market in Asia Pacific. The region is expected to reflect high growth opportunities in the forthcoming years on the back of rising urbanization and burgeoning manufacturing industry across emerging economies. Countries such as China, India, Japan, South Korea, and Australia have been inclined towards adoption of advanced technologies in their industrial sectors including manufacturing, pharmaceuticals, automotive and retail among others. China is poised to lead the Asia Pacific cloud robotics market. This can be attributed towards increased spending of the country on public cloud which in turn has contributed towards the adoption of cloud robotics. Small and medium scale enterprises have leveraged this aspect for their own IT infrastructure. In addition, the country has been a significantly huge market for industrial robotics followed by India and Japan. According to the five year plan proposed by the Ministry of Industry and Information Technology, the operating revenue of the robotics industry in China is projected to increase by 20% each year during the 2021-2025 timeline.
Furthermore, the rising automotive manufacturing in the region is expected to augment the cloud robotics market growth. The automotive industry has been deploying automation and robotics backed by the Industry 4.0 revolution. Automotive manufacturers have been leveraging technology to improve their operational processes and efficiency by using robotics. This factor coupled with the reliance on cloud is likely to pave new avenues of growth for the market in Asia Pacific. Overall, the scenario for the market in the region is optimistic making it a lucrative revenue pocket for providers of cloud robotics.
Cloud Robotics Market: Competitive Landscape
Development of new solutions, acquisitions, collaborations and investments in robotics has been witnessed in the cloud robotics market. For instance, in August 2022, an investment of INR 20 crores in the Indian startup Genrobotics was announced by Zoho Corp. With this investment, it is expected that Genrobotics would be able to eliminate manual scavenging while offering safety to workers in oil and gas industry. In June 2022, HP introduced 5G software solution which expands its current 5G portfolio. This solution orchestrates and monitors infrastructure, network activities and resolves issues thus ensuring service continuity.
Same year in April, Foxconn Industrial Internet announced an investment of around US$ 30 million in Agile Robotics AG, a German automation firm. In June 2021, acquisition of Determined AI was announced by Hewlett Packard Enterprise. With this acquisition, HPE will leverage unique software solution of Determined AI and combine it with its high performance computing and AI services to enable machine learning engineers learn and develop ML models in any industry thus generating more efficiency and fast and accurate insights from data.
Some of the major players in the global cloud robotics market include Hit Robot Group Co. Ltd., CloudMinds Technologies Co. Ltd., ABB Ltd., C2RO Cloud Robotics, inVia Robotics Inc., IBM Corporation, XTend Robotics, Microsoft Corporation, and Kuka AG.
Regional Classification of Global Cloud Robotics Market Can be Given as Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Cloud Robotics Market
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