Cloud Robotics Market – Growth, Trends, Covid-19 Impact, And Forecasts (2021 – 2026)

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The cloud robotics market was valued at USD 4177.2 million in 2020, and is expected to reach USD 14,598.6 million by 2026, at a CAGR of 23.2% during the forecast period, (2021 – 2026). The growing adoption of connected services in robotics, by information sharing for offloaded computation and collaboration, is a vital factor in the growth of the global cloud robotics market.
– The cloud-based AI and connectivity are likely to shape the development of the cloud robotics market significantly over the forecast period. Many technology giants have developed AI-based systems that are being widely used. Hence, the investment by these vendors in the robotics market will also innovate new solutions for cloud robotics as well.
– Increasing adoption of smart devices, the evolution of bandwidth, and rising cloud streaming services are also owing to the growth of connected-robots market. The GSMA predicted that by 2025, there would be around 25.1 billion IoT connected devices, which was 7.5 billion in 2017. This offers a massive opportunity for connected robots and their platform market.
– According to the GTI cloud ...
... robotics working group, by 2020, connected robots will account for 90% of total robots, and about 20 million new connections are expected to be required every year to support their day-to-day operations.

Key Market Trends

Rising Demand for Industrial Robotics to Augment the Market Growth

– With the development of cloud computing, big data, and other emerging technologies, the integration of cloud technology and robotic systems allows for the design of multi-robot systems, with high performance and high complexity. Growing penetration of the IoT and investments in robotics have been the major contributors to the growth of industrial robotics.
– Industrial robotics have been witnessing a huge demand over the past decade, owing to the adoption of the smart factory systems. With the development of industrial robots, programmed robots have reached high levels of performance in real-time applications, accuracy, robustness, and compatibility.

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– The availability of small-capacity and cost-effective solutions from small-and medium-sized industries is influencing the adoption of industrial automation. Apart from this, connecting robots, machines, and automation equipment to the cloud allow manufacturers to unlock the highest levels of performance and uptime from their automation systems.

Asia-Pacific to Witness a Significant Growth

– The market in Asia-Pacific is driven by the growing penetration of cloud computing, coupled with the incorporation of robotics and automation, among the end-users. The automation adoption rate in this region, especially in China, India, and Japan, is the highest in the world.
– China is the biggest spender on public cloud in the Asia-Pacific region. The local IaaS market is the first choice for small- and medium-enterprises for IT resources construction in the fields of games, video, and mobile internet.
– The growing demand for advanced automotive manufacturing is also driving robotics partnerships between the United States and Chinese companies. This may help China in getting advancement in cloud services, which is likely to further develop the Asia-Pacific cloud robotics market.
– Furthermore, ASORO labs of Singapore built a cloud computing infrastructure to generate a 3D model of the environment. This allows robots to perform simultaneous localization and mapping, and the process is much faster than the labs' computers.

Competitive Landscape

The cloud robotics market is fragmented. Overall, the competitive rivalry among existing competitors is moderate. Moreover, acquisitions and collaboration of large companies with startups are expected, which are focused toward innovation.

– May 2019 – IBM announced relationships with certain European companies, like Volkswagen, Moovster, and Vinturas, to redefine the future of their auto industry with hybrid cloud and AI. This partnership is focused on personalized digital services in and around the vehicle.
– May 2019 – Microsoft Corp. (Microsoft) and Sony Corporation (Sony) announced that the two companies will partner in new innovations, to enhance customer experiences in their direct-to-consumer entertainment platforms and AI solutions. The two companies are planning to explore joint development of future cloud solutions in Microsoft Azure, to support their respective game and content-streaming services.

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