Cloud-based smart robotics market is anticipated to grow at a CAGR of 26.6% during the forecast period. Cloud-based smart robotics allows robots to benefit from the powerful computational, storage, and communications resources of modern data centers. The growing technological advancements in AI across the globe is expected to propel the growth of the market during the forecast period. According to the International Federation of Robotics, various new technologies such as AI, big data, and 5G, drives government funding in Asia-Pacific, Europe and America. Furthermore, the new robot strategy in Japan is a key policy of the Abenomics growth strategy. The robot-related budget for 2019 has been increased to $351 million, to make Japan the robot innovation hub. The action plan includes manufacturing as well as important service sectors such as healthcare, agriculture, and infrastructure. Moreover, according to the statistical yearbook “World Robotics” by IFR, Japan is the number one industrial robot manufacturer and delivered 52% of the global supply in 2018.
The global cloud-based smart robotics market is segmented based on the component, service model, application, and end-users. Based on the component, the market is bifurcated into software and services. Based on the service model, the market is sub-segmented into the IaaS, PaaS, RaaS, and SaaS. Based on the application, the market is further segmented into industrial robots and service robots. Based on the end-users the market is augmented into the automotive, manufacturing, healthcare, military & defense, retail & e-commerce, and others. The RaaS is expected to be the fastest-growing segment during the forecast period owing to the concept of RaaS is that organizations can access services through a cloud-based subscription without making huge investments.
Among the application, the industrial robot is expected to hold a prominent share in the cloud-based smart robotics market during the forecast period owing to the adoption of smart factory systems. With the rapid increase in competition, consumer demands, and industrial automation, manufacturing units across the globe are pushed to adopt newer technological innovations and digital transformation solutions. Industry 4.0 is progressively transitioning factories from having legacy systems to smart components & smart machines to enabling digital factories which are contributing to the market growth. Furthermore, the market players are launching new smart factory solutions which in return drive the growth of the market. For instance, in November 2021, ABB launched ABB Ability Smart Melt Shop, the first smart factory digital application of its kind for the metals industry. It is designed to increase melt shop productivity, save energy and improve employee safety, with payback within six months. Moreover, based on advanced digital algorithms, the new solution is unique in that it offers not only powerful real-time ladle tracking but also automated crane scheduling and a predictive thermal modelling engine.
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Cloud-Based Smart Robotics Market Segmentation
By Component
- Software
- Services
By Service Model
- IaaS
- PaaS
- RaaS
- SaaS
By Application
- Industrial Robot
- Service Robot
By End-Users
- Automotive
- Manufacturing
- Healthcare
- Military & Defense
- Retail & E-Commerce
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- ABB Ltd.
- com, Inc.
- ai
- C2ro Cloud Robotics Inc.,
- Cloud minds Technology Inc.
- Google LLC
- Hit Robot Group
- Huawei Technologies Co., Ltd.
- IBM Corp.
- Invia Robotics Inc.
- Microsoft Corp.
- Ortelio Ltd.
- Rapyuta Robotics
- Tend Ai Inc.
- V3 Smart Technologies
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