Cloud Robotics Market Analysis: Driving Growth Trends and Market Share 2030
Fairfield Market Research, a leading market research firm, has released a preliminary report showcasing a promising growth outlook for the global cloud robotics market in the coming years. The study highlights key factors contributing to this positive trajectory and identifies Asia Pacific as a region set to dominate this dynamic market.
Advances in AI Technology to Complement Growth of the Cloud Robotics Market
The continuous development of artificial intelligence (AI) and machine learning is a driving force behind the growth of the cloud robotics market. Substantial investments in AI, coupled with the widespread adoption of cloud technology, are propelling the adoption of cloud robotics. AI enhances the efficiency of robotic systems while reducing operational costs, resulting in the creation of lightweight, cost-effective, and intelligent robots equipped with advanced information processing, communication support, and knowledge bases. AI also enables robots to access data from multiple cloud-based sources, further bolstering market growth.
Growing Demand for Industrial Robots to Augur Well for the Cloud Robotics Market
The integration of big data and cloud computing into robotic systems has paved the way for multi-robot systems with increased complexity and performance. The rise of the Internet of Things (IoT) and substantial investments in robotics have led to the widespread adoption of industrial robots, creating new opportunities for the cloud robotics market. In 2021, the International Federation of Robotics reported a significant increase in the installation of robots worldwide, driven by automation trends and technological advancements. This surge in industrial robotics has further accelerated the use of cloud robotics, enabling manufacturers to achieve exceptional performance levels from their systems.
5G Technology to Offer Huge Growth Potential
The emergence and adoption of 5G technology are expected to provide substantial growth opportunities for the cloud robotics market. Cloud robotics deployment requires consistent, reliable connectivity in various operational environments. Wireless technologies, especially 5G, offer the capability to meet these requirements by eliminating complex wired connections and reducing latency in wireless systems, thereby contributing to the market’s growth.
Asia Pacific Expected to Reign Supreme in the Cloud Robotics Market
The Asia Pacific region is poised to witness high growth in the cloud robotics market due to the increasing penetration of cloud computing and the adoption of automation and robotics in the industrial sector. Rapid urbanization and a booming manufacturing industry in emerging economies such as China, India, Japan, South Korea, and Australia are driving market growth. China, in particular, leads the Asia Pacific cloud robotics market, fueled by significant investments in public cloud infrastructure and the adoption of cloud robotics by small and medium-scale enterprises. The automotive manufacturing sector in the region is also on the rise, with industry players embracing automation and robotics as part of the Industry 4.0 revolution. These factors, combined with a growing reliance on cloud technology, are expected to open new avenues of growth for the cloud robotics market in Asia Pacific.
Cloud Robotics Market: Competitive Landscape
The cloud robotics market is marked by continuous innovation, acquisitions, collaborations, and investments in robotics technology. For example, Zoho Corp recently announced an investment of INR 20 crores in Genrobotics, an Indian startup, aimed at eliminating manual scavenging and ensuring worker safety in the oil and gas industry. HP introduced a 5G software solution to expand its 5G portfolio, offering infrastructure orchestration, network monitoring, and issue resolution for uninterrupted services. Foxconn Industrial Internet invested approximately US$ 30 million in Agile Robotics AG, a German automation firm, to strengthen its position in the robotics industry. Additionally, Hewlett Packard Enterprise acquired Determined AI, enhancing its machine learning capabilities and data insights.
Key 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.
The global cloud robotics market is on an upward trajectory, driven by advancements in AI, increased demand for industrial robots, and the adoption of 5G technology. The Asia Pacific region is set to lead the market’s growth, offering lucrative opportunities for providers of cloud robotics solutions.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/cloud-robotics-market
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This press release first seen on Brilad