Cloud Robotics Market Size

Cloud Robotics Market Analysis

The cloud robotics market is expected to grow at a CAGR of 24.8% during the forecast period. 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 significantly shape the cloud robotics market's development 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.
• The convergence of robots, teleoperation, MEC, and core cloud technologies is poised to alter enterprise operations, industrial processes, and consumer services across various industry verticals. Cloud operations and terrestrial and aerial robots will significantly assist the purpose-built and general-purpose robotics segments. In the latter instance, mass consumerization will occur when end-users acclimate to autonomous and remote-control robots for a wide range of personal services tasks.
• The cloud robotics market will give birth to a greater range of robotics services. This is due to various variables, including significantly more flexible service execution, lower operational friction (due to fewer proprietary interfaces), and improved economics via robotics-as-a-service in a cloud-based application paradigm. Initially, industrial and government clients will profit the most, followed by enterprises in specific leading industry sectors. The cloud robotics market will eventually become available to customers in a limited capacity.
• Robotics businesses are working to improve their technology's ability to sense and understand their work settings and cultivate the ability to adjust to dynamic operational conditions on the go. This situational awareness is made possible by integrating sensors and machine learning.
• Increasing adoption of smart devices, the evolution of bandwidth, and rising cloud streaming services are also owing to the growth of the 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.
• The key market players are globally coming up with new solutions, which enhance the future growth opportunities for the Cloud Robotic market. For instance, in February 2021, HPE announced the HPE Open RAN Solution Stack, enabling the commercial implementation of Open RAN at scale in global 5G networks. The HPE Open RAN Solution Stack contains orchestration and automation tools from HPE, RAN-specific infrastructure designs, and telco-optimized equipment.
• Lockdowns reduced the number of workforces in numerous businesses, which increased demand for cloud robotics as more and more companies need centralized monitoring to take control of diverse industrial instruments. Thus, growing industrialization and an increase in automation requirements increased the demand for cloud robotics. Furthermore, the growing need for manufacturing industries, as well as the spike in demand for robotics and automation solutions in the healthcare and chemical industries, fuel market expansion.