Cloud Robotics Market to Hit 28.1% CAGR and Projected to Reach USD 7.51 Billion to 2022 - Key Insights, Company Profiles and Overview

The objective of the report is to define, describe, and forecast the cloud robotics market size on the basis of components (software and services), service models, applications, deployment models, end-users (verticals and third-party users), and regions.

(EMAILWIRE.COM, December 24, 2018 ) The proliferation of the cloud technology, broad spectrum use of wireless technologies, and increase in the adoption of Internet of Things (IoT) and advancements in Artificial Intelligence (AI), and machine learning technologies are the major factors that are expected to support the growth of the cloud robotics market.

[122 Pages Report] The global cloud robotics market is accounted to grow from USD 1.93 Billion in 2016 to USD 7.51 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 28.1% during the forecast period.

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This report aims at estimating the market size and growth potential of the cloud robotics market across different segments: components (software and services), service models (Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Software as a Service (SaaS)), applications (industrial robots, military robots, commercial robots and personal robots), deployment models, end-users (verticals and third-party users), and regions. The primary objective of the report is to provide a detailed analysis of the major factors (drivers, restraints, opportunities, industry-specific challenges, and recent developments) influencing the market growth, analyze the market opportunities for stakeholders, and offer details of the competitive landscape to the market leaders.

North America is expected to have the largest market size in the cloud robotics market during the forecast period. The reason being, a majority of the vendors, such as IBM, Microsoft, Google, and Amazon Robotics, are based in North America. The region is also expected to account for the major market share and considered the most advanced region in terms of cloud, AI, and machine learning technologies. The region witnesses many R&D activities in the field of robotics, bringing advancements to cloud computing, AI, robotics, and machine learning.

Asia Pacific (APAC) is expected to witness the highest CAGR in the global cloud robotics market during the forecast period. With diversified geographic areas and a high customer base, the APAC region is expected to exhibit a strong growth in the cloud robotics market. The growth in this region is primarily driven by the presence of many manufacturing units that are gradually embracing the adoption of advanced technologies, such as cloud robotics. The market in the developing regions, such as the Middle East and Africa (MEA) and Latin America, is expected to grow, due to the low costs and greater agility offered by the cloud solutions, the increase in mobile and wireless penetration, and the development in infrastructures.

The key players in the cloud robotics market include Amazon Robotics (US), Google (US), Huawei (China), IBM (US), Microsoft (US), C2RO (Canada), CloudMinds (US), Hit Robot Group (US), V3 Smart Technologies (Singapore), Rapyuta Robotics (Japan), Ortelio (UK),and Tend (US).

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