$7.5 Billion Global Cloud Robotics Market 2018-2022 - Growth Potential Across Developing Nations

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Apr 09, 2018, 11:30 ET

DUBLIN, April 9, 2018 /PRNewswire/ --

The "Cloud Robotics Market by Component (Software and Services), Service Model (IaaS, PaaS, and SaaS), Application, Deployment Model (Public, Private, and Hybrid Cloud), End-User (Verticals and Third-Party Users), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The cloud robotics market to grow from USD 2.20 Billion in 2017 to USD 7.51 Billion by 2022, at a CAGR of 28.1% during the forecast period.

The proliferation of the cloud technology, broad spectrum use of wireless technologies,increase in the adoption of IoT, and advancements in AI are some of the factors that are expected to drive the growth of the global cloud robotics market. However, privacy and security concerns, and high initial costs and R&D expenses may hinder the market growth.

In the services segment, the training and support services segment is expected to grow at the highest CAGR during the forecast period. These services are designed to provide a wide range of service offerings that help meet the specific needs of customers who require maximum benefits from their hardware and software. These services also assist the robot manufacturers and integrators in successfully implementing the cloud robotics solutions.

In the service model, the PaaS segment is expected to have the highest CAGR during the forecast period. This is because, it enables enterprises to develop, run, and manage software and tools, without the hassle of maintaining and updating the hardware and software infrastructure. Enterprises of all sizes are globally adopting the Paas segment, because of its simplicity, scalability, and reliability. In addition to this, PaaS applications have a high adaptability rate, because they have the latest features, such as easy upgradation.

The APAC region includes emerging economies, such as China, Japan, Singapore, South Korea, and India. The enterprises in these economies are using cloud robotics solutions and services to streamline their business processes. The APAC region is expected to grow at the highest CAGR during the forecast period. As the region houses a large number of manufacturing units that are gradually embracing the adoption of advanced technologies, such as cloud robotics, it is expected to offer potential growth opportunities for the cloud robotics vendors. On the other hand, North America is estimated to have the largest market size in the cloud robotics market in 2017.

Market Dynamics

Drivers

Proliferation of the Cloud Technology
Broad Spectrum Use of Wireless Technologies and Smart Devices
Increase in the Adoption of IoT and Advancements in AI and Machine Learning Technologies

Restraints

Data Privacy and Security Concerns
High Initial Costs and R&D Expenses

Opportunities

Increase in the Use of Robots for Industrial Automation
Rise in Demand for Robotics-As-A-Service (RaaS)
Growth Potential Across the Developing Nations

Challenges

Longer Time to Commercialize the Robots

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Cloud Robotics Market, by Component

7 Market By Service Model

8 Cloud Robotics Market, by Application

9 Market By Deployment Model

10 Cloud Robotics Market, by End-User

11 Cloud Robotics Market, by Region

12 Competitive Landscape

13 Company Profiles

Amazon Robotics
C2RO
Cloudminds
Ericsson
Google
Hit Robot Group
Huawei
IBM
Microsoft
Ortelio
Rapyuta Robotics
Tend
V3 Smart Technologies

For more information about this report visit https://www.researchandmarkets.com/research/g3cn6x/7_5_billion?w=5

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SOURCE Research and Markets