Internet of Robotics Things Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
Description
Market Overview:
The Internet of Robotics Things (IoRT) Market is projected to grow from USD 21,412 million in 2024 to USD 136,891.95 million by 2032, achieving a robust CAGR of 26.1% during the forecast period (2024-2032).
The IoRT market is being driven by the convergence of robotics and IoT technologies, which enable advanced automation, real-time decision-making, and enhanced operational efficiency across industries such as manufacturing, healthcare, logistics, and agriculture. IoRT systems are helping industries achieve significant advancements through predictive maintenance, intelligent asset tracking, and optimized workflows. The rising demand for collaborative robots (cobots), which incorporate IoRT capabilities, further accelerates the market as it enables seamless human-machine interaction. Furthermore, the deployment of 5G technology is enhancing connectivity and data transmission, ensuring faster and more reliable IoRT solutions. With the integration of AI and machine learning (ML) algorithms, IoRT is enabling the development of intelligent robots capable of autonomous decision-making. As Industry 4.0 continues to promote digital transformation and automation, IoRT is increasingly becoming a pivotal component in smart factories and interconnected ecosystems, driving value across multiple sectors.
Market Drivers:
Growing Demand for Automation Across Industries:
The rising demand for automation is a key driver of the IoRT market. Various sectors such as agriculture, retail, and construction are increasingly adopting IoRT solutions to streamline operations and reduce labor costs. In manufacturing, IoRT enables the development of smart factories by connecting robotic systems to IoT networks, enhancing production line efficiency. In agriculture, IoRT-powered robots provide precision farming capabilities, offering real-time insights into crop health and field conditions, helping optimize agricultural processes.
Market Challenges Analysis:
High Initial Investment and Integration Complexity:
The primary challenge in the IoRT market is the high initial investment required to implement IoRT systems. The integration of robotics, IoT devices, and advanced technologies like AI and ML demands substantial investment in hardware, software, and infrastructure. This can be a significant barrier, particularly for small and medium-sized enterprises (SMEs) that may have limited budgets. Additionally, the complexity involved in integrating IoRT systems with existing infrastructure creates another challenge. Many organizations face difficulties achieving interoperability between legacy systems and IoRT technologies, often requiring customized solutions and specialized expertise. These integration challenges can increase implementation timelines and operational costs, slowing down the large-scale adoption of IoRT solutions.
Segments:
By Component:
Sensors
Actuators
Power Sources
Control Systems
By Software:
Real-time Streaming Analytics
Security Solutions
Data Management
Remote Monitoring Systems
Network Bandwidth Management
By Platform:
Device Management Platform
Application Management Platform
Network Management Platform
By Service:
Professional Services
Managed Services
By Application:
Collaborative Industrial Robots
Service Robots
By Geography:
North America: U.S., Canada, Mexico
Europe: Germany, France, U.K., Italy, Spain, Rest of Europe
Asia Pacific: China, Japan, India, South Korea, South-East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Rest of Latin America
Middle East & Africa: GCC Countries, South Africa, Rest of the Middle East and Africa
Key Player Analysis:
iRobot Corporation
Cisco Systems Inc.
Honda Motors Co. Ltd.
Kuka AG
Northrop Grumman Corporation
Robert Bosch GmbH
Amazon.com Inc.
Intel Corporation
Yaskawa Electric Corporation
Samsung Electronics Co., Ltd
The Internet of Robotics Things (IoRT) Market is projected to grow from USD 21,412 million in 2024 to USD 136,891.95 million by 2032, achieving a robust CAGR of 26.1% during the forecast period (2024-2032).
The IoRT market is being driven by the convergence of robotics and IoT technologies, which enable advanced automation, real-time decision-making, and enhanced operational efficiency across industries such as manufacturing, healthcare, logistics, and agriculture. IoRT systems are helping industries achieve significant advancements through predictive maintenance, intelligent asset tracking, and optimized workflows. The rising demand for collaborative robots (cobots), which incorporate IoRT capabilities, further accelerates the market as it enables seamless human-machine interaction. Furthermore, the deployment of 5G technology is enhancing connectivity and data transmission, ensuring faster and more reliable IoRT solutions. With the integration of AI and machine learning (ML) algorithms, IoRT is enabling the development of intelligent robots capable of autonomous decision-making. As Industry 4.0 continues to promote digital transformation and automation, IoRT is increasingly becoming a pivotal component in smart factories and interconnected ecosystems, driving value across multiple sectors.
Market Drivers:
Growing Demand for Automation Across Industries:
The rising demand for automation is a key driver of the IoRT market. Various sectors such as agriculture, retail, and construction are increasingly adopting IoRT solutions to streamline operations and reduce labor costs. In manufacturing, IoRT enables the development of smart factories by connecting robotic systems to IoT networks, enhancing production line efficiency. In agriculture, IoRT-powered robots provide precision farming capabilities, offering real-time insights into crop health and field conditions, helping optimize agricultural processes.
Market Challenges Analysis:
High Initial Investment and Integration Complexity:
The primary challenge in the IoRT market is the high initial investment required to implement IoRT systems. The integration of robotics, IoT devices, and advanced technologies like AI and ML demands substantial investment in hardware, software, and infrastructure. This can be a significant barrier, particularly for small and medium-sized enterprises (SMEs) that may have limited budgets. Additionally, the complexity involved in integrating IoRT systems with existing infrastructure creates another challenge. Many organizations face difficulties achieving interoperability between legacy systems and IoRT technologies, often requiring customized solutions and specialized expertise. These integration challenges can increase implementation timelines and operational costs, slowing down the large-scale adoption of IoRT solutions.
Segments:
By Component:
Sensors
Actuators
Power Sources
Control Systems
By Software:
Real-time Streaming Analytics
Security Solutions
Data Management
Remote Monitoring Systems
Network Bandwidth Management
By Platform:
Device Management Platform
Application Management Platform
Network Management Platform
By Service:
Professional Services
Managed Services
By Application:
Collaborative Industrial Robots
Service Robots
By Geography:
North America: U.S., Canada, Mexico
Europe: Germany, France, U.K., Italy, Spain, Rest of Europe
Asia Pacific: China, Japan, India, South Korea, South-East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Rest of Latin America
Middle East & Africa: GCC Countries, South Africa, Rest of the Middle East and Africa
Key Player Analysis:
iRobot Corporation
Cisco Systems Inc.
Honda Motors Co. Ltd.
Kuka AG
Northrop Grumman Corporation
Robert Bosch GmbH
Amazon.com Inc.
Intel Corporation
Yaskawa Electric Corporation
Samsung Electronics Co., Ltd
Table of Contents
203 Pages
- CHAPTER NO. 1 : INTRODUCTION
- 1.1.1. Report Description
- Purpose of the Report
- USP & Key Offerings
- 1.1.2. Key Benefits for Stakeholders
- 1.1.3. Target Audience
- 1.1.4. Report Scope
- CHAPTER NO. 2 : EXECUTIVE SUMMARY
- 2.1. Internet of Robotics Things Market Snapshot
- 2.1.1. Internet of Robotics Things Market, 2018 - 2032 (USD Million)
- CHAPTER NO. 3 : Internet of Robotics Things Market – INDUSTRY ANALYSIS
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restraints
- 3.4. Market Opportunities
- 3.5. Porter’s Five Forces Analysis
- CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE
- 4.1. Company Market Share Analysis – 2023
- 4.2. Internet of Robotics Things Market Company Revenue Market Share, 2023
- 4.3. Company Assessment Metrics, 2023
- 4.4. Start-ups / SMEs Assessment Metrics, 2023
- 4.5. Strategic Developments
- 4.6. Key Players Product Matrix
- CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS
- CHAPTER NO. 6 : Internet of Robotics Things Market – BASED ON COMPONENT ANALYSIS
- CHAPTER NO. 7 : Internet of Robotics Things Market – BASED ON SOFTWARE ANALYSIS
- CHAPTER NO. 8 : Internet of Robotics Things Market – BASED ON PLATFORM ANALYSIS
- CHAPTER NO. 9 : Internet of Robotics Things Market – BASED ON SERVICE ANALYSIS
- CHAPTER NO. 10 : Internet of Robotics Things Market – BASED ON APPLICATION ANALYSIS
- CHAPTER NO. 11 : Internet of Robotics Things Market – BASED ON THE GEOGRAPHY ANALYSIS
- CHAPTER NO. 12 : COMPANY PROFILES
- 12.1. Irobot Corporation
- 12.1.1. Company Overview
- 12.1.2. Product Portfolio
- 12.1.3. SWOT Analysis
- 12.1.4. Business Strategy
- 12.1.5. Financial Overview
- 12.2. Cisco Systems Inc.
- 12.3. Honda Motors Co. Ltd.
- 12.4. Kuka AG
- 12.5. Northrop Grumman Corporation
- 12.6. Robert Bosch GmbH
- 12.7. Amazon.com Inc.
- 12.8. Intel Corporation
- 12.9. Yaskawa Electric Corporation
- 12.10. Samsung Electronics Co., Ltd
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