Global Cloud Robotics Market 2018-2022
About Cloud Robotics
Cloud Robotics involves robotic systems that are connected with a wired or/and wireless communication network. They are controlled and operated by human operators at a distance, who use the remotely-sensed data and real-time information obtained through the communication network to improve the capabilities and applications of robotic systems.
Technavio’s analysts forecast the global cloud robotics market to grow at a CAGR of 20.35% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global cloud robotics market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of cloud robotics.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cloud Robotics Market 2018-2022
Technavio recognizes the following companies as the key players in the global cloud robotics market: ABB, FANUC , HIT Robot Group, IBM, Midea Group, Rapyuta Robotics, Yaskawa Electric
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing opportunities for 5G network. During the forecast period, the market is expected to witness the considerable adoption of the 5th generation (5G) wireless networks that will be suitable for the incorporation of advanced technology and new generation robots. These 5G networks are expected to have high capabilities for gathering real-time information and improved connectivity with machines locally and globally.”
According to the report, one of the major drivers for this market is Advantages offered by cloud robotics. With the increasing applications of robots for repetitive and risky tasks, end-users are increasingly seeking avenues to ensure that limitations of robotic systems due to factors such as cost, computational capacity, storage, size, power supply, motion mode, and working environment are eliminated. Thus, the adoption of cloud computing is increasing to enhance the capabilities of industrial and service robots.
Further, the report states that one of the major factors hindering the growth of this market is Regulatory hurdles. Companies in the global cloud robotics market are expected to be affected due to unfavorable regulations for UAVs. With the awareness and adoption of UAVs, governments are updating regulations regarding the use of UAVs. This change in regulations is expected to be a major challenge for vendors in countries with stringent laws on UAVs, thereby decreasing its adoption.
ABB, FANUC , HIT Robot Group, IBM, Midea Group, Rapyuta Robotics, Yaskawa Electric
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook