USD 5.86 billion
Cloud Robotics Market Size, Share, Growth Analysis, By Component(Software, Services (Consulting Services, Implementation Services, Training and Support Services)), By Service Model(Infrastructure-As-A-Service, Platform-As-A-Service, Software-As-A-Service), By Application(Industrial Robots, Consumer Robots, Military Robots, Commercial Robots), By Deployment Model(Public Cloud, Private Cloud, Hybrid Cloud), By End-User(Verticals (Manufacturing, Defense, Banking, Financial Services), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2215 |
Region:
Global |
Published Date: October, 2024
Pages:
197
|Tables:
121
|Figures:
77
Cloud Robotics Market Insights
Cloud Robotics Market size was valued at USD 7.6 billion in 2022 and is poised to grow from USD 9.77 billion in 2023 to USD 72.6 billion by 2031, growing at a CAGR of 28.50% during the forecast period (2024-2031).
Rapidly increasing digitization and growing demand for automation around the world are projected to primarily drive up the adoption of cloud robotics going forward. Advancements in cloud computing technologies and growing acceptance of cloud platforms are also slated to supplement global cloud robotics market growth in the future. High emphasis of organizations to enhance productivity, efficiency, and profitability is also expected to promote the demand for cloud robotics over the coming years. Rising use of Internet of Things (IoT) devices and increasing deployment of 5G networks is also opening new avenues of business for cloud robotics providers in the long run. However, high dependence on reliable networks, complexity in integration, lack of standardization, data security, and privacy concerns are estimated to impede cloud robotics demand outlook across the study period.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Industrial Robots
Fastest Growth
Commercial Robots
Growth Rate
28.1% CAGR
Global Cloud Robotics Market ($ Bn)
Country Share for North America Region (%)
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Cloud Robotics Market Segmental Analysis
Global Cloud Robotics Market is segmented by Component, Service Model, Application, Deployment Model, End-User, and Region. Based on Component, the market is segmented into Software, and Services. Based on Service Model, the market is segmented into Infrastructure-As-A-Service, Platform-As-A-Service, Software-As-A-Service. Based on Application, the market is segmented into Industrial Robots, Consumer Robots, Military Robots, and Commercial Robots. Based on Deployment Model, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on End-User, the market is segmented into Verticals, Third-Party Users. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Application
Industrial robots are projected to account for a substantial global cloud robotics market share in the future. Increasing demand for industrial automation around the world is forecasted to help this segment maintain its dominant stance. High emphasis on enhancing productivity in industrial operations and growing availability of advanced industrial robots are also expected to favor the demand for cloud robotics via this segment going forward. Growing adoption of the industry 4.0 and 5.0 trends around the world is also estimated to bolster the dominance of this segment in the long run. Emphasis on worker safety is also slated to promote the sales of industrial robots through 2031.
On the other hand, the demand for cloud robotics for commercial robots is expected to rise at a notable pace over the coming years. Increasing adoption of advanced robots in multiple commercial settings to offset the absence of a skilled workforce and enhance productivity is creating new opportunities in this market. High demand for scalability for commercial robots is also expected to promote the use of cloud robotics in this segment going forward. Use of automation for repetitive tasks in commercial settings is also expected to offer new business scope for cloud robotics providers focusing on commercial robots in the future.
Analysis by End User
Manufacturing is projected to account for the largest global cloud robotics market share in the future. Growing use of automation and robotics in manufacturing operations to boost productivity and efficiency is expected to help emerge as the leading revenue generator for cloud robotics providers. Efforts of manufacturing companies to reduce human error and reduce downtime are also pushing towards the adoption of cloud robotics. Growing use of robots to enhance worker safety and automate menial repetitive tasks in manufacturing are also slated to promote the demand for cloud robotics in the long run.
Meanwhile, the demand for cloud robotics in transportation and logistics is expected to rise at a robust CAGR across the study period and beyond. Increasing investments in the development of intelligence transportation systems and rising adoption of automation in logistics present new opportunities for cloud robotics providers. Virtually limitless potential for scaling cloud robotics makes it highly suitable for varying needs of the transportation and logistics industry verticals. Increasing efforts to optimize supply chains to maximize productivity and minimize errors are also expected to promote the adoption of cloud robotics in this segment through 2031.
Global Cloud Robotics Market By Application
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Cloud Robotics Market Regional Insights
North America is forecasted to spearhead the global cloud robotics industry going forward. Primarily the presence of key cloud and robotics companies in this region contributes to the dominance of North America. The presence of a developed technological infrastructure, quick adoption of novel technologies, and high emphasis on improving efficiency are also expected to boost the demand for cloud robotics in this region. Canada and the United States are forecasted to emerge as the leading markets for cloud robotics providers in North America. High investments in research and development of novel robotics and cloud technologies also further cement the high share of this region.
Meanwhile, the demand for cloud robotics in the Asia Pacific region is slated to rise at an impressive CAGR across the study period and beyond. Growing adoption of advanced robotics, launch of supportive initiatives to promote automation, and high acceptance of cloud computing are creating new opportunities for cloud robotics providers in this region. China is expected to the most lucrative market in this region followed by India, Japan, and South Korea. Robust industrial activity and increasing affordability of cloud robotics are slated to offer new business scope for cloud robotics companies focusing on the Asia Pacific region.
Global Cloud Robotics Market By Region
- Largest
- Fastest
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Cloud Robotics Market Dynamics
Cloud Robotics Market Drivers
Surging Demand for Automation
-
Automation is now becoming an integral part of almost all industry verticals around the world, and this is projected to bolster the demand for cloud robotics over the coming years. Cloud robotics allow robots to perform complex tasks with enhanced efficiency, reducing operational costs and improving productivity thereby making them essential in all types of automation.
High Cost-efficiency and Scalability
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Cloud robotics allows robot manufacturers to eliminate the need for heavy computational hardware on robots as it provides cloud computational and processing capabilities. This helps in making robots more affordable and provides lucrative scope for scalability that has always been the selling point for any kind of cloud-based technology.
Cloud Robotics Market Restraints
Dependence on Reliable Networks
-
Operations and performance of cloud robots is highly dependent on a stable and low latency network. In areas with poor connectivity, the functionality of cloud robots can be compromised thereby limiting their adoption in the future. This restraint is expected to be especially prominent in emerging and underdeveloped countries with poor network infrastructure.
Lack of Standardization
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Cloud robotics is a very fragmented industry owing to the absence of standardized frameworks and protocols. This lack of standardization results in interoperability and compatibility issues, which are especially prominent in multi-vendor environments. Hence, lack of standardization is expected to have a negative impact on the global cloud robotics market forecast through 2031 and beyond.
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Cloud Robotics Market Competitive Landscape
Cloud robotics providers should invest heavily in product innovation to stay ahead of the competition. Targeting countries with high manufacturing activity is expected to be a popular strategy for cloud robotics companies in the long run. Collaborations and partnerships along with product launches are slated to be highly essential strategies for all market players in the long run.
Cloud Robotics Market Top Player’s Company Profiles
- Amazon Robotics (US)
- Google (US)
- Huawei (China)
- IBM (US)
- Microsoft (US)
- C2RO (Canada)
- Cloudminds (China)
- Hit Robot Group (China)
- V3 Smart Technologies (Canada)
- Rapyuta Robotics (Japan)
- Ortelio (US)
- Tend (US)
- ABB Ltd. (Switzerland)
- NVIDIA Corporation (US)
- KUKA AG (Germany)
- Omron Corporation (Japan)
- Robot Operating System (ROS) - Open Source (Global)
- Fetch Robotics, Inc. (US)
- SoftBank Robotics (Japan)
- Blue Ocean Robotics (Denmark)
- Cyberdyne Inc. (Japan)
- Yaskawa Electric Corporation (Japan)
Cloud Robotics Market Recent Developments
- In May 2024, Vention, a leading name in the cloud robotics business announced the addition of new capabilities for its Manufacturing Automation Platform (MAP). The addition of these new AI-powered capabilities makes Vention the first company to provide end-to-end platform to design, automate, order, deploy and operate automated equipment and robot cells in the cloud.
- In March 2023, RV Technology, a renowned robotics company based in Hong Kong announced the launch of Agnostic Robotic Control System (ARCS). The new cloud robotics platform is capable of managing and controlling different robots as it is powered by Microsoft Azure cloud technology.
- In May 2022, UiPath, a renowned provider of robotic process automation software announced the launch of Automation Cloud Robots with its 2022.4 platform release. The new SaaS robot offerings were aimed at simplifying the automation process for developers to maximize the scope of automation in organizations.
Cloud Robotics Key Market Trends
- Integration of Edge Computing: To address latency issues, cloud robotics companies can focus on adopting edge computing technology. This approach involves processing critical data closer to the robot, reducing reliance on cloud infrastructure and improving responsiveness, which is expected to help boost adoption in areas with poor network infrastructure in the future.
- Demand for Better Collaboration: Efforts to improve human-machine collaboration have always been prominent and of high importance in the robotics industry. Collaborative cloud robotics help improve the productivity of operations and also ensure safety of human workers as well. Hence, development of collaborative cloud robots is projected to emerge as a key cloud robotics market trend for companies in the long run.
Cloud Robotics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rapidly increasing demand for automation and advancements in cloud technologies are slated to drive the adoption of cloud robotics over the coming years. However, lack of standardization and reliance on stable networks are expected to impede the global cloud robotics market outlook in the future. North America is expected to spearhead the demand for cloud robotics on a global level owing to the presence of a strong technological infrastructure in countries such as the United States and Canada. Integration of edge computing and the development of collaborative robots are slated to emerge as key opportunities for cloud robotics providers through 2031 and beyond.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.6 billion |
| Market size value in 2031 | USD 72.6 billion |
| Growth Rate | 28.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cloud Robotics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cloud Robotics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cloud Robotics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cloud Robotics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Robotics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Robotics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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