Global Internet of Robotic Things Market

Internet of Robotic Things Market Size, Share, Growth Analysis, By Component(Sensors, Actuators, Power Sources, Control Systems), By Software(Real-time Streaming Analytics, Security Solutions, Data Management, Remote Monitoring Systems), By Platform(Device Management Platform, Application Management Platform, Network Management Platform), By Application(Collaborative Industrial Robots, Service Robots), By Service(Professional Services, Managed Services), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2284 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 145 | Figures: 75

Internet of Robotic Things Market News

  • In November 2021, Amazon, a leading multinational organization operating in different industry verticals, announced the launch of its new AWS IoT RoboRunner. The company launched a public preview of this tool to help people manage fleets of robots seamlessly.
  • In April 2021, AMBER Robotics, a leading name in the IoT robotics space, announced the kickstarter launch of its generation of collaborative 7-axis robot called AMBER B1.
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Internet of Robotic Things Market size was valued at USD 21.4 billion in 2022 and is poised to grow from USD 26.58 billion in 2023 to USD 150.49 billion by 2031, growing at a CAGR of 24.2% in the forecast period (2024-2031).

Internet of robotic things providers should emphasize on capitalizing on the growing adoption of automation and rising popularity of the Industry 4.0 trend. Internet of robotic things companies should also closely track developments in the robotics space to keep innovating and driving their revenue. Internet of robotic things market players should also focus on collaborations and mergers to expand their market presence on a level. 'Cisco Systems Inc.', 'ABB Ltd.', 'Honda MotorsCo. Ltd.', 'Yaskawa Electric Corporation', 'Northrop Grumman Corporation', 'Bluefin Robotics Corporation', 'Aethon Inc.', 'Robert Bosch GmbH', 'Samsung Electronics Co. Ltd.', 'Kuka AG.', 'Irobot Corporation', 'eca group', 'FANUC CORPORATION', 'Intel Corporation', 'iRobot Corporation', 'Google LLC', 'Amazon.com Inc.'

Continual investments in research and development of novel technologies has resulted in significant strides in robotics and Internet of Things technologies. Advancements in both technologies open up new opportunities for internet of robotic things companies and drive market growth.

Human-Robot Collaboration: Internet of robotic things providers should focus on improving the scope of human-robot collaboration. Mastering human-robot collaboration will be essential for internet of robotic things companies looking to target industries where human interaction is of paramount importance such as healthcare and hospitality.

North America is predicted to dominate the internet of robotic things demand outlook across the forecast period. High investments in robotics adoption and growing availability of novel internet of robotic things solutions are key factors that allow North America to maintain its dominant stance across the forecast period. Rising use of automation in different industry verticals is also slated to help internet of robotic things market expansion in this region. The United States and Canada are slated to spearhead internet of robotic things demand outlook in this region going forward.

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Global Internet of Robotic Things Market

Report ID: SQMIG45A2284

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