Discover a Detailed Examination of the Cloud-Based Smart Robotics (Cloud Robotics) Market
Posted: May 10, 2020
As the advancements in cloud computing are progressing, and industrial automation is also taking place at a rapid pace. Apart from the demand for robots in an industrial environment, service robots are also gaining traction across commercial and residential end-users. Over the last decade (2009-2018), the rising popularity of the Internet of Things (IoT), and the concept of connected devices have boosted the growth of this market.
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The growth of the global cloud-based smart robotics market is driven by numerous factors that include growing popularity of connected robots across various industries, rise in popularity of industry 4.0, advancement in artificial intelligence technologies, the emergence of high-speed 5G communication, increased productivity and efficiency at the workplace, minimal infrastructure, and flexible operation, declining costs of cloud robotics and high return on investment, among others. Furthermore, the rise in awareness about cloud robotics is propelling its demand, especially in developing nations. An increase in investment and a rise in trend of connected devices and IoT are some of the factors creating viable opportunities for players operating in the global cloud-based smart robotics market. However, security-related concerns and requirements of high initial cost are some of the factors that are restraining its market growth.
The overall ecosystem of the global cloud-based smart robotics market comprises software providers, system designers, technology providers, and software integrators, among others. The global cloud-based smart robotics market dominates the developed regions, such as North America and Europe, and the market is gradually gaining popularity in regions such as the Asia Pacific and Middle East & Africa (ME&A). The market is expected to achieve a high growth rate in the upcoming years (2018-2023) owing to technological improvement, massive demand from different end-users, and a rise in awareness about the cloud robotics.
The global cloud-based smart robotics market is becoming increasingly competitive as new players are entering the market. Several new entrants have debuted in the market that provides advanced cloud robotics platforms for different industries and applications and compete in terms of technological innovation, the functionality of the system, and cost. Leading companies, such as Amazon Robotics, IBM Corporation, Intel Corporation, Google LLC, Microsoft Corporation, and C2RO Cloud Robotics, are adopting inorganic growth strategies such as mergers & acquisitions to strengthen their product portfolio.
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The competitive landscape for the global cloud-based smart robotics market shows an inclination towards companies adopting strategies, such as product launches, partnerships, business expansion through funding, and acquisition, among others. Among all the strategies adopted, product launches have dominated the market and are the most widely adopted strategy among the cloud robotics providers.
Amazon Robotics, IBM Corporation, Intel Corporation, and Microsoft Corporation are some of the prominent companies because of their wide range of product launches and partnerships, collaborations, contracts, and agreements. These companies gained high competitive strength in the global cloud-based smart robotics market and also have a significant regional presence.
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