Coherent Market Insights

Cloud robotics Market to Surpass US$ 25.93 Bn by 2030.

Cloud robotics Market to Surpass US$ 25.93 Bn by 2030. - Coherent Market Insights

Publish In: Jul 31, 2023

The Global Cloud Robotics Market, By Component (Hardware (Robot, Hardware Components), Software (Infrastructure as a Service (IaaS), Robotics as a Service (RaaS) & Platform as a Service (PaaS), Robotics Application Software), Services (System Integration, Connectivity Service, Other Professional Services)), By Implementation Type (Peer Based, Proxy Based, Clone Based), By Technology (Bluetooth, Wi-Fi, 3G,  4G, 5G, RF, Infrared), By Application ( Industrial Cloud Robotics (Automotive, Defense, Manufacturing, Transportation & Logistics, Others), Professional Service Cloud Robotics (Agriculture, Health Care (Hospitals and Clinics), Aerospace (Travel and Tourism), Retail, Others), Personal Service Cloud Robotics (Entertainment, Education, Personal Healthcare, Others)) and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Global Forecast to 2030”, is expected to be valued at US$ 25.93 Billion by 2030, exhibiting a CAGR of 22.8% during the forecast period (2023-2030), as highlighted in a report published by Coherent Market Insights.

Key Developments

  • In April 2022, Foxconn Industrial Internet (FII) announced a USD 30 million investment in Agile Robots AG, a Munich and Beijing-based automation firm. It is the company's second strategic investment in Agile Robots.
  • In June 2021, Hewlett Packard Enterprise has announced the acquisition of Determined AI. This San Francisco-based business provides a powerful and resilient software stack for training AI models at any scale using its open-source machine learning (ML) platform. HPE will combine Determined AI's unique software solution with its world-leading AI and high-performance computing (HPC) services to enable ML engineers in practically every industry to develop and train machine learning models to generate faster and more accurate insights from their data.

Impact of COVID-19:

During the covid-19 Pandemic, there was widespread disease coronavirus which was spreading all over the world this led to the temporary suspension of various businesses which severely affected the sales of automation solutions, such as robotics, in the North America, Europe and other region. To combat this disease government imposed lockdowns worldwide. As a result, the worldwide market was damaged by owing to such rules. Moreover, there was a huge impact on the revenue of the robotics market. But, According to coherent market research analysis, this situation will come under control in upcoming years.

To know the latest trends and insights prevalent in this market, click the link below:

Key Trends and Analysis of the Global Cloud robotics Market:

Advent of collaborative robots

Collaborative robot refers to human-robot collaboration, in which robots and humans work in close collaboration. The robot can understand human instructions including voice, gestures, etc., and commence operations accordingly. Moreover, the use of collaborative robots facilitate high efficiency in the operation and ensures the safety of human. In fact, robots while working with humans slow down the movement or pause the operation if it detects humans in their path.

Adoption of vision sensor technology

Vision sensor technology plays a vital role as it can detect the size, shape, and color of the package and can verify whether the labelling and code of the package is correct or not. If not, the package is automatically discarded and removed from the packaging line. It enhances the efficiency of the packaging process by detecting irregularities in the process accurately. Growing demand for vision sensor technology will be instrumental in increasing the competition among the vision sensor technology providers in the coming robots cab pick and firmly place over 20 vaccine cartridges at a time and over 500 syringes in sixty seconds.

Key players operating in the global Cloud Robotics Market are Universal Robots, Rockwell Automation, Inc., Yaskawa Electric Corporation, Kuka AG, Fanuc Corporation, ABB Group, Calvary Robotics,, Hot Black Robotics Srl, Rapyuta Robotics Co. Ltd., Automation IG, Motion Controls Robotics, Matrix Industrial Automation, Wolf Robotics LLC, Tech-Con Automation Inc.

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