Cloud Robotics Market Share
Market Overview
The worldwide Cloud Robotics Market Share is projected to generate nearly USD 17 billion of market value for the forecast year of 2022. Further, the global market is registered to account for 29% of the CAGR between the years 2016 to 2022. Generally, the cloud robotics industry gives focus on the advantages of shared services and connected infrastructure by working on the upliftment of cloud technologies such as cloud computing, cloud storage, and other internet-related technologies.
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The increasing demand for industrial robotics among various verticals is predicted to grow the global market in the forecast period. Moreover, the increasing internet market requires more cloud robotics systems, which is boosting up the global market. Overall, the dependence of industries on robotic cloud systems has increased nowadays for the development in wireless technology progress and software structures. As a result, the global Cloud Robotics Market Share is thriving in the coming years.
Apart from this, the global market has significant opportunities for the key players and manufacturers because of the rising Cloud Robotics Market Share trends in the specific field of artificial intelligence. However, the worldwide market growth has been affected due to the overall economic rate and COVID19 pandemic outbreak. In addition, the higher installation cost of cloud robotics might hamper the growth of the Cloud Robotics Market Share during the research timeframe.
Market Segmentation:
The Cloud Robotics Market Share is segmented based on connectivity, application, and type. Based on the connectivity segment, the worldwide market is consists of Bluetooth, 3G, 4G, radiofrequency, Wi-Fi, and infrared connectivity.
On the basis of application segment, the global market has been classified into healthcare, defence, retail, manufacturing, aerospace, transportation, agriculture, and others. Among all, the manufacturing segment is projected to account for the largest market share during the research period.
The current market has been segmented into clone-based, proxy-based, and peer-based cloud robotics in terms of type segment.
Regional Analysis:
Geographically, the Cloud Robotics Market Share has been classified into Asia Pacific, Europe, Latin America, North America, and the rest of the world.
Among all regions, the North American region is overwhelming by generating a higher market share throughout the forecast period due to the rising implementation of robotics technology in the healthcare, defence, and security sectors. Moreover, mobile technologies play an important role in connecting automated systems to robots and controllers and delivering higher performance in the data centre's communication infrastructure, driving the regional market growth.
Apart from that, the Asia Pacific region is predicted to witness rapid growth in the coming years because of the increasing demand for advanced technologies and internet infrastructure. Moreover, the countries like China are known as the biggest spender on public cloud, which is boosting up the Asia Pacific regional market.
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Industry News:
In May 2019, the prominent market player IBM announced its relationships with various European companies, including Vinturas, Moovster, and Volkswagen. This relationship was established to redefine its auto industry's future with AI and hybrid cloud. Moreover, this merging is based on the personalized digital services around the vehicle.
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