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Cloud Robotics Market Prognosticated To Perceive Accruals With 29% of CAGR; MRFR Unleashes Industry Insights Up To 2022
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Cloud robotics is a field of robotics that attempts to raise cloud technologies such as cloud computing, cloud storage, and other internet technologies centered on the benefits of converged infrastructure and shared services for robotics. Cloud robotics is an upcoming trend in the intelligent system of an industry. It consists of characteristics of both robotics as well as cloud base technology. From robotics, it has derived three functionalities such as sensation, actuation, and control whereas, from cloud technology it has enabled ubiquitous, convenient, on demand network access to a shared pool of configurable resources such as servers and storage systems which support in minimal management effort or service provider interaction.
The key drivers contributing to the growth of the Cloud Robotics Market are the rising demand for automation across industries, rising internet and cloud infrastructure, rapid progress of wireless technology and rapid development of software framework. However, lack of technical expertise and high installation cost are some of the factors expected to hamper the growth of cloud robotics market in the forecast period 2016-2022.
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Global Cloud Robotics Market is expected to reach approximately USD 17 Billion by the end of 2022 with 29% CAGR during forecast period 2016-2022.
The Global Cloud Robotics market has been segmented on the basis of type, connectivity, application and region. By type, the market has been bifurcated into proxy based, peer based and clone based cloud robotics. On the basis of connectivity, the market can be segmented as Wi-Fi, bluetooth, 3G, 4G, RF and infrared connectivity. On the basis of application the market includes- defense, manufacturing, transportation, agriculture, healthcare, retail and aerospace among others. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and RoW.
On the basis of connectivity, the 3G segment accounted for the largest market share due to its reliability, accessibility and easy to use features. However, the technology has become standard as more number of companies are introducing competitive products thereby expected to limit the market growth in coming years.
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