Cloud Robotics Market Size & Share, by Component (Software, Hardware), Service Model (IaaS, PaaS, SaaS), Robot Type (Industrial Robots, Service Robots), Technology (Bluetooth, Wi-Fi, 3G, 4G, 5G, RF, Infrared), Application (Automotive, Defense, Manufacturing, Agriculture, Healthcare, Aerospace, Education), Organization (SMEs, Large Enterprises) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 366
  • Published Date: Jul 22, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Cloud Robotics Market size was over USD 6.36 Billion in 2023 and is set to cross USD 145.14 Billion by the end of 2036, growing at more than 27% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cloud robotics is estimated at USD 7.92 Billion. The growth of the market is primarily attributed to the worldwide rising technological advancements such as better language modeling, and low-code and no-code AI in artificial intelligence (AI), increasing demand for remote and work-from-home jobs, and the rise of the pandemic increasing these preferences. For instance, OpenAI launched GPT-3, the most advanced (and largest) language model ever created in 2021, with approximately 175 billion "parameters"- variables and data points that machines are able to process language. OpenAI is also working on an even more powerful successor, GPT-4 that is estimated to be even more advanced and powerful.

Apart from this, cloud robotics is very valuable in handling big data, parallel grid computing, crowdsourcing, and other work. The rapidly growing adoption of IoT-connected devices, increasing centralized monitoring platforms, and control of industrial tools are estimated to boost the growth of the global cloud robotics market over the forecast period. For instance, nearly 28 billion devices are estimated to be on the IoT network by the end of 2022.


Cloud Robotics Market Overview
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Cloud Robotics Sector: Growth Drivers and Challenges

Growth Drivers

  • Significant Adoption of Robotic Process Automation (RPA) in the Manufacturing Sector – Robotic process automation (RPA) technology is a radical trend and one of the most cutting-edge digital transformation technologies that organizations use to cut costs, save time, maximize profits through the automation of repetitive tasks, and maintain business continuity all through unparalleled and unexpected crisis events. Many manufacturing processes, including painting, milling, industrial equipment, welding, and assembling, are being automated. These robots use electrical, mechanical, and software systems to perform the assigned task with greater accuracy, speed, and precision than humans. Thus, the increasing adoption of RPA in manufacturing sector is leading the growth of the cloud robotics market over the forecast period. For instance, over 76% of businesses are expected to have already implemented RPA into their procedures by July 2022, while 17% preparing to do so within the next three years.
  • Upsurge in Cloud Technology Integration Owing to Increasing Storage Needs – For instance, more than 100 zettabytes of data are estimated to be stored in the cloud by 2025.
  • Global Evolution of Internet Bandwidth as More People are Working from Home - In 2022, global internet bandwidth is predicted to increase by 29%.
  • Worldwide Increasing Number of Industrial Robots with Rising Restrictions for Social Distance for People - The current number of industrial robots across the globe is estimated to be around 3.2 million. This figure represents a 9% increase over the prior year.
  • Rise of 5G Network Owing to Advancements in Technology Day by Day – For instance, Since the very first rolled-out phase in 2019, the 5G network is now available in nearly 71 countries across the globe.

Challenges

  • High Cost of Cloud Robotics
  • High Capital Investment
  • Data Privacy and Security Concerns- Data privacy and security were significant reasons that hinders the cloud robotics market growth. Cloud service providers can control the hosting data and it contains considerable information about the client such as personal data. This personal data can be tracked if the cloud server gets hacked and the data of users are at risk. The hacking robots can cause accidents and severe damage to the client which hampers cloud robotics market growth.

Cloud Robotics Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

27%

Base Year Market Size (2023)

USD 6.36 Billion

Forecast Year Market Size (2036)

 USD 145.14 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Cloud Robotics Segmentation

Robot Type (Industrial Robots, Service Robots)

The global cloud robotics market is segmented and analyzed for demand and supply by robot type into industrial robots, and service robots, out of which, the industrial robots segment is expected to hold the highest growth over the forecast period owing to the growing count of industrial robots, and significantly increasing implementation of robotics in numerous industrial sectors. As per the Census Bureau data from the Annual Survey of Manufactures, in the United States, the overall percentage of employees working in organizations that are using robots (such as transportation equipment, primary metal, plastics, and rubber products) surpassed 30% in 2018.

Our in-depth analysis of the global cloud robotics market includes the following segments:

       By Component

  • Software
  • Hardware

       By Service Model

  • IaaS
  • PaaS
  • SaaS

       By Robot Type

  • Industrial Robots
  • Service Robots

       By Technology

  • Bluetooth
  • Wi-Fi
  • 3G
  • 4G
  • 5G
  • RF
  • Infrared

        By Application

  • Automotive
  • Defense
  • Manufacturing
  • Agriculture
  • Healthcare
  • Aerospace
  • Education
  • Others

       By Enterprise Size

  • SMEs
  • Large Enterprises

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Cloud Robotics Industry - Regional Synopsis

North America Market Forecast

The North America region cloud robotics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The notable presence of cloud service providers i.e., Amazon LLC, and Microsoft Corporation, huge deployment of AI in the industrial sector, and significantly increasing demand for advanced technologies i.e., machine learning, cloud computing, artificial intelligence, and IoT in the region. For instance, in North America, the overall number of industrial and consumer Internet of Things (IoT) connections is projected to reach approximately 5.6 billion by 2025. Whereas the number of IoT connections in the region reached 2.7 billion in 2019. Additionally, rising mobile technologies connect automated systems with controllers, and robots, and provide premium performance to the data centers in the communication infrastructure owing to increasing growth opportunities in the cloud robotics market.

Research Nester
Cloud Robotics Market Share
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Companies Dominating the Cloud Robotics Landscape

    • Google LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Microsoft Corporation
    • CNC Robotics Ltd
    • Boston Dynamics, Inc.
    • inVia Robotics, Inc.
    • Rockwell Automation Inc.
    • Calvary Robotics
    • Universal Robots A/S
    • YASKAWA Electric Corporation
    • V3 Smart Technologies Pte Ltd

In the News

  • Universal Robots A/S announced the addition of a new 20kg cobot to its product line. UR20 is the company's latest cobot and features an all-new design based on company’s expertise in highly refined engineering.

  • Boston Dynamics, Inc. announced the availability of its newest versatile, mobile robot Stretch which is exclusively designed for warehouses and distribution centers for commercial purchase. Stretch is one of the world's most advanced mobile robots, part of a new generation of mobile robots.

Author Credits:  Abhishek Verma


  • Report ID: 366
  • Published Date: Jul 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of cloud robotics is estimated at USD 7.92 Billion.

The cloud robotics market size was over USD 6.36 Billion in 2023 and is set to cross USD 145.14 Billion by the end of 2036, growing at more than 27.2% CAGR during the forecast period i.e., between 2024-2036. Significant adoption of robotic process automation (RPA) in manufacturing sector, upsurge in cloud technology integration, and global evolution of internet bandwidth are some major factors driving the growth of the market.

North America industry is projected to hold majority revenue share by 2036, impelled by notable presence of cloud service providers i.e., Amazon LLC, and Microsoft Corporation, huge deployment of AI in the industrial sector, and significantly increasing demand for advanced technologies in the region.

Google LLC, Microsoft Corporation, CNC Robotics Ltd, Boston Dynamics, Inc., inVia Robotics, Inc., Rockwell Automation Inc., Calvary Robotics, Universal Robots A/S, YASKAWA Electric Corporation, V3 Smart Technologies Pte Ltd
Cloud Robotics Market Report Scope
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