While the global cloud robotics market is at a nascent stage of development, companies are becoming aware of its growing importance and are in the early stages of understanding what cloud robotics is, how it works, and what the implications are for their businesses. According to a new report from Tractica, cloud robotics, which is a combination of cloud computing and robotics technologies in the form of hardware, software, and services, is differentiated from general robotics through the use of teleoperation and cloud technologies. The emerging cloud-based robotics business model that enables connected robot as a service (RaaS), which allows for the more rapid deployment of adaptive robotic solutions, is another key differentiator.
Tractica forecasts that global revenue for cloud robotics will increase from $5.3 billion in 2018 to $170.4 billion in 2025.
“The benefits of cloud computing and cloud-based IT services also apply to cloud robotics,” says senior analyst Glenn Sanders. “The same factors that are driving the growth of cloud technology and integration with the Internet of Things (IoT) and AI and the introduction of 5G connectivity are expected to stimulate strong growth in the cloud robotics market.”
Tractica’s report, “Cloud Robotics”, examines the market and technology issues related to cloud robotics, as well as the development of global markets across the industrial, enterprise, military, consumer, unmanned aerial vehicle (UAV), and autonomous vehicle (AV) sectors. Market forecasts, segmented by type (RaaS hardware, RaaS services, and cloud services) and industry, extend through 2025. The report discusses the global market trends, drivers, and challenges that will influence the development of cloud robotics. A detailed picture of market participants is presented based on interviews with CEOs and research profiling more than 20 key players. An Executive Summary of the report is available for free download on the firm’s website.