The cloud robotics market is expected to generate the revenue at a healthier CAGR in the forecast period of 2016 to 2022. Rising internet and cloud infrastructure, rapid progress of wireless technology and rapid development of software frameworks and services for computational, storage, and communications infrastructure of modern data centers are the major drivers for the cloud robotics globally.
With the help of this model, mobile technology played the key role connecting the cloud based system to the robots and controllers in a system. This is a high-performance mobility that helps to provide the latency and bandwidth needed to support system stability and information exchange, which helps to facilitate the building of sophisticated and affordable, robotic systems. With the help of mobile, radio technologies will provide desired level of performance; hence the ability of 4G and 5G radio systems will allow 5G cloud robotics and will enable the uptake of robotics in new applications. Some industries might be leading development, but all sectors have a part to play in the evolution of cloud robotics, as they deploy robots to carry out a wide variety of tasks. Wireless technology had exposed rapid advancement in a wide range in short duration of time. The farfetched advancement shown in the field of satellite technology and computer chip have permitted people to update various new inventions at a furiously fast pace. This increasing high wireless technology with satellite technology and computer chip helps to increase the cloud robotics market.
On the basis of segmentation, the market of cloud robotics is segmented into technology and end users. On the basis of technology, the market of cloud robotics is further sub segmented as cloud computing, cloud storage and internet technologies. On the basis of technology, the market of cloud robotics is further sub segmented as manufacturer, automobile, health care, transportation, consumer services and others.
Some of the major market players are ABB Group, Adept Technology, Boston Dynamics, Ekso Bionics, Fanuc Corporation, Google, IBM, iRobot, KUKA AG, Lockheed Martin, Mazor Robotics, PV-Kraftwerker, Recon Robotics, Seegrid, SpaceX. Acquisitions, innovation and mergers are the key strategies adopted by the market players to sustain in the market. For example, in 2016, IBM has announced that they have completed the acquisition of Truven Health Analytics, a provider of cloud-based healthcare data, analytics and insights. Similarly in 2016, Google announced that they have completed the acquisition of Anvato a cloud based company.
Geographically, the market of cloud robotics is segmented in to North America, Asia Pacific, Europe and Rest of the world. The North America holds the largest market share of the cloud robotics followed by Asia Pacific. Due to high population and increasing business and growing internet users day by day helps to drive the market of Asia Pacific.