Cloud Robotics Global Market Report 2024

Cloud robotics refers to robotic solutions, which utilize technologies such as cloud computing, cloud storage, and other internet technologies. Cloud robotics provides vast amounts of data to robotic devices without having to incorporate it directly via on-board memory.

The main types of cloud robotics include peer-based, proxy-based and clone based, and they are deployed over the private cloud, public cloud and hybrid cloud. The peer-based cloud robotics refers to robotics that runs on a computing unit in which the robot and each virtual machine are distributed in such a way that tasks can be divided into smaller modules for execution over a subset of the nodes in the computing. The end-user industries of cloud robotics include manufacturing, military & defense, retail & e-commerce, healthcare & life sciences, and other end-user industries.

The cloud robotics market research report is one of a series of new reports that provides cloud robotics market statistics, including cloud robotics industry global market size, regional shares, competitors with a cloud robotics market share, detailed cloud robotics market segments, market trends and opportunities, and any further data you may need to thrive in the cloud robotics industry. This cloud robotics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cloud robotics market size has grown exponentially in recent years. It will grow from $9 billion in 2023 to $11.42 billion in 2024 at a compound annual growth rate (CAGR) of 26.9%. The growth in the historic period can be attributed to cost-efficiency and scalability, data storage and processing capabilities, globalization of supply chains, security and data privacy measures, remote monitoring and maintenance.

The cloud robotics market size is expected to see exponential growth in the next few years. It will grow to $30.05 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The growth in the forecast period can be attributed to decentralized cloud robotics architecture, focus on energy efficiency, robotic process automation (RPA) growth, customization and modular robotics. Major trends in the forecast period include 5g connectivity for low-latency communication, edge computing integration, robotics as a service (raas) models, digital twins for simulation and training, cross-industry adoption.

During the forecasting period, the increase in the use of robots for industrial automation along with the rising demand for robotics-as-a-service (RaaS) will drive the cloud robotics market. The automotive industry is increasingly shifting towards a robot-as-a-service model due to the increasing labour costs, labour shortage, and reduction in the cost of robotic systems. For instance, according to the Association for Advancing Automation (A3) data, by 2025, utilization of cloud computing is expected to increase by 17% to 2018 levels, and Factories and industrial concerns in North America ordered a record 29,000 robots during the first nine months of 2021, a 37% increase from the previous year. Therefore, the increase in the use of robots for industrial automation along with the rising demand for robotics-as-a-service (RaaS) ultimately drives the cloud robotics market growth.

The increased usage of smart devices is expected to propel the growth of the cloud robotics market going forward. Smart devices are objects, appliances, or gadgets connected to the internet or other devices, designed to provide automation, remote control, and data exchange. Cloud robotics enhances the capabilities of smart devices by enabling them to offload computation and access vast resources on the cloud for improved performance and functionality. For instance, in 2023, according to the Survey by Canada Statistics, a Canada-based government agency, reveals a growing trend in the adoption of smart devices that are connected to the internet, such as smart home devices. The data shows that the utilization of these devices has increased, with the adoption rate rising from 42% in 2020 to 47% in 2022 in Canada. Notably, among the various smart devices, smart speakers have gained significant popularity, with 30% of respondents indicating them as their preferred choice. Therefore, the increased usage of smart devices is driving the cloud robotics market.

Technological advancement is a key trend gaining popularity in the cloud robotics market. Key players operating in the cloud robotics market are focusing on developing robotics and automation more broadly to strengthen their position in the market. For instance, in November 2021, Amazon launched AWS IoT RoboRunner, a new robotics service-designed incubator program in collaboration with nonprofit MassRobotics to make it easier for enterprises to build and deploy apps that enable fleets of robots to work together and to tackle challenges in automation, robotics, and industrial internet of things (IoT) technologies.

Major companies operating in the cloud robotics market are launching cloud robotic platforms to address the need for coordinating and controlling robots. Cloud robotic platforms are systems that enable robots to offload computation, access data, and leverage cloud resources for enhanced capabilities and coordination. For instance, in March 2023, RV Technology, a China-based robotic applications and systems developer, launched the ARCS, a centralized cloud robotic platform powered by Microsoft Azure, to address community needs and support various sectors such as healthcare, smart cities, logistics, and education. ARCS can manage and control robots from multiple brands and is used in fields including rehabilitation and healthcare, providing autonomous and refined care services while also easing the burden on healthcare professionals. ARCS streamlines programming, integration, and data management, paving the way for AI integration and providing tailor-made suggestions through data analysis for sustainability and performance enhancement.

In August 2021, Zebra Technologies a U. S-based leading firm an innovator of the front line of business with solutions and partners acquired Fetch Robotics for an undisclosed amount. The acquisition forms to strengthen the businesses by building on the strength of their existing enterprise asset intelligence vision and growth in intelligent industrial automation by embracing new modes of empowering workflows. Fetch Robotics is a California-based provider of wide range of robots for automation in manufacturing and warehousing operations.

Major companies operating in the in the cloud robotics market report are ABB Ltd., Microsoft Corporation, IBM Corporation, C2RO Cloud Robotics Inc., Amazon Robotics LLC,Calvary Automation Robotics LLC,CloudMinds,Fanuc Corporation,Google LLC,Hit Robot Group Co Ltd.,Huawei Technologies,Kuka AG,Ortelio Ltd.,Rapyuta Robotics Co. Ltd.,Rockwell Automation Inc.,V3 Smart Technologies PTE Ltd.,CNC Robotics Ltd.,Robocloud Co. Ltd.,Relativity Space,Arrow Electronics Inc.,Boston Dynamics,Clearpath Robotics,Fetch Robotics Inc.,Grey Orange Pte. Ltd.,Locus Robotics,Omron Adept Technologies,Rethink Robotics,Sarcos Robotics,Soft Robotics,Universal Robots

North America was the largest region in the cloud robotics market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the cloud robotics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The cloud robotics market includes revenues earned by entities by providing services such as Simultaneous localization and mapping (SLAM), grasping, and navigation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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