The global cloud robotics market was valued at $2793 million in 2018 & is estimated to generate net revenue of approximately $19038 million by 2027, growing at a CAGR of 24.03%. A new concept was rising in the 1960s which was called “the cloud” is the remote access of the centralized servers of very high storage capacity and processing strength, and at the same time, the concept of cloud computing came into existence. This was the intergalactic computer network, which was used to share the common storage space and processing strength & helped in shifting the complex processing tasks to the cloud. During the period from 2009-2018, the cloud-computing technology has been able to revolutionize both the enterprise IT as well as supplier landscape. Moreover, the cloud computing technology has successfully evolved from being promoted by the service providers to becoming the mainstream requirement for most of the modern enterprises today.

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Cloud computing has gone through several changes and transformations. It has witnessed several milestones — for example, the introduction of Salesforce.com in the year 1999, which made the delivery of enterprise applications through a simple website. The second biggest milestone was the entry of players such as Google LLC and Microsoft Corporation in cloud computing during 2009.

The cloud-based data centre traffic is expected to increase three folds from 2016 to 2021. As the advancements in cloud computing are moving ahead and industrial automation is also taking place at a rapid pace. The demand for robots in the industrial environment is rising. Moreover, the service robots are also gaining traction across commercial and residential end-users. With the advent of the Internet of Things (IoT) and the concept of connected devices, this has gained pace in the last decade (2009-2018). In the year 2010, James Kuffner coined the term “cloud robotics”. Cloud robotics mainly aims to bring together robots with cloud computation, cloud-storage and high-speed communication resources. The cloud robotics aims to shift the computational and storage tasks to the cloud to reduce the burden on the device and use the higher storage and processing capabilities available on the cloud.

Cloud robotics can be defined as the one which provides access to the physical robot and control over its operation at any time and from any location with the help of internet and other connected technologies. The cloud robotics is used across commercial, industrial and consumer applications of the robots. There are several advantages of cloud robotics:

• Remote Access: The user can access and control the robots from remote locations.
• Efficiency: Cloud robotics helps to enhance the operational efficiency across industrial as well as commercial end-users.
• Cost-Effectiveness: The overall cost of operation comes down with the usage of cloud robotics.

Factors that are driving the growth of the market are:

• Wider adoption of cloud robotics due to 5G
• Smart manufacturing (Industry 4.0) is boosting the demand for cloud robotics
• Increase in the popularity of the connected robots among domestic users

Security concerns and high setup cost are hindering the global cloud robotics market. Unemployment due to cloud robotics is creating moral challenges for the market.

The Cloud Robotics market has been segmented on the basis of business model, component, end-user, deployment model and geography. Based on the component, the market is sub-segmented into hardware and software. The software component of the cloud robotics is expected to grow the fastest among other components over the forecast period. The software in robotics is a set of commands or instruction that are interfaced with the mechanical devices to perform the predetermined task as per programming. Software for the smart robot consists of artificial intelligence (AI), image processing and applications in face recognition and threat detection and others.

The global Cloud robotics market is segmented as:

• Market By Component
  • Hardware
  • Software
• Market By Business Model
  • Infrastructure-As-A-Service
  • Software-As-A-Service
  • Platform-As-A-Service
• Market By Deployment Model
  • Public Cloud
  • Private Cloud
  • Hybrid Cloud
• Market By End-User
  • Industrial
    • Automotive
    • Manufacturing
    • Warehouse & Logistics
    • Other
  • Commercial
    • Agriculture
    • Healthcare
    • Retail
    • Banking
    • Other
  • Consumer
    • Entertainment
    • Cleaning
    • Personal Care
    • Education
    • Others

Geographically, the global cloud robotics market has been segmented on the basis of four major regions, which include:

• Cloud Robotics North America Market – U.S. & Canada
• Cloud Robotics Europe Market – UK, France, Germany, Italy, Spain, Russia and Rest of Europe
• Cloud Robotics Asia Pacific Market – China, India, Japan, South Korea, Australia and Rest of Asia Pacific
• Rest of World- Latin America and Middle East & Africa

North America dominates the global cloud robotics market in terms of revenue. The rise in demand of cloud robotics in North America is primarily driven by the presence of a large number of enterprises that are increasingly adopting cloud robotics.

The major market players of the global cloud robotics market are:

• Aethon
• Amazon Robotics Llc
• C2ro Cloud Robotics
• Cisco Systems, Inc.
• Cloudminds
• Fetch Robotics, Inc.
• Huawei Technologies Co. Ltd.
• IBM Corporation
• Intel Corporation
• Kuka Ag
• Microsoft Corporation
• Omron Adept Technologies, Inc.
• Ortelio Ltd
• Rapyuta Robotics Co. Ltd.
• Softbank Robotics Group Corp.

Company profiles of the prominent market players are discussed in detail. Most of the companies are adopting strategies such as merger & acquisition, partnership, contracts, agreements, new product launch, in order to gain a competitive edge over other companies.

Key Findings in the global cloud robotics market:

• The software component is projected to grow at a significant CAGR
• SaaS business model is expected to show the highest growth rate
• The public cloud deployment model is dominant in the cloud robotics market
• The industrial segment is the largest end-user in the cloud robotics market