Cloud Robotics Market Size - By Component (Solution, Services), Service Model (IaaS, PaaS, SaaS), Robot Type (Industrial Robot, Service Robot), Industry Vertical (Manufacturing, Military and Defense, Retail and E-commerce, Healthcare) & Forecast, 2024 - 2032

Cloud Robotics Market Size - By Component (Solution, Services), Service Model (IaaS, PaaS, SaaS), Robot Type (Industrial Robot, Service Robot), Industry Vertical (Manufacturing, Military and Defense, Retail and E-commerce, Healthcare) & Forecast, 2024 - 2032

Cloud Robotics Market Size

Cloud Robotics Market size was valued at USD 5 billion in 2023 and is projected to register a CAGR of 23% between 2024 and 2032, propelled by the growing adoption of the Internet of Things (IoT). According to NASSCOMM data, the IoT market in India could expand to $1.1 trillion in 2023.

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The growing ubiquity of high-speed internet and the proliferation of IoT devices have enabled robots to connect to the cloud seamlessly. This connectivity allows robots to offload computationally intensive tasks, access vast amounts of data, and receive real-time updates and improvements. It also facilitates remote monitoring and control of robots, making them more versatile and capable, further stimulating market growth.
 

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Cloud robotics heavily relies on low-latency, high-speed internet connections for real-time communication between robots and the cloud. In remote or poorly connected areas, latency issues can arise, leading to delays in robot responses and reduced operational efficiency. Moreover, some Industry Verticals, such as those in healthcare or manufacturing, require ultra-low latency, making it challenging to rely solely on cloud-based solutions.

To address these challenges, edge computing and edge AI are being explored as alternatives to reduce latency and improve connectivity, which will help strengthen the cloud robotics market outlook over the next ten years.

COVID-19 Impact

The COVID-19 pandemic significantly impacted the cloud robotics industry by accelerating its growth and adoption. The need for remote operations and automation surged across various sectors during lockdowns. For instance, in healthcare, robots were deployed for tasks like patient care and disinfection to minimize human contact. In logistics, e-commerce demand skyrocketed, increasing the demand for cloud-connected robots in warehouses for order fulfillment. Additionally, social distancing measures highlighted the importance of teleoperation and remote monitoring capabilities, driving investments in cloud-based robotics solutions to maintain business continuity while ensuring safety.

Cloud Robotics Market Trends

The rollout of 5G networks promises to revolutionize the cloud robotics industry landscape by providing ultra-fast, low-latency, and reliable wireless connectivity. As of November 30, 2022, the Ookla® 5G Map™ reported a total of 127,509 5G Robot Types across 128 countries. This marked a significant increase from the previous year when there were 85,602 5G Robot Types spread across 112 countries.

With 5G, robots can communicate with cloud services and other robots in real time, enabling Industry Verticals that demand split-second decision-making and precise control. This trend is particularly significant in industries like telemedicine, autonomous vehicles, and remote industrial automation, where instantaneous communication is critical. The adoption of 5G in cloud robotics is expected to unlock new possibilities and enable more complex and responsive robotic systems.

Cloud Robotics Market Analysis

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Based on component, the solution segment holds around 80% of the market share in 2023. Cloud robotics solutions are experiencing surging demand as industries recognize their transformative potential. The ability to connect robots to the cloud offers scalability, data analytics, and real-time updates, driving Industry Verticals in manufacturing, healthcare, logistics, and agriculture. With the rising need for automation and remote operations, cloud robotics is at the forefront, offering enhanced capabilities and adaptability. This demand is fueled by the pursuit of operational efficiency, cost savings, and the desire to leverage cloud computing's power to make robots smarter and more versatile, ultimately shaping the future of various industries.

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Based on service model, the SaaS segment accounted for 42% of the cloud robotics market share in 2023, due to its inherent advantages. SaaS offers a cost-effective and scalable approach, enabling businesses to access cloud robotics capabilities without significant upfront investments in infrastructure or software development. This subscription-based model also allows for rapid Robot Type, seamless updates, and easy scalability, making it ideal for organizations looking to adopt cloud robotics solutions quickly. Moreover, SaaS ensures accessibility and collaboration across geographically dispersed teams, promoting efficiency and innovation in the rapidly evolving field of cloud robotics.

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North America cloud robotics market recorded around 33% of the revenue share in 2023. The country's strong technological infrastructure and well-established cloud computing ecosystem provide a solid foundation for cloud robotics development and Robot Type. The COVID-19 pandemic accelerated the demand for automation and remote solutions, driving increased adoption of cloud-connected robots in various sectors, including healthcare, logistics, and manufacturing. Besides, a thriving startup ecosystem and significant investments in research and development contribute to innovation and competitiveness, positioning the U.S. as a leader in the market.

Cloud Robotics Market Share

The major companies operating in the cloud robotics industry

• AWS
• Microsoft Corporation
• IBM Corporation
• Google Inc
• Rockwell Automation Inc.
• Huawei 
• ABB

The IBM Corporation and Microsoft are holds approximately 9% of the market share. Both IBM and Microsoft are well-established technology giants with extensive expertise in cloud computing. They have robust cloud platforms (IBM Cloud and Microsoft Azure) that provide the infrastructure, scalability, and computational resources required for cloud robotics Industry Verticals. IBM and Microsoft have invested heavily in artificial intelligence (AI) and the Internet of Things (IoT) technologies, which are closely related to cloud robotics. Their cloud platforms offer AI and IoT services that can be seamlessly integrated into robotic systems, enhancing perception, decision-making, and data analytics capabilities.

Cloud Robotics Industry News

• In February 2023, Asensus Surgical unveiled a multi-year partnership with Google Cloud. This collaboration involves the integration of Google Cloud's robust cloud data architecture and machine learning technology into the Asensus surgical robot platform. This strategic move aims to enhance the functionalities of Asensus' performance-guided surgery framework, leveraging the capabilities of its Intelligent Surgical Unit (ISU).

The cloud robotic market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032, for the following segments

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Market, By Component

• Solution
• Services

Market, By Service Model

• IaaS
• PaaS
• SaaS

Market, By Robot Type

• Industrial Robot
• Service Robot

Market, By Industry Vertical

• Manufacturing
• Military and Defense
• Retail and E-commerce
• Healthcare
• Other

The above information has been provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Italy
  • Germany
  • Netherland
  • France
  • Italy
  • Spain
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia

Frequently Asked Questions (FAQ)

How big is the cloud robotics market?

The market size of cloud robotics reached USD 5 billion in 2023 and is set to witness 23% CAGR from 2024 to 2032, due to the growing adoption of the Internet of Things (IoT).

Why is the demand for cloud robotic solutions rising?

The solution component segment held over 80% of the market share in 2023, driven by higher adoption in manufacturing, healthcare, logistics, and agriculture.

What factors are driving North America cloud robotics industry?

North America garnered over 33% of the market share in 2023, owing to the presence of strong technological infrastructure and well-established cloud computing ecosystem.

Who are the leading cloud robotics market players?

Some of the major cloud robotic firms are AWS, IBM Corporation, Rockwell Automation Inc, Microsoft Corporation, and Google Inc.