A new report by research firm Tractica forecasts global revenue for cloud robotics will increase from $5.3 billion in 2018 to $170.4 billion in 2025. The firm said that while the market is at a nascent stage of development, more companies are understanding its importance about what the market is, how it works, and implications for business.
The report classifies cloud robotics as a combination of cloud computing and robotic technologies in the form of hardware, software, and services. The market is differentiated from general robotics through the use of teleoperation and cloud technologies, Tractica said. It also utilizes a cloud-based business model, which enables connected robots-as-a-service (RaaS) offerings for more rapid deployment of adaptive robotics solutions.
“The benefits of cloud computing and cloud-based IT services also apply to cloud robotics,” said Glenn Sanders, a senior analyst at Tractica. “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 covers the market and technology issues, as well as development in the industrial, enterprise, military, consumer, unmanned aerial vehicle, and autonomous vehicle sectors worldwide.
Key industry players noted in the report include Aethon, Alibaba, Amazon, Brain Corp., C2RO, Calvary Robotics, CloudMinds, Fetch Robotics, Google, Intel, Lockheed Martin, Microsoft, NVIDIA, Ortelio/NOOS, RightHand Robotics, Rockwell Automation, Siasun, SoftBank Robotics, and Tend.AI.