Press Release

The cloud robotics market has been segmented by end-user into industrial, military, commercial, personal and other sectors. Among these segments, the industrial and commercial sectors are anticipated to drive the growth of cloud robotics market with significant market share over the forecast period. The ability of cloud robotics to perform intensive tasks such as data assessment, image processing, scanning and voice recognition among others is anticipated to propel the demand for cloud robotics and is further estimated to boost the growth of the cloud robotics market with noteworthy revenue by the end of 2024.

The global market of cloud robotics is expected to reach the market valuation of about USD 3100.1 Million by the end of 2024 by expanding at a compound annual growth rate of 30.1% over the forecast period. Factors such as rising technological advancement in robotics, ease of operating and comfort combined with wide adoption of robotics in service sector are anticipated to boom the Cloud Robotics Market in upcoming years.

In the regional segment, Europe region is the biggest market of the cloud robotics owing to growing consumer awareness towards robotics and presence of some of the major cloud robotics companies in the region. Further, the North America region is the second leading market in terms of market share and is estimated to witness remarkable growth over the forecast period.

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Growing Demand for Wide Scale Adoption of Robotics

The growth of the market is driven on account of the benefits of robotics in our personal and professional life owing to rising adoption of high-tech machines combined with their advancement in agriculture, defense & security sector. Further, the wide range of applications of cloud robotics in education, manufacturing, logistics and homes among others is expected to benefit the expansion of cloud robotics market around the globe.

However, slow adoption rate, lack of user guidance and high cost of cloud robotics are some of the factors that are anticipated to dampen the growth of cloud robotics market in the near future.

The report titled “Cloud Robotics Market: Global Demand Analysis & Opportunity Outlook 2024delivers detailed overview of the cloud robotics market in terms of market segmentation by end-user, by connectivity, by deployment, by application and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the cloud robotics market which includes company profiling of V3 Smart Technology Pvt. Ltd., Hit Robot Group, ABB Group, Adept Technology, Boston Dynamics, Fanuc Corporation, Rockwell Automation Inc., Rapyuta Robotics Co. Ltd., Universal Robotics A/S, HotBlack Robotics SRL and Motion Controls Robotics.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the cloud robotics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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