COVID-19 update included
The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Key Findings
Cloud robotics is the use of remote computing resources through the internet and other connected technologies that permit greater memory, computational ability, collective learning and interconnectivity that allows real-time access to the physical robot and control over its operation. The global market for cloud robotics is valued at $ xx million in 2018 and is expected to reach $ xx million by the end of the forecast period 2019-2027. This particular market is estimated to grow at a CAGR of 24.03% from 2019 to 2027.

Market Insights
The cloud robotics market has undergone many changes and transformations due to perturbations in the closely-related market for cloud computing, gradually achieving major levels of adoption by the service providers to becoming the mainstream requirement for most of the current modern enterprises. The uptake of smart manufacturing and the popularity gained by interconnected robotics are mainly increasing the demand of the global market for cloud robotics.

Business model, component, end user, deployment model and geography have segmented this market, out of which, the component segment is the largest contributor to its market share. This can be accredited to the segment’s software sub-segment which has a wide application in image processing and uses in face recognition and threat detection and others demanding requirements of the current domestic crowd as well as the industrial sector.

Regional Insights
The global cloud robotics market has been geographically segmented into several key regions of North America, Asia-Pacific, Europe and collective countries from the Rest of the World. The North American region dominates the global cloud robotics market by revenue. The rise in demand of the implementation of this system in North America is mainly because of the wider adoption of 5G cloud robotics by the colossal enterprises that is massively transforming the industrial sectors.

Competitive Insights
Some of the major corporation and enterprises that have heavily promoted and invested in the global market for cloud robotics are Microsoft Corporation, Omron Adept Technologies, Inc., Aethon, Amazon Robotics LLC, C2RO Cloud Robotics, Cisco Systems, Inc., Cloudminds, Fetch Robotics, Inc., Huawei Technologies Co. Ltd., IBM Corporation, Intel Corporation, Kuka AG, Ortelio Ltd., Rapyuta Robotics Co. Ltd. and Softbank Robotics Group Corporations.