Market Challenges And Opportunities

Restraints & Challenges:

Concerns regarding security and data privacy are expected to hamper the global cloud robotics market growth during the forecast period
High capital investment and R&D expenses are expected to hinder growth of the global cloud robotics market over the forecast period

Global Cloud Robotics Market - Drivers:

Increasing demand for automation in industries is expected to drive growth of the global cloud robotics market during the forecast period

Many industrial processes such as painting, machining, material handling, welding, and assembling are now being replaced with automated robots. These robots use electrical, mechanical, and software systems to perform the designated task with higher accuracy, speed, and precision, which exceeds human performance. Moreover, automation in industrial robots has been very successful, owing to its high precision and speed in structured factory environments. However, these robots need to be integrated with network technologies, in order to deploy them in unstructured environments. Thus, robots are now being interconnected through the cloud, enabling them to remotely access datasets to support different types of functions. Hence, automation in industries is expected to boost the global cloud robotics market growth during the forecast period.

Technological advancements in artificial intelligence are expected to propel the global cloud robotics market growth over the forecast period

Constant research and development in artificial intelligence and related technologies are expected to increase the adoption of cloud robotics. According to the report ‘Preparing for the future of Artificial intelligence’ published by the National Science and Technology Council Committee on Technology in October 2016, the U.S. government invested US$ 1.1 billion in R&D in AI-related technologies in 2015. Artificial intelligence enables robot systems with powerful capabilities and also reduces operational costs. Therefore, it has become possible to build cost-effective, lightweight, and smarter robots with an intelligent operating system (OS), which consists of a data center, communication support, information processing, knowledge base, etc. Furthermore, robots need a massive amount of resources and computational power to think similarly to that of a human. Technological advancements in artificial intelligence can help robots to draw resources from multiple data centers, in effect spreading out the demand. For instance, RoboEarth is paving the way for advancement in machine behavior and cognition by allowing robotic systems to benefit from the experience of other robots. Thus, these factors are expected to propel the market growth in the near future. Global Cloud Robotics

Market - Opportunity

Advent of 5G technology can provide major growth opportunities over the forecast period

Deployment of cloud-based robotic systems requires reliable and constant connectivity, regardless of the environment it operates within. Wireless technology offers these solutions and eliminates the need for complex wireline connections to provide communication systems. Moreover, 5G is expected to offer very low latency and is an obvious choice for applications that require high capacity. 5G supports a wider range of requirements such as sub-millisecond latency. For instance, Ericsson has partnered with biomedical companies such as EI.En and Imaginalis for robotic-assisted surgeries and remote diagnosis.

Technological advancements in robotic applications are expected to present lucrative business opportunities

The development in the robotics industry has enabled new robots to perform a plethora of applications. Robots can now perceive, manipulate, place and pick a wide variety of objects in less structured environments. Cloud robotics is considered as a step-further in this, enabling major advancements in automotive and other industrial applications. For instance, Google’s driverless cars are cloud robots, these cars use cloud services to navigate using Google’s enormous database of satellite and maps. These cars combine this data with current and past traffic patterns to avoid collisions.