(MENAFN- EIN Presswire)
Internet of Robotic Things Market
Growing robotics adoption, expanding e-commerce, high-speed data access, and quick ROI drive the global Internet of Robotic Things market.
WILMINGTON, DE, UNITED STATES, October 28, 2024 /EINPresswire / -- According to the report, the global internet of robotic things
market size is estimated to generate $208 billion in 2021 and $2461.9 billion by 2031, witnessing a CAGR of 28.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key
investment pockets, value chain, regional landscape, and competitive scenario.
The study of the interaction between the domains of robotics and the internet of things is known as the "internet of robotic things”. IoRT is a fusion of the disciplines rather than IoT helped by Robotics or Robotics driven by IoT. It developed gradually as a result of realizations that the two fields had many purposes that overlapped and might benefit substantially from attention paid to their combination.
Download Sample Report (Get Full Insights in PDF - 337 Pages) at:
The robot is intelligent in that it has built-in monitoring (and sensing) capabilities and can also access sensor data from various sources that are combined for the robot's "acting" purpose. The device's ability to use both local and distributed "intelligence" is a second example of its "intelligence." In other words, it has access to (analyzed) data and may analyses the data from the events it observes, which by definition implies the presence of edge computing or fog computing in many circumstances.
Increasing adoption of robotics across a range of technologies, rise in proliferation of e-commerce platform, high-speed data access, particularly in developing nations, and less time needed to get a healthy return on investment fuel the growth of the global internet of robotic things market. However, lack of technological know-how in the undeveloped and developing economies and long product development cycles hinder the global market growth. On the other hand, increasing deployment of robotics in education and health industry will present new growth opportunities for the global market in the coming years.
For Report Customization:
Covid-19 Scenario
1. The outbreak of the Covid-19 pandemic positively impacted the global internet of robotic things market. Governments and enterprises were compelled to switch their priorities and policies.
2. Many enterprises became financially unstable and were forced to reduce their number of employees.
3. IoRT helped such enterprises by cutting down the cost and reducing the workforce needed for production and maintenance. Thus, the loRT market is expected to grow further in future.
Based on platform, the device management platform segment held the largest share of more than two-fifths of the global internet of robotic things market in 2021, and is expected to maintain a prominent growth during the forecast period. This is due to the increase in adoption of platform as it simplifies the data management and analytics by integrating all functions on a single platform. However, the network management platform segment is expected to exhibit the highest CAGR of 30.2% in 2031, owing to the increase in need for utilization tracking, problem solving, security patches, and system updates for an infrastructure that is both optimized and safe.
Based on type, the sensors segment contributed to the largest share of nearly one-third of the global internet of robotic things market in 2021, and is expected to rule the roost during the forecast period. This is owing to the ability of sensors to detect outside information and replace it with a signal that both humans and machines can recognize. However, the power source segment is projected to witness the fastest CAGR of 30.8% from 2022 to 2031, owing to its enhanced load control and higher process efficiency resulting in lower costs.
Buy Now & Get Up to 50% off on This Report:
Based on component, the software segment held the largest share of more than three-fourths of the global internet of robotic things market in 2021, and is expected to maintain a prominent growth during the forecast period. This is due to the advancements of new technologies in vision software and robot guidance that attract companies to innovate and launch new products to meet customer requirements. However, the services segment is expected to exhibit the highest CAGR of 30.7% in 2031, owing to the widespread adoption of IoRT. IoRT robot's performance is enhanced by sophisticated software design and architecture.
Based on region, the market in North America was the largest in 2021, capturing more than one-third of the global internet of robotic things market, owing to the rise in awareness about the internet of things and artificial intelligence in the region. However, the market in Asia-Pacific is likely to attain the largest revenue and grow at the fastest CAGR of 32.2% during the forecast period. This is due to the rise of the manufacturing sector which is anticipated to increase the demand for industrial safety in this region.
Leading Market Players
FANUC CORPORATION
Google LLC
Amazon Inc.
Intel Corporation
Aethon Inc.
Bluefin Robotics Corporation
eca group
iRobot Corporation
ABB Ltd.
Cisco Systems Inc.
Inquiry Before Buying:
Other Trending Report:
1. North America and Europe Service Robotics Systems Market Size Overview
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
...
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN28102024003118003196ID1108823361
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.