About Internet of Robotic Things
The Internet-of-Robotic-Things is an emerging autonomous robotic system with the Internet of Things (IoT). Growing the e-commerce industry and increasing application areas owing to the integration of robots with various technologies is boosting the Internet of robotic things usage. Moreover, with improved IT infrastructure across the globe, the market will show robust demand over the forecasted period. There are various applications of the internet of robotic things such as assisted living, precision farming, packaging and dispatching goods in manufacturing and logistic applications, cleaning and maintenance of civil infrastructure, waste collection and recycling, to mapping, inspection and etc.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Internet of Robotic Things market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abb Ltd. (Switzerland), Kuka Ag (Germany), Irobot Corporation (United States), Fanuc Corporation (Japan), Amazon.Com, Inc. (United States), Google, Inc (United States), Cisco Systems, Inc. (United States), Intel Corporation (United States), Honda Motors Co., Ltd (Japan), Yaskawa Electric Corporation (Japan), Northrop Grumman Corporation (United States), Aethon Inc. (United States), Blufin Robotics Corporation (United States) and Omron Adept Technologies, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Geckosytems International Corporation (United States), Eca Group (France), Dexterity, Inc (United States), Robert Bosch Gmbh (Germany) and Samsung Electronics Co., Ltd (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Internet of Robotic Things market by , Application (Collaborative Industrial Robots (Automotive, Electronics, Food and Beverages, Other) and Service Sector (Personal Services, Professional Services)) and Region.
On the basis of geography, the market of Internet of Robotic Things has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Device Management Platform will boost the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Professional Services (Deployment and Integration, Support and Maintenance, Consulting Services) will boost the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software, the sub-segment i.e. Real-Time Streaming Analytics will boost the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Sensors will boost the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption by the E-commerce Industry
Market Growth Drivers:
Increasing Application Areas owing to the Integration of Robots with Various Technologies and Growing Automation and Robotics Infrastructure is Enhancing the Global Demand
Challenges:
Data Security and Interoperability Issues and Lack of Awareness of Internet of Robotics Technology
Restraints:
High Cost of Research and Development
Opportunities:
Adoption of Industrial Robots by Small and Medium Enterprises, Rising Broadband Infrastructure Development and Urbanization in Developing Countries and Purpose Application where the Robots can Generate Maximum Return on Investment
Market Leaders and their expansionary development strategies
In January 2022 - The high-speed, 4-axis, compact IRB 460 robot with artificial intelligence was unveiled by ABB for industrial use. It is made specifically for applications involving palletizing, depalletizing, and material handling and has smart wireless sensors.
In July 2020, Dexterity announced the availability of its full-stack, hardware-agnostic robotic systems. Dexterity robots allow customers to unlock the maximum value of their workforce. Its robots automate repetitive pick-pack tasks and can handle complex manipulations in unpredictable environments, allowing warehouse employees to focus on higher-level cognitive work. The robots utilize artificial intelligence, advanced control theory, computer vision, and the sense of touch to adapt quickly, making them safe to work alongside humans.
Isaac Asimov has developed the Robot Manufacturing Regulations and rules so that they are unable to effect, hamper, or injure humans in the surrounding area. Under this point of Governance, he has developed 3 laws of robotics including Robots may not injure a human being, must obey orders (unless they go against the First Law) and must protect themselves (unless to do so conflicts with the First or Second Law). Moreover, many regulatory bodies and Government Agencies have formed a number of laws for minimizing vulnerabilities.
Key Target Audience
Internet of things (IoT) Associations, Original Equipment Manufacturers (OEMs), ODM and OEM technology solution providers, Semiconductor foundries, Research Institutes, Market research and consulting firms, Technology investors and Governments and financial institutions
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.