Robot can be
integrated as an entity in the Internet of Things (IoT)
infrastructure thereby enabling connections between different
entities using diverse communication protocols. Internet
of Robotic Things (IoRT) is ‘robot(s) connected as a thing’
in IoT technology which establishes connections with other things
over the Internet. IoRT are smart robots that are integrated through
Internet for performing professional processes or personal activities
such as manufacturing process and monitoring of elderly activities.
They are intelligent devices that assist in monitoring events and
controlling objects in the physical world by gathering sensor data
from a variety of sources to determine course of action. Growing
e-commerce industry and increasing application areas owing to
integration of robots with various technologies is boosting the
Internet of robotic things usage.
The major driving
factors for the growth of global Internet of robotics market are high
speed data connectivity and seamless web connectivity. Increase in
the use of smart devices, e-commerce, automation in manufacturing
process, digitalization, elderly population, rise in availability of
broadband infrastructure and urbanization are also contributing to
the growth of global Internet of robotics things market. However,
lack of awareness of Internet of robotics technology, high cost of
research and development activities and complexity in new product
development are the factors hindering the growth of global Internet
of robotics market. Growing requirements for access and control over
Internet of robotics technology devices across industries and
adoption of industrial robots by small and medium enterprises is
expected to create opportunity for vendors operating in Internet of
robotic things market. This would allow for further increase in users
experience, easy integration and support services such as assistance
and management of network and services in industrial processes.
The global Internet
of robotic things market is segmented on the basis of component,
platform, software, services, application and geography. On the basis
of component, the global Internet of robotic things market is
segmented as sensors, power systems, actuators, control systems and
others including electric and electronic components. The platform
segment of global Internet of robotic things market includes device
management platform, application platform and network platform. Based
on software, the global Internet of robotic things market is
segmented into analytics software, data software, security software,
and monitoring software. In terms of the services provided, the
global Internet of robotic things market is fragmented into
professional services and managed services. Moreover, the application
segment of global Internet of robotic things market is segmented into
travel and logistics, defense and , healthcare and life science,
manufacturing and automotive, gaming, media and entertainment, global
digital marketing, government sector, retail and consumer goods,
software and technology and bussiness, financial services and
insurance (BFSI).
On the basis of
geography, the global Internet of robotic things market is segmented
as North America, Europe, South America, Asia Pacific and Middle East
and Africa. The Internet of robotic things market in North America
is expected to lead the global IoRT market due to stable economy,
growing need for elderly assistance and increasing adoption of smart
robotics application for interconnection of applications. Moreover,
Asia Pacific and Europe are expected to show moderate growth in
Internet of robotic things market during the forecast period due to
increasing demand for connected robotics in e-commerce sector.
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The key players of
global Internet of robotic things market are ABB Ltd., FANUC
Corporation, KUKA AG, Cisco Systems Inc., Samsung Electric Co. Ltd.,
Aethon Inc., iRobot Corporation, Intel Corporation, Robert Bosch
GmbH, Amazon.com, Inc., Northrop Grumman Corporation, Honda Motors
Co. Ltd., Geckosystems Intl. Corporation, Yaskawa Electric
Corporation, Google Inc. and Bluefin Robotics Corporation.
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