Internet of Robotic Things (IoRT) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2028

  • Report ID : 100022
  • Category : Technology and Communication
  • Pages : -----
  • Reporting status : Published Jan, 19
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The Internet of Things (IoT) concept is evolving briskly and influencing new developments and technologies in various application domains, such as the Autonomous Internet of Things (A-IoT), Internet of Mobile Things (IoMT), Autonomous System of Things (ASoT), Industrial Internet of Things (IIoT), Internet of Autonomous Things (IoAT), Internet of Things Clouds (IoT-C) and the Internet of Robotic Things (IoRT) etc. that are progressing/advancing by using IoT technology. The Internet of Things (IoT) influence signifies new development and deployment challenges in different areas such as context based cognitive network integration, seamless platform integration, new mobile sensor/actuator network paradigms, things identification, Cloud Robotics and dynamic things discoverability and many others.

The IoRT represents new convergence challenges and their need to be addressed, in one side the programmability and the communication of multiple heterogeneous mobile/autonomous/robotic things for cooperating, their coordination, configuration, exchange of information, security, safety and protection. Developments in IoT heterogeneous parallel processing/ communication and dynamic systems based on parallelism and concurrency require new ideas for integrating the intelligent “devices”, collaborative robots (COBOTS), into IoT applications. Dynamic maintainability, self-healing, self-repair of resources, changing resource state, (re-) configuration and context based IoT systems for service implementation and integration with IoT network service composition are of paramount importance when new “cognitive devices” are becoming active participants in IoT applications.

The major factors for the growth of Internet of robotics (IoRT) market are ultrahigh speed data Network connectivity and seamless web connectivity. Increase in the consumption pattern of automation and mechanization in manufacturing process, smart devices, e-commerce, digitalization, ageing population, increase in accessibility of broadband infrastructure and civil urbanization are also backing to the growth of global Internet of robotics things (IoRT) market. Nevertheless, unawareness of Internet of robotics technology (IoRT), expensive research and development activities and various complexity in new product development(NPD) are the factors that are restricting the growth of global Internet of robotics(IoRT) market. Emergent requirements for adoption of industrial robots by small and medium enterprises and access and control over Internet of robotics technology devices across industries is expected to create lucrative opportunity for dealers operating in Internet of robotic things(IoRT) market. This would allow for further increase in easy integration, user’s experience, and support services such as technological advancement, assistance and management of network and services in industrial processes.

The segmentations of the Global Internet of Robotic Things (IoRT) Market is based on the basic classification of the Internet of robotic things(IoRT) Genre as Component, software, platform, services, application and geography.

Primarily on basis of component, the global Internet of robotic things(IoRT) market is fragmented as sensors, actuators, power systems, control systems and others including electric and electronic components. Where in the segment of global Internet of robotic things (IoRT) market by platform includes network platform, application platform, and device management platform. From software genre, the global Internet of robotic things (IoRT) market is segmented into data software, analytics software, monitoring software, and security software. In terms of the provided services, the global Internet of robotic things (IoRT) market is Classified into professional services and managed services. Furthermore, the application segment of global Internet of robotic things (IoRT) market is bifurcated into logistics and travel, defense and, healthcare and life science, manufacturing and automotive, gaming, media and entertainment, retail and consumer goods, global digital marketing, government sector, software and technology and business, financial services and insurance (BFSI).

The North America region is anticipated to show prominent growth in the years to come, owing to the growing need for elderly assistance and increasing adoption of smart robotics application for interconnection of applications. Europe and Asia Pacific are estimated to show modest growth in Internet of robotic things (IoRT) market due to increasing demand for connected robotics in e-commerce sector.

The major players in the global Internet of robotic things (IoRT) market include Samsung Electronics Co.Ltd (South Korea), ABB Ltd. (Switzerland), Honda Motors Co.Ltd (Japan), Kuka AG (Germany) , irobot Corporation (U.S.), Fanuc Corporation (Japan), Amazon.Com Inc. (U.S.), Google Inc (U.S.), Cisco Systems Inc. (U.S.), Intel Corporation (U.S.), Yaskawa Electric Corporation (Japan), Aethon Inc.(U.S.),Blufin Robotics Corporation (U.S.), Omron Adept Technologies Inc. (U.S.),Geckosytems International Corporation (U.S.), ECA Group (France), Robert Bosch GmbH (Germany), Northrop Grumman Corporation (U.S.),and money more.

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