COVID-19 impact on the Internet of Robotic Things Market

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COVID-19 impact on the Internet of Robotic Things
Market Internet of Robotic Things Market (IoRT)
by Component (Sensor, Power, Control), Service
(Professional, Managed), Platform (Device,
Application, Network), Software (Analytics, Data,
Security, Monitoring, Bandwidth), Application -
Global Forecast to 2022 https//www.marketsandmar
kets.com/Market-Reports/internet-robotic-thing-mar
ket-85094927.html
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The Internet of Robotic Things Market was valued
at USD 3.89 billion in 2015 and is expected to
reach USD 21.44 billion by 2022, at a CAGR of
29.7 between 2016 and 2022. The ecosystem of
Internet of Robotic Things market comprises a
well-established network of manufacturers,
distributors, hardware vendors, and service
providers. The key companies in the Internet of
Robotic Things include ABB Ltd. (Switzerland),
KUKA AG (Germany), iRobot Corp. (U.S.),
Amazon.com, Inc. (U.S.), Google, Inc. (U.S.),
Fanuc, Corp. (Japan). The prominent companies in
the markets include the well-established,
financially stable and technically expertise
players that have been operating in the industry
for several years and have diversified product
portfolios, proprietary technologies, and strong
distribution networks through collaborations and
acquisitions. Browse 69 market data Tables and
61 Figures spread through 187 Pages and in-depth
TOC on "Internet of Robotic Things Market -
Global Forecast to 2022"
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The Internet of Robotic Things (IoRT) market is
expected to be valued at USD 21.44 billion by
2022, growing at a CAGR of 29.7 between 2016 and
2022. The growth of this market is majorly driven
by the adoption of IoRT by e-commerce industry,
increasing application areas owing to integration
of robots with various technologies, short
payback period and ROI. The IoRT services market
is expected to grow at the highest rate during
the forecast period. Factors such as increasing
adoption of connected devices across
organizations and evolution of high-speed
networking technologies have encouraged
organizations in every industry sector to adopt
IoRT solutions. However, for the integration of
new solutions into the companys existing
infrastructure, companies would need managed and
professional services to adopt IoRT
solutions. Ask PDF Brochure https//www.marketsa
ndmarkets.com/pdfdownloadNew.asp?id85094927 The
market for device management platform was the
largest in IoRT platform market and is expected
to grow at the highest rate during the forecast
period. Organizations while using IoRT devices
require platforms to manage information and
applications. The major reason for growth for
device management platform is because of growing
requirements for access and control over IoRT
devices across industries. The market for
security solutions is expected grow at the
highest CAGR during the forecast period in the
IoRT software market. The IoRT has brought about
several security challenges such as point-of-sale
(PoS) threat, threats at sensors, gateways, and
end devices.
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The IoRT market for smart robot component held
the largest market size in 2015 as developing the
IoRT products requires a lot of integration and
assembly of various components such as sensors,
actuators, power systems, control systems, and
many other electrical and electronic devices.
These are the key contributors for the connected
robotic products. More customized and
application-specific product requires more and
more classified components. The market for
service robots application was the largest in
2015. The wide range of applications in service
robotics is still expanding with the introduction
of Internet of Things and its different
capabilities in robotics. The medical,
healthcare, domestic, and defense and security
are few industries that have been adopting IoRT
technology in its operations. Request Free
Sample Pages https//www.marketsandmarkets.com/re
questsampleNew.asp?id85094927 North America
accounted for the largest market share of IoRT
market followed by Europe in 2015. The rate of
adoption of IoRT in North America is expected to
be more as compared to other regions it is
expected to grow at the highest rate during the
forecast period. ABB Ltd. (Switzerland), KUKA AG
(Germany), iRobot Corp. (U.S.), Amazon.com, Inc.
(U.S.), Google, Inc. (U.S.), Fanuc, Corp.
(Japan), Cisco Systems, Inc. (U.S.), Intel
Corporation (U.S.), Honda Motors Co., Ltd.
(Japan), Yaskawa Electric Corporation (Japan),
Northrop Grumman Corporation (U.S.), Aethon Inc.
(U.S.), Bluefin Robotics Corporation (U.S.),
Adept Technologies, Inc. (U.S.), Geckosystems
International Corporation (U.S.), ECA Group
(France), Robert Bosch.
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Automotive In the automotive sector, there has
been a paradigm shift from the cost-intensive
robots to versatile and reliable smart robots.
Besides, within the manufacturing process,
high-tech robots has proven to be more profitable
with respect to productivity, by achieving new
levels of speed, accuracy, precision,
flexibility, and agility. Smart robots are used
in the automotive sector in the production line
to transfer materials from one location to
another. To accomplish such tasks autonomously
guided vehicles (AGVs) are used, which are often
equipped with inductive sensors to track metal
strips embedded on the factory floor. Electronics
The electronics industry is dynamic, with new
products being launched every year, the
availability of a variety of applications, and
potential new areas of applications. This demands
precision, utmost repeatability, quality, and
speed in almost every process supply chain,
thereby creating decisive competitive advantages
in terms of high productivity and low production
costs. Robots are mainly used in the assembly
lines of computer hard drives, grinding of
optical lenses or assembly of fuel cells, and
other similar complicated tasks. Field The use of
robots in the agriculture sector is fairly
recent. Numerous milking robotic products have
emerged in the recent years with resounding
success. Milking robots, however, require huge
initial investments, and since the cows are
milked more frequently, the fat concentration in
milk is also lesser. The future developments in
this field may involve the detection of abnormal
milk, detection of heat, and analysis of milk
components.
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