Artificial Intelligence
Cloud Robotics Market Size to Reach USD 15.3 Billion by 2030, at a CAGR of 23.2% – Report by Market Research Future (MRFR)
New York, US, June 08, 2022 (GLOBE NEWSWIRE) — Cloud Robotics Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Cloud Robotics Market Analysis by Type (Peer Based, Proxy Based, Clone Based), by Connectivity (Wi-Fi, Bluetooth, 3G, 4G, 5G, RF, Infrared), by Application (Defense, Manufacturing, Retail, Agriculture, Healthcare) – Forecast to 2030” valuation is poised to reach USD 15.3 Billion by 2030, registering an 23.2% CAGR throughout the forecast period (2021–2030).
Cloud Robotics Market Report Scope:
Connected robotics plays a causal role in delivering superior performance in the communication infrastructure of data centers by improving the performances of various automated systems and controllers deployed. Cloud-based solutions deliver full visibility into production operations enabling scalable manufacturing. Networked robotics extends the computation and information sharing capabilities of a cloud robotic architecture.
| Report Metric | Details |
| Market Size | USD 15.3 Billion |
| CAGR | 23.2% |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Ortelio Ltd. (UK), Rockwell Automation, Inc. (US), Kuka AG (Germany), ABB Group (Switzerland), Fanuc Corporation (Japan), Motion Controls Robotics (US), Calvary Robotics (US), and Yaskawa Electric Corporation (Japan), Rapyuta Robotics Co. Ltd. (Japan) |
| Key Market Opportunities | The cloud robotics market trends are blooming in the field of artificial intelligence |
| Key Market Drivers | Growing Implementations of Cloud-based Robotic Assembly Lines Boost Market Revenues |
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The cloud robotics architecture supports task offloading and information sharing in robotic applications, utilizing dynamically allocated resources from a shared resource pool in the cloud. It leverages a virtual ad-hoc cloud formed by combining machine-to-machine (M2M) communications and an infrastructure cloud-enabled by machine-to-cloud (M2C) communications among robots.
Rising communication protocols and computing models to handle different applications, such as computation, communications, and security, illustrate the cloud robotics’ potential to benefit several applications. Automotive companies and electric vehicle (EV) platform developers are increasingly adopting robotic assembly capabilities to progress towards commercial production.
Cloud-based robotic manufacturing systems are the digital backbone of manufacturing assembly lines, allowing the capability to manage customer-specific manufacturing operations. Resultantly, cloud-based robotic assembly lines are progressively implemented in highly-digitalized manufacturing plants. Implementing line-side controls helps create further efficiencies and allows savings through the adoption of the Manufacturing Execution System (MES).
That efficiency and optimization are critical in manufacturing, and labor shortages can hamper business growth. Some cloud-based robotic solutions have the ability to not just optimize human workforces but also optimize them collectively in a highly productive and efficient way. Efficient operations can also allow free time for workers to learn new skills needed to uplift the production.
Cloud Robotics Market Segments
The cloud robotics market is segmented into types, connectivity, applications, and regions. Of these, the type segment comprises clone-based, proxy-based, and peer-based cloud robotics. Similarly, the connectivity segment comprises 3G, 4G, Wi-Fi, Bluetooth, infrared connectivity, and radiofrequency. The application segment comprises healthcare, manufacturing & retail, transportation, defense & aerospace, agriculture, and others. The region segment comprises the Middle East & Africa, Asia Pacific, Americas, Europe, and rest-of-the-world.
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Cloud Robotics Market Regional Analysis
North America heads the global cloud robotics market due to the vast uptake of robotics in sectors such as defense, healthcare, and security. Besides, high developments and automation across production units in the region substantiate the market demand. The rising focus on enhancing communication capabilities required by the defense sector in this region boosts the cloud robotics market size.
Europe is another lucrative market for cloud robotics globally. Growing implementations of robotic solutions in a large number of industries in the region escalate the market value. Additionally, the well-established automotive sector and the steadily rising need for automated auto manufacturing processes in the region influence market revenues. Moreover, increasing R&D activities and investments in developing robotics impact the market dynamics.
The APAC cloud robotics market is rapidly emerging as a profitable market. The presence of many major technology providers and development centers boosts the region’s market share, allowing the early uptake of advanced robotics. Furthermore, the growing industrialization and manufacturing sectors drive the regional market growth.
Industry Trends
Spurring industrialization and automation across industrial sectors worldwide create significant market demand. With many organizations increasingly adopting cloud infrastructure for rapid operation processes, the demand for cloud robotics systems is rising in multi-folds. Moreover, improving internet connectivity led by vast deployments of cloud networks impact the market landscape positively.
Development in software structures and wireless technology progress defines the growing market landscape, increasing the dependence of industries on robotic cloud systems. Cloud robotics platforms provide on-demand automation solutions for material handling and inventory management in warehousing applications.
The rising use of cloud robotics in growing numbers of manufacturing, distribution, and fulfillment centers for various material handling tasks offers large opportunities to market players. Furthermore, improving official safety standards governing the design and manufacture of industrial mobile robots impacts the market growth positively.
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Cloud Robotics Market Competitive Analysis
Dominant Key Players on Cloud Robotics Market Covered are:
- Apple Inc. (US)
- Ortelio Ltd. (UK)
- Rockwell Automation Inc. (US)
- Kuka AG (Germany)
- ABB Group (Switzerland)
- Fanuc Corporation (Japan)
- Motion Controls Robotics (US)
- Calvary Robotics (US)
- Yaskawa Electric Corporation (Japan)
- Rapyuta Robotics Co. Ltd. (Japan)
The well-established cloud robotics market appears fragmented due to the presence of several key companies. Technology providers incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product launches to gain a competitive advantage. They focus on innovations and the development of new solutions, fueling the already intensified market competition.
For Instance, on April 26, 2022, Rapyuta Robotics, Co., Ltd., a pioneer of cloud robotics, announced raising USD 51 Million in Series C funding that would be used to accelerate the expansion of robotics solutions and artificial intelligence technologies.
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Rapyuta has developed and provided leading collaborative pick-assist robots or warehouse robots – Rapyuta PA-AMR. It is focused on making robotics required by logistics and providing support for the development, implementation, and operation of robotics solutions. Rapyuta plans to further its mission to make robots more attainable for logistics applications and empower lives with new cloud robotics solutions.
Rapyuta.io, the next-generation cloud robotics platform, improves the efficiency and safety of warehouse operations. Rapyuta’s solutions are developed using the world’s most advanced control and artificial intelligence technologies to enable multiple robots to work together harmoniously and create a seamless & remote-controlled robot ecosystem.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
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About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
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About Toshiba TV:
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