The global cloud robotics market will be worth up to $27.5 billion by 2026, growing at a compound annual growth rate of more than one-third (33.1 percent) from 2021.
That’s according to a new 278-page report from Seattle-based market intelligence company, Mind Commerce.
Cloud robotics describes a mix of industrial and service applications, including the teleoperation of physical robots via the cloud, the use of connected, as-a-service infrastructure and processing for industrial robots, and emerging applications such as Robotics as a Service (RaaS) via cloud-accessible cobots (collaborative robots) and other devices.
RaaS is the largest single business model under the umbrella of cloud robotics, with 43.3 percent of the total market, says the report.
Increasingly, the field will become populated by aerial and seaborne robots as well static or land-based machines, as unmanned aerial vehicles, systems, or platforms (popularly known as drones) become more widely used in industrial and service applications, such as remote infrastructure maintenance.
Subsea engineering by untethered, remotely controlled or autonomous robots is emerging at the same time, as are a range of supporting technologies, such as digital twins.
At present, the use of aerial drones is limited by strict regulations governing beyond visual line of sight (BVLOS) operation and by the challenges of managing airspace in a world of remote-piloted or autonomous flight.
However, the US is one of several countries that are beginning to relax regulations to allow BVLOS flights in controlled test areas, as the deliveries sector and other industries press authorities to support new business models.
Cloud robotics will also grow on the back of the spread of 5G technologies and the fast-expanding edge environment.
The global AI market for cloud robotics will reach $17.2 billion by 2026, growing at a CAGR of 59.4 percent, adds the report, while the 5G in cloud robotics sector will hit a value of $10.6 billion by 2028, growing at a CAGR of over 79 percent.