Internet of Robotic Things

Internet of Robotic Things

Global Internet of Robotic Things Market to Reach US$256.1 Billion by 2030

The global market for Internet of Robotic Things estimated at US$49.1 Billion in the year 2023, is expected to reach US$256.1 Billion by 2030, growing at a CAGR of 26.6% over the analysis period 2023-2030. Professional Service, one of the segments analyzed in the report, is expected to record a 27.2% CAGR and reach US$167.9 Billion by the end of the analysis period. Growth in the Managed Service segment is estimated at 25.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$14.2 Billion While China is Forecast to Grow at 25.6% CAGR

The Internet of Robotic Things market in the U.S. is estimated at US$14.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$38.3 Billion by the year 2030 trailing a CAGR of 25.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 23.6% and 22.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 18.4% CAGR.

Global Internet of Robotic Things Market - Key Trends & Drivers Summarized

What Is the Internet of Robotic Things and Why Is It Redefining Automation?

The Internet of Robotic Things (IoRT) refers to the integration of robotics with the Internet of Things (IoT), creating an interconnected network of intelligent devices capable of sensing, processing, and communicating data. These robotic devices are not only able to perform tasks autonomously but can also interact with other machines, systems, and environments in real-time, making automation more dynamic and adaptable. IoRT is redefining automation by enabling robots to make decisions based on real-time data and coordinate with other systems for more complex operations. This convergence of robotics and IoT is finding applications across various industries, including manufacturing, healthcare, logistics, and smart homes, where it is driving significant advancements in efficiency, precision, and flexibility.

How Are Technological Advancements Shaping the Internet of Robotic Things Market?

Technological advancements are playing a critical role in shaping the Internet of Robotic Things market, particularly through innovations in artificial intelligence (AI), machine learning, and sensor technology. The integration of AI and machine learning into robotic systems is enhancing their ability to analyze data, learn from experiences, and make decisions autonomously. This allows robots to adapt to changing environments and optimize their performance without human intervention. Advances in sensor technology are also expanding the capabilities of IoRT devices by improving their ability to perceive and interact with their surroundings. Sensors such as LIDAR, cameras, and RFID are enabling robots to navigate complex environments, identify objects, and even collaborate with other machines. Additionally, the development of 5G connectivity is providing the high-speed, low-latency communication required for real-time data exchange between robotic devices and other systems, further driving the adoption of IoRT across various sectors.

Why Is There an Increasing Demand for the Internet of Robotic Things in Various Industries?

The demand for the Internet of Robotic Things is increasing across various industries due to the growing need for automation, efficiency, and precision in operations. In manufacturing, IoRT is being leveraged to create smart factories where robotic systems work alongside humans and other machines to streamline production processes, reduce downtime, and improve product quality. The healthcare industry is also adopting IoRT for applications such as remote surgery, robotic-assisted rehabilitation, and automated patient care, where precision and real-time data are critical. The logistics sector is utilizing IoRT to optimize supply chain operations through automated warehousing, inventory management, and last-mile delivery solutions. Additionally, the rise of smart homes and cities is driving the integration of IoRT in consumer products, where robots perform tasks ranging from cleaning and security to elder care and personal assistance. As industries continue to embrace digital transformation, the demand for IoRT is expected to grow, driven by the need for more intelligent and interconnected robotic systems.

What Factors Are Driving the Growth in the Internet of Robotic Things Market?

The growth in the Internet of Robotic Things market is driven by several factors closely tied to technological advancements, industry trends, and the increasing complexity of modern operations. One of the primary drivers is the rising adoption of AI and machine learning in robotics, which is enabling more sophisticated and autonomous robotic systems capable of real-time decision-making. The expanding applications of IoRT in industries such as manufacturing, healthcare, and logistics are also fueling market growth, as these sectors seek to enhance efficiency, reduce costs, and improve outcomes through automation. The development of advanced sensor technologies and high-speed connectivity solutions, such as 5G, is further propelling the market by enabling more seamless and reliable interactions between robotic devices and other systems. Additionally, the growing emphasis on smart infrastructure and the rise of Industry 4.0 are creating new opportunities for IoRT, as businesses look to integrate robotics with IoT to create more responsive and adaptive environments. As these trends continue to shape the market, the Internet of Robotic Things is expected to experience sustained growth, driven by the need for more intelligent, connected, and autonomous systems across a wide range of applications.

Select Competitors (Total 42 Featured) -

• ABB Group
• Aethon, Inc.
• Amazon.com, Inc.
• Cisco Systems, Inc.
• ECA Group
• FANUC Corporation
• Gecko Systems Intl. Corporation
• Google LLC
• Honda Motor Co., Ltd.
• Intel Corporation
• iRobot Corporation
• KUKA AG
• Northrop Grumman Corporation
• Omron Adept Technologies, Inc.
• Robert Bosch GmbH
• Samsung Electronics Co., Ltd.
• Yaskawa Electric Corporation

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