Global Internet of Robotic Things Market is expected to grow at a CAGR of 35% to reach USD $ XX billion in 2026.
The rising investment on additional and advanced production capacities in the various industries or manufacturing units of automobiles in developing countries such as India, China, Brazil, etc. primarily drive the market for Internet of Robotic Things market. As the automobile production increases, the number of robot’s installation in automobile industry also increases. According to international federation of robotics (IFR), the automobile industry held around 42% share in total robot supply in all industries which was around 102,600 units of robots in automobile industries in 2017. Whereas, the increasing demand for automation of automobile production facilities is expected to boost the demand for Internet of Robotic Things market in the forecast period. The electronics industry is the second largest industry which are using internet of robotic things. The electronics industry held around 29% of total robot’s supply as per IFR. Hence, the increasing adoption of industrial robots across the application areas such as manufacturing units due to incorporation of robots with numerous technologies such as monitoring of events, etc. is driving the growth in the global internet of Global Internet of Robotic Things Market . The key driving factors for the growth of internet of robotic things includes rising adoption of IoRT by e-commerce industry and increasing application areas owing to integration of robots with various technologies. Other factors including increasing demand for robots in the education sector, and healthcare sector also drive the market through the forecast period. Next generation sensors are gaining traction in the global market. They are capable of handling superior efficiency in the IoT which assist the technology to work successfully and thus, they are gaining higher demand in the Global Internet of Robotic Things Market . Such increasing demand of next generation sensors in the global market is driving the growth for IoRT through the forecast period. Device management platform had the highest market share in 2017. The market demand is coupled with growing surge for access and control. Maximize Market Research has undertaken extensive research about the current Global Internet of Robotic Things Market outlook with respect to its applications as well as the assuring future of the technology in this sector. Notably, the report delivers a deep insight on the drivers, opportunities and restraints that exist in the Global Internet of Robotic Things Market. Report also forecasts the future market opportunities that shall exist in this sector. Based on the analysis, report segments the market broadly -by Software -by Service –by Component -by Platforms -by Application -by Region. North America accounts highest market share in 2017. The Global Internet of Robotic Things Market is driven by the factors including rising concern for high quality of products, enhanced productivity and reduction in labor cost. According to robotic industry association, in 2016, North American business has ordered around 35,000 robots. The order of robots in North America experience 10% increase from 2015 which was around 31,500 robots in 2015. The rising concern for automation and requirement for high quality output is rising the demand for industrial robots in North American region. Hence, the increasing demand for industrial robots is contributing towards the growth of North America internet of robotic things market. Asia Pacific is expected to grow at higher rate in the forecast period. The growth rate is driven by the rising adoption of industrial robots across industries such as automobile. According to international federation of robotics, In Asia Pacific only, around 175,760 robots were sold in 2017. The robot’s sales in Asia Pacific region has experienced the rise of 18% from 2016. Hence, the rise in adoption of robots in industries is contributing towards growth of Asia Pacific internet of Global Internet of Robotic Things Market . The objective of the report is to present comprehensive Global Internet of Robotic Things Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Internet of Robotic Things Market North America for Asia Pacific dynamics, structure by analyzing the market segments, and project the Global Internet of Robotic Things Market North America for Asia Pacific size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Internet of Robotic Things Market North America for Asia Pacific make the report investor’s guide.