Published on : Apr 18, 2017
Albany, New York, April 18, 2017: The report provides a comprehensive overview of the IoRT ecosystem and emerging opportunities. The research offers an in-depth insight into the key market dynamics, recent developmental efforts, technological advances, lucrative avenues, and competitive dynamics. The research study highlights major automation trends in robotics and analyzes the factors affecting its adoption in various facets of the manufacturing sector. The research analysis takes a closer look at how the growing popularity of Industry 4.0 or the Industrial Internet is opening up new worlds of possibilities across various end-use industries. Major regions profiled in the report are Europe, North America, and Southeast Asia, with a focus on Japan.
The study evaluates the impact of major collaborative efforts among various technology companies and providers of industrial automation products, leading to innovations in the Internet of Robotic Things (IoRT) market. The study zeroes in on advancements in sensors and deep learning technologies expected to lead to a spurt in industrial automation products for newer applications. The increasing incorporation of robotics into the IoT platform has opened up new vistas of development in the market.
The Internet of Robotic Things (IoRT) market is mainly driven by its expanding applications in a range of industries, particularly in automotive manufacturing. The development of advanced analytics and machine to machine (M2M) technologies has bolstered the capabilities of Industrial Internet of Things (IIoT), thereby fuelling the demand for IoRT technologies. The growing adoption of Industry 4.0 in manufacturing industries is expected to power the growth of the IoRT market over the forecast period.
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The advent of Cloud Computing 2.0 is expected to unlock exciting opportunities for several manufacturers. The increasing demand for IoRT in the utilities sector and expanding applications of robotics in ecommerce industries are encouraging developments in the market worldwide. Furthermore, players in the IoRT market are exploring promising opportunities in the healthcare sector, as robotic technology is proving to be helpful for geriatric care.
Constant efforts by end users to leverage the benefits of cloud-based applications and services are unlocking lucrative avenues in the market. Spiraling investments to exploit several IoT initiatives are also expected to propel the market in the coming years. However, concerns related to data security and operational standards is expected to hinder the demand for Internet of Robotic Things for some time. In addition, emerging cases of safety of human workers posed by the presence of automotive robots in the manufacturing facility is a key challenge impeding the growth of the market in developed and developing regions. Nevertheless, the significant strides IoT is making in industrial robotics and substantial advancements in automation technologies are key factors anticipated to put a natural end to these concerns.
Prominent players operating in this market include ABB, KUKA, iRobot Corporation, Amazon.com, Google, and FANUC America Corporation.
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