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Data Bridge Market Research analyses that the Internet of Robotic Things (IoRT) Market, valued at USD 24.97 billion in 2022, will reach USD 168.22 billion by 2030, growing at a CAGR of 26.93% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Robots can be included as objects in the Internet of Things (IoT) infrastructure, allowing for connections between various objects using a range of communication protocols. Robots that are “connected as a thing” and connect to other things via the Internet are referred to as the Internet of Robotic Things (IoRT) in IoT technology. They are intelligent devices that gather sensor data from various sources to decide on a course of action, helping to monitor events and control objects in the physical world. The use of the Internet of robotic things is being boosted by the expanding e-commerce sector and expanding application areas as a result of the integration of robots with different technologies.
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Key Opportunities
- Increasing use of modern technologies combined with robotics for industry 4.0 creates lucrative opportunities to grow
IoRT-integrated new technologies are increasingly being used in communications, services, and production. With the aid of improved automation systems, repetitive tasks are now completed quickly and precisely. Additionally, robotics is steadily making it possible to produce high-quality goods while maintaining the value of the existing worker. The main outcome of Industry 4.0 is the creation of intelligent factories that are very strong, safe, and economical to enhance robotics, massive data, cloud computing, strong safety, intelligent sensors, the Internet of Robotic Things, and other cutting-edge technological developments. As a result, businesses are utilizing IoRT widely to increase production.
Noteworthy Players Operating at Regional and Global Levels:
- Cisco Systems, Inc. (U.S.)
- Microsoft (U.S.)
- Apple Inc. (U.S.)
- SAP SE (Germany)
- Oracle (U.S.)
- Intel Corporation (U.S.)
- Siemens (Germany)
- ABB (Switzerland)
- Huawei Technologies Co., Ltd (China)
- Hitachi Vantara LLC (U.S.)
- Qualcomm Technologies, Inc. (U.S.)
- Google (U.S.)
- KUKA AG (Germany)
- FANUC CORPORATION (Japan)
- YASKAWA ELECTRIC CORPORATION. (Japan)
- Northrop Grumman. (U.S.)
- Omron Corporation (Japan)
- Robert Bosch GmbH (Germany)
- SAMSUNG (South Korea)
Recent Developments
- In 2022, Sparrow, a cutting-edge intelligent robot that handles millions of different products before they are packaged, was unveiled by Amazon.
- In 2022, The “Smart Power portfolio” of ABB India, one of the pioneers in India to make the switch to Industry 5.0, increased its capacity with cobots. The company reported a 40% increase in productivity, a 15% increase in energy productivity, and a 50% increase in test automation ratio.
- In 2022, ABB created the high-speed, 4-axis, small IRB 460 robot with artificial intelligence for commercial use. It has intelligent wireless sensors and is designed specifically for palletizing, depalletizing, and material handling applications.
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Internet of Robotic Things (IoRT) Market Segmentations:
Types
- Sensors
- Actuators
- Power Source
- Control Systems
- Others
- Electrical
- Electronic
- Mechanical
Software type
- Real Time Streaming Analytics
- Security Solution
- Data Management
- Remote Monitoring System
- Network Bandwidth Management
Platform
- Introduction
- Device Management Platform
- Application Management Platform
- Network Management Platform
Component
- Software
- Services
Service
- Professional Services
- Deployment and Integration
- Support and Maintenance
- Consulting Services
- Managed Services
Application
- Collaborative Industrial Robots
- Automotive
- Electronics
- Food and Beverages
- Others
- Service Sector
- Professional Services
- Defense and Security
- Demining
- Fire
- Bomb Fighting
- Field
- Agriculture and Forestry
- Milking Robots
- Medical
- Rehabilitation System
- Others
- Assistive Robots
- Underwater
- Logistics
- Factory Logistics
- Service Logistics
- Telepresence
- Business
- Healthcare
- Personal
- Inspection and Maintenance
- Factory Facilities
- Tank
- Tubes
- Pipes and Sewers
- Ships and Turbines
- Others
- Infrastructure and Construction
- Others
- Personal services
- Domestic
- Entertainment
- Smart Toys
- Robotic Pets
- Others
End User
- Aerospace and Defense
- Automotive and Manufacturing
- Healthcare
- Food and Beverages
- Logistics
- Media and Entertainment
- Others
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