LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global cloud robotics market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global cloud robotics market will grow at a CAGR of over 20% during the forecast period. The advantages offered by cloud robotics is a major factor driving the market’s growth.
The increasing applications of robots for repetitive and risky tasks are enabling end-users to seek avenues to ensure that limitations of robotic systems due to factors such as cost, computational capacity, storage, size, power supply, motion mode, and working environment are eliminated. The adoption of cloud computing is increasing to augment the capabilities of industrial and service robots.
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In this report, Technavio highlights the increasing potential of telepresence robots as one of the key emerging trends driving the global cloud robotics market:
Increasing potential of telepresence robots
Telemedicine forms a part of the medical practices in which diagnosis, evaluation, and treatment of patients are performed remotely. With the help of telepresence solutions, physicians located offsite instruct medical technicians to examine and treat patients in real-time. Physicians can reduce the barriers of distance and obtain the desired view of patients with the help of advanced telepresence solutions such as telepresence robots. Therefore, accurate diagnosis will remain uncompromised enabling physicians to instruct technicians about treatments and surgical procedures precisely.
“In countries such as the US, more than 200 telemedicine networks utilizing telepresence solutions including telepresence robots are currently operational and are connecting over 2,500 institutions nationwide. In France, telepresence solutions are being adopted that connect remote emergency rooms to major hospitals in Paris. As healthcare facilities are witnessing improvements, the number of players in the market are expected to increase to capitalize on advantages of these robots for the medical and healthcare sectors,” says a senior analyst at Technavio for research on robotics.
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Global cloud robotics market segmentation
This market research report segments the global cloud robotics market into the following applications (industrial and service), products (software, hardware, and services), and key regions (the Americas, APAC, and EMEA).
The industrial segment held the largest market share in 2017, accounting for nearly 69% of the market. The market share for this application is expected to decrease nearly 2% by 2022. The fastest growing application is service, which will account for nearly 33% of the total market share by 2022.
APAC was the leading region for the global cloud robotics market in 2017, accounting for a market share of nearly 43%. Countries such as China, Japan, South Korea, and India are the major markets in this region. The market is also expected to witness an increase in adoption by countries such as Taiwan, Australia, and other Southeast Asian countries during the forecast period. By 2022, APAC is expected to continue dominating the market and witness growth as well.
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