Global Internet of Robotic Things Market to Grow at 30 Percent CAGR by 2023

The "Global Internet of Robotic Things Market Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023" report has been added to Research and Markets' offering.

The global Internet of robotic things market is expected to grow with a CAGR of around 30% during the forecast period 2016-2023.

The rising demand for next-generation sensors is one of the major factor which is increasing the demand for internet of robotic things in the global market. Next generation sensors enable the superior efficiency in the IoT which assist the technology to work successfully, due to such increasing demand of NGS in the global market is driving the growth in the global market.

In addition to driving factor there are factors such as privacy and security concerns and necessity of technological skills is restricting the growth of the global internet of robotic things market.

Geographically, North America, Asia Pacific, Europe, rest of the World are the major region. North America held the highest revenue share in 2016 in global internet of robotic things market. The growth in North America market is majorly driven by the rising research and development spending in the North American region.

The Asia Pacific Internet of robotic things market is expected to grow with an impressive CAGR during the forecast period 2016-2023. The growth in the region is mainly driven by massive expenditure done by country such as India and China for the development of new technology in the region that is creating huge growth opportunity for internet of robotics things market in the Asia Pacific region.