North America Expected to have Largest Market Size in Cloud Robotics Market
North America is expected to have the largest market size in the Cloud Robotics Market during the forecast period. The reason being, a majority of the vendors, such as IBM, Microsoft, Google, and Amazon Robotics, are based in North America.
The region is also expected to account for the major market share and considered the most advanced region in terms of cloud, AI, and machine learning technologies. The region witnesses many R&D activities in the field of robotics, bringing advancements to cloud computing, AI, robotics, and machine learning.
Asia Pacific (APAC) is expected to witness the highest CAGR in the global Cloud Robotics Market during the forecast period. With diversified geographic areas and a high customer base, the APAC region is expected to exhibit a strong growth in the Cloud Robotics Market.
The growth in this region is primarily driven by the presence of many manufacturing units that are gradually embracing the adoption of advanced technologies, such as cloud robotics. The market in the developing regions, such as the Middle East and Africa (MEA) and Latin America, is expected to grow, due to the low costs and greater agility offered by the cloud solutions, the increase in mobile and wireless penetration, and the development in infrastructures.
