Global Cloud Robotics Market 2018 to Boom $18.20 Billion Value by 2026 at a CAGR of 23.1% – Analytical Research Cognizance - Reuters - 0 views
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edwird1234 on 28 Nov 18Global Cloud robotics market is accounted for $2.80 billion in 2017 and is expected to reach $18.20billion by 2026 growing at a CAGR of 23.1% during the forecast period. Proliferation of the cloud technology, increase in the adoption of IOT and advancements in AI & machine learning technologies, broad spectrum use of wireless technologies and smart devices are some of the factors fuelling the market growth. However, factors such as high initial costs and R&D expenses, data privacy and security concerns are retraining the market. Moreover, growth potential across the developing nations and increase in the use of robots for industrial automation provides huge growth opportunities for the market growth.