Global Internet of Robotic Things Market is valued approximately USD 267.49 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 28.6% over the forecast period 2023-2030. Internet of Robotic Things refers to a concept in which robotic devices are connected to the internet and can communicate with each other, with humans, and with other digital systems and services. It combines the Internet of Things (IoT) and robotics to create a network of intelligent and connected robotic devices. The Internet of Robotic Things Market is expanding because of factors such as the increasing number of e-commerce platforms and rising demand for robotics automation. IoRT devices can exchange data with each other and with cloud-based platforms, enabling real-time monitoring, control, and analysis of robotic systems. As a result, the demand for the Internet of Robotic Things has progressively increased in the international market during the forecast period 2023-2030.
E-commerce platforms often require automation for tasks such as order processing, inventory management, and order fulfilment. As the number of e-commerce platforms grows, there is an increased demand for robotics and automation solutions to handle these tasks efficiently. According to Statista, internet sales have become increasingly important in retailing. E-commerce is projected to account for roughly 19% of global retail revenues by 2022. Furthermore, WooCommerce was the worldwide leading e-commerce software platform in 2023, with a market share of 39%. Squarespace Online Stores and Woo Themes ranked second and third, with shares of 14.95 and 14.67%, respectively. Another important factor that drives the Internet of Robotic Things Market is the increasing demand for robotics automation. Robotics automation generates vast amounts of data from sensors and actuators. This data can be valuable for decision-making, predictive maintenance, and process optimization. The IoRT relies on data sharing and analysis, making it more effective when there is a substantial source of data from automation systems. In addition, as per Statista, the global market for industrial robots was sized at about USD 43.8 billion in 2021. The market is expected to grow at a compound annual growth rate of around 10%, reaching about USD 70.6 billion by 2028. Moreover, the rising deployment of robotics in education and increasing technological advancement in the Internet of Robotic Things are anticipated to create lucrative growth opportunities for the market over the forecast period. However, the rising deployment of robotics in education and increasing technological advancement in the Internet of Robotic Things is going to impede overall market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Internet of Robotic Things Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing use of smart robotics for a variety of applications, leading to increased efficiency and productivity across industries in the region. The region's dominant performance is anticipated to propel the overall demand for the Internet of Robotic Things. Asia Pacific is expected to grow fastest over the forecast period, owing to factors such as rising adoption of connected devices and growth in the expenditure to strengthen the education industry in the region.
Major market player included in this report are:
- Fanuc Corporation
- ECA Group
- Bluefin Robotics Corporation
- iRobot Corporation
- Cisco Systems Inc
- Amazon.com Inc
- Aethon Inc
- ABB Ltd
- Intel Corporation Limited
- Google LLC
Recent Developments in the Market:
- In May 2023, Savant WMS, a leading provider of Warehouse Management Systems, and Locus Robotics, a market leader in autonomous mobility robots, collaborates to develop a cost-effective and adaptable warehouse automation solution for mid-market companies. Savant WMS is fully integrated with Locus Robotics as part of the agreement, allowing mid-market firms to benefit from the award-winning Locus Robotics technology. Warehouse managers are going to benefit from increased efficiency, productivity, and accuracy in their daily operations by integrating Savant WMS with Locus Robotics.
Global Internet of Robotic Things Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Type, Platform, Component, End User, Software Type, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
- Sensors
- Actuators
- Control System
- Power Source
- Others
By Platform
- Device Management Platform
- Application Management Platform
- Network Management Platform
By Component
By End User
- Aerospace and Defense
- Automotive and Manufacturing
- Healthcare
- Food and Beverages
- Logistics
- Media and Entertainment
- Others
By Software Type
- Network Bandwidth Management
- Data Management
- Remote Monitoring System
- Security Solution
- Real Time Streaming Analytics
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Internet of Robotic Things Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Internet of Robotic Things Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Internet of Robotic Things Market, by Platform, 2020-2030 (USD Billion)
- 1.2.4. Internet of Robotic Things Market, by Component, 2020-2030 (USD Billion)
- 1.2.5. Internet of Robotic Things Market, by End User, 2020-2030 (USD Billion)
- 1.2.6. Internet of Robotic Things Market, by Software Type, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Internet of Robotic Things Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Internet of Robotic Things Market Dynamics
- 3.1. Internet of Robotic Things Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing number of e-commerce platforms
- 3.1.1.2. Rising demand for robotics automation
- 3.1.2. Market Challenges
- 3.1.2.1. Data Security and Interoperability Issues
- 3.1.2.2. High Cost of Research & Development
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising deployment of robotics in education
- 3.1.3.2. Increasing technological advancement in Internet of Robotic Things
Chapter 4. Global Internet of Robotic Things Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Internet of Robotic Things Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Internet of Robotic Things Market by Type, Performance - Potential Analysis
- 5.3. Global Internet of Robotic Things Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Internet of Robotic Things Market, Sub Segment Analysis
- 5.4.1. Sensors
- 5.4.2. Actuators
- 5.4.3. Control System
- 5.4.4. Power Source
- 5.4.5. Others
Chapter 6. Global Internet of Robotic Things Market, by Platform
- 6.1. Market Snapshot
- 6.2. Global Internet of Robotic Things Market by Platform, Performance - Potential Analysis
- 6.3. Global Internet of Robotic Things Market Estimates & Forecasts by Platform 2020-2030 (USD Billion)
- 6.4. Internet of Robotic Things Market, Sub Segment Analysis
- 6.4.1. Device Management Platform
- 6.4.2. Application Management Platform
- 6.4.3. Network Management Platform
Chapter 7. Global Internet of Robotic Things Market, by Component
- 7.1. Market Snapshot
- 7.2. Global Internet of Robotic Things Market by Component, Performance - Potential Analysis
- 7.3. Global Internet of Robotic Things Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
- 7.4. Internet of Robotic Things Market, Sub Segment Analysis
- 7.4.1. Software
- 7.4.2. Services
Chapter 8. Global Internet of Robotic Things Market, by End User
- 8.1. Market Snapshot
- 8.2. Global Internet of Robotic Things Market by End User, Performance - Potential Analysis
- 8.3. Global Internet of Robotic Things Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
- 8.4. Internet of Robotic Things Market, Sub Segment Analysis
- 8.4.1. Aerospace and Defense
- 8.4.2. Automotive and Manufacturing
- 8.4.3. Healthcare
- 8.4.4. Food and Beverages
- 8.4.5. Logistics
- 8.4.6. Media and Entertainment
- 8.4.7. Others
Chapter 9. Global Internet of Robotic Things Market, by Software Type
- 9.1. Market Snapshot
- 9.2. Global Internet of Robotic Things Market by Software Type, Performance - Potential Analysis
- 9.3. Global Internet of Robotic Things Market Estimates & Forecasts by Software Type 2020-2030 (USD Billion)
- 9.4. Internet of Robotic Things Market, Sub Segment Analysis
- 9.4.1. Network Bandwidth Management
- 9.4.2. Data Management
- 9.4.3. Remote Monitoring System
- 9.4.4. Security Solution
- 9.4.5. Real Time Streaming Analytics
Chapter 10. Global Internet of Robotic Things Market, Regional Analysis
- 10.1. Top Leading Countries
- 10.2. Top Emerging Countries
- 10.3. Internet of Robotic Things Market, Regional Market Snapshot
- 10.4. North America Internet of Robotic Things Market
- 10.4.1. U.S. Internet of Robotic Things Market
- 10.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 10.4.1.2. Platform breakdown estimates & forecasts, 2020-2030
- 10.4.1.3. Component breakdown estimates & forecasts, 2020-2030
- 10.4.1.4. End User breakdown estimates & forecasts, 2020-2030
- 10.4.1.5. Software Type breakdown estimates & forecasts, 2020-2030
- 10.4.2. Canada Internet of Robotic Things Market
- 10.5. Europe Internet of Robotic Things Market Snapshot
- 10.5.1. U.K. Internet of Robotic Things Market
- 10.5.2. Germany Internet of Robotic Things Market
- 10.5.3. France Internet of Robotic Things Market
- 10.5.4. Spain Internet of Robotic Things Market
- 10.5.5. Italy Internet of Robotic Things Market
- 10.5.6. Rest of Europe Internet of Robotic Things Market
- 10.6. Asia-Pacific Internet of Robotic Things Market Snapshot
- 10.6.1. China Internet of Robotic Things Market
- 10.6.2. India Internet of Robotic Things Market
- 10.6.3. Japan Internet of Robotic Things Market
- 10.6.4. Australia Internet of Robotic Things Market
- 10.6.5. South Korea Internet of Robotic Things Market
- 10.6.6. Rest of Asia Pacific Internet of Robotic Things Market
- 10.7. Latin America Internet of Robotic Things Market Snapshot
- 10.7.1. Brazil Internet of Robotic Things Market
- 10.7.2. Mexico Internet of Robotic Things Market
- 10.8. Middle East & Africa Internet of Robotic Things Market
- 10.8.1. Saudi Arabia Internet of Robotic Things Market
- 10.8.2. South Africa Internet of Robotic Things Market
- 10.8.3. Rest of Middle East & Africa Internet of Robotic Things Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.1.1. Company 1
- 11.1.2. Company 2
- 11.1.3. Company 3
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Fanuc Corporation
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Recent Developments
- 11.3.2. ECA Group
- 11.3.3. Bluefin Robotics Corporation
- 11.3.4. iRobot Corporation
- 11.3.5. Cisco Systems Inc
- 11.3.6. Amazon.com Inc
- 11.3.7. Aethon Inc
- 11.3.8. ABB Ltd
- 11.3.9. Intel Corporation Limited
- 11.3.10. Google LLC
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption