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5G & Cloud Robotics for Industrial IoT Market - Industrial Forecast On Global Industry Analysis and Trends till 2025

10-10-2017 03:06 PM CET | Health & Medicine

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
5G & Cloud Robotics for Industrial IoT Market - Industrial

Robotics have become a crucial, time as well as energy efficient elements of modern industry. Development of smart robots have supported and efficiently enabled the entire processes including vehicle assembly to be carried out automatically. However, though the development of robots/robotics proved to be beneficial for various industries, it brought with it the two major challenges namely the cost and substantial amount of intelligence robots requires to function properly. Therefore, the challenge was to build simplified smart robotic system at affordable cost. In order to overcome this hindrance the research and development team around the world created cloud robotics enabled by 5G technology. Cloud robotics aims to provide cost effective solution along with creating a more simplified robotics on ground. These robots can be controlled from anywhere in the world and also navigate by themselves. The three major component of cloud robotics are artificial intelligence (AI), mobile network and the robot platform.

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The 5th generation wireless technology has greatly paved the way for such smart, new generation robots. Due to such capabilities, robots can be accurately controlled dynamically in real-time and be connected to people as well as machines locally and globally. 5G, has large bandwidth and low latency that makes it an ideal choice for cloud robotics data transmission. Moreover, efficient 5G network and MEC i.e. mobile edge computing can provide robotic solution with comprehensive support The 5G enabled cloud robotics are being used in various industries, however one industry that has taken lead in the deployment of 5G enabled cloud robotics is manufacturing. Apart from manufacturing, sectors including healthcare, transportation, and consumer services are among the forerunners, contributing to the development of the market as a whole. In manufacturing in particular 5G enabled cloud robotics is expected to improve the performance of the production plant for instance the technology would support advance lean manufacturing and also provide effective preventive maintenance. Similarly, in healthcare the technology would provide assistance in patient care, and can also optimize hospital logistics. Cloud based medical services will also gain popularity. The growth in the adoption of 5G enabled cloud robotics will also bring various opportunities in healthcare such as remote surgery further down the line. Therefore, given the potentially huge range of use cases, the business prospects of 5G enabled cloud robotics looks promising.

For deploying a cloud-based robotics system, constant, efficient and reliable connectivity is essential. The wireless connectivity provides scalability as it offers industry the flexibility to add new robots, thereby helping the industry to keep the modification costs at a minimum level. This in turn provide greater freedom in decision-making at the business level. The 5G technology enabled cloud robotics has the capability to deliver the required performance needed by different industry

The 5G & cloud robotics for industrial IoT market is driven by the need for more simplified robotics solution that are easy to deploy and use. However the market, and the cloud robotics in particular present certain challenges. A standard cloud robotics solution cannot fit for all business model. Hence there is the requirement for a shared platform for common business function that can be tailored to a particular application.

The 5G & cloud robotics for industrial IoT market can be segmented on the basis of the end-use industry verticals. The end-use industry verticals might include manufacturing, agriculture, healthcare, transportation, consumer products, and entertainment among others.

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With the strong growth of 5G and cloud robotics for industrial IoT market, a concrete business model has been arised. There are various participants in the cloud robotics business model including vendors who are selling robotic software such as MathWorks and Rbotnik. Vendors selling robot component such as Synapticon GmbH and The Shadow Robot Company. Then there are vendors selling robot platform who will provide hardware and software platform, such as SoftBank Group Corp, ABB Group among others. Apart from these vendors, the involvement of telecom operators to provide robotics connection is strong and would be vital in coming years. There are also vendors who provide dedicated artificial intelligence (AI) solution including machine vision, big data analytics, and natural language processing among others. Companies such as IBM Corporation, Google Inc., CloudMinds are key vendors for AI solution.

As the technologies become more accessible and organized, there would be a significant growth in the adoption of 5G enabled cloud robotics across all the industry verticals.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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