The
years considered for the study are as follows:
Historic Year: 2014 Base Year: 2015 Estimated Year: 2016 Projected Year: 2022 Forecast Period: 2016 to 2022
The ecosystem of Internet of
Robotic Things market comprises a well-established network of manufacturers,
distributors, hardware vendors, and service providers. The key companies in the
Internet of Robotic Things include ABB Ltd. (Switzerland), KUKA AG (Germany),
iRobot Corp. (U.S.), Amazon.com, Inc. (U.S.), Google, Inc. (U.S.), Fanuc, Corp.
(Japan). The prominent companies in the markets include the well-established,
financially stable and technically expertise players that have been operating
in the industry for several years and have diversified product portfolios,
proprietary technologies, and strong distribution networks through
collaborations and acquisitions.
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The e-commerce fulfillment
centers that are struggling to make their operations more efficient and
cost-effective, systems with smart robotics technology can provide an efficient
solution to improve order throughput and order accuracy while reducing labor
costs and optimizing space requirements. There is an increase in the
e-commerce business. Companies such as Amazon.com, Inc. (U.S.), Wal-Mart
Stores, Inc. (U.S.), Apple Inc. (U.S.), and Dell Inc. (U.S.) are facing
challenges such as insufficient warehouse space, large stock keeping unit (SKU)
counts, and pressure of fast delivery, among others. The Internet of robotic
things would help to overcome these challenges. With the increase in the growth
of online ordering, the adoption of smart robotics has been witnessed by the e-commerce
sector.
Robots have several applications in
industrial manufacturing environments. However, significant investments have
been undertaken into designing robots applications that can be used outside
factories. Smart robots are the focus of several research and development
centers in the recent years. Currently, smart robots find applications in
several areas such as computers; cognitive and social sciences; electrical; and
electronic and mechanical engineering. Robots are becoming a stimulating area
of development in robotics owing to the integration of robots with various
technologies such as smartphones, tablets, and other electronic appliances,
artificial intelligence, and computational vision.
ABB Ltd. (Switzerland) is one of the
leading companies in the IoRT market, followed by KUKA AG (Germany) providing
integrated and connected robotic solutions with advancing technology to sustain
in the collaborative industrial robots market. Key players in this market
are increasingly undertaking mergers and acquisitions to acquire new
technologies.
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