ICT & Electronics Global Cloud Robotics Market (2016-2024)- Research | Page 7

are some of the major factors expected to propel the growth of global
cloud robotics market over the forecast period.
In terms of region, global cloud robotics market is segmented into five
major regions including North America, Europe, Asia Pacific, Latin
America and Middle East & Africa region. In terms of market share,
Europe region is the biggest market of the cloud robotics .Rising
consumer’s awareness towards robotics and presence of some major
cloud robotics companies such as Cervi Robotics and Torninova are the
major factors which are driving the growth of cloud robotics market in
Europe region. By share, North America region is the second leading
market of cloud robotics and is anticipated to witness remarkable growth
over the forecast period.
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Apart from this, Asia Pacific region is the fastest growing regional
market of cloud robotics and is expected to flourish at a compound
annual growth (CAGR) of 34.1% over the forecast period. Japan &
China are expected to be the key contributors in growth of cloud
robotics in this region. Middle East & Africa and Latin America regions
are also anticipated to grow at a satisfactory growth rate over the
forecast period.
Market Segmentation
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