“Internet of Robotic Things: a step towards bridging of physical and digital worlds”
Internet of Robotic Things (IoRT) is ‘robot connected as a thing’ in IoT technology which establishes connections with other things such as sensors, power systems and many more over the Internet. The major driving factors for the growth of Internet of robotics system are high speed data connectivity and seamless web connectivity, increase in the use of smart devices, e-commerce, automation in manufacturing process, digitalization, elderly population, rise in availability of broadband infrastructure and urbanization. Growing requirements for access and control over Internet of robotics technology devices across industries and adoption of industrial robots by small and medium enterprises is expected to create opportunity for vendors operating in Internet of robotic things market.
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Industry 4.0:Fourth Wave of the Internet defined by the ‘Internet of Everything’
The model are expected to be characterized by the telling rise of integrated data analysis assisting to fulfill customer requirements and the development of horizontal cooperation across the ecosystem. massive investments in industry 4.0 due to digital transition could create ample of opportunities in the market. In the next five years, investments in industry 4.0 solutions are predicted to secure a more than 50.0% share of planned capital investments.
Let’s look at which are the robotics companies have already implemented IoT concepts into their systems: ABB Ltd., FANUC Corporation, KUKA AG, Cisco Systems Inc, Aethon Inc, iRobot Corporation and others.
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“Forget the Internet of Things: Internet of Robotic Things (IoRT) is a multibillion-dollar business”
The opportunities in the global Internet of Robotic Things (IoRT) market will aggregate for a revenue of multibillion US dollars by the end offorecast period, incrementing at a alarming CAGR.