The Internet of Robotic Things: How IoT and Robotics Tech Are Evolving Together

One of the biggest issues in robotics is the maintenance of technology. Depending on the type of machinery, its failure can lead to either a short-term loss of production or catastrophic results for the new business. Even though most of them come with a recommended maintenance cycles, it can still vary depending on the fault of the model or the working environments wearing it out. Running the maintenance once in a fixed amount of time will not guarantee that you are safeguarded from the shutdown.

This is when the Internet of things comes into play. With increasingly cheap and available sensors you can make your robots monitor themselves or even each other. They will constantly gather information about their performance and notify about the results instantly. After analysing the data, you will know how the machinery performs and when the maintenance operations are due. By having this data, you can fix the problem before it reaches a critical point and saves a huge sum of money on maintenance fees.

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The manufacturing companies around the globe are embracing new approaches to automation, there is expansion in robotics industry beyond the optimistic predictions. China with highest market share in robotics market maintains its position as leading consumer for advanced robotic devices. Integration of robotics in Internet of things (IoT) is constantly pushing the boundaries of technology to create new smart products that make factories around the globe safe, productive, and cost-efficient.

The report aims to provide an overview of global IoT in robotics market with detailed market segmentation by component, platform, application and geography. The global IoT in robotics market is expected to witness high growth during the forecast period. Advancement in technologies and communication are some of the major factors driving IIoT market.

The IoT in Robotics Market Company Profiles are individually represented for all major participants and indices such as Financial Performance, Strategic Initiatives, Product Portfolio & Company Overview.

Company Overview:

Company overview provides the information about location of the company where it is headquartered along with the established year, employee strength as of 2017, regions where the company is operating and the key business areas.

Financial Performance:

Overall company/segment revenue for the year 2019, 2018, and 2017 is provided in the sub title “Financial Performance” (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers & acquisition, profit or loss in any strategic business unit (SBUs) and others.

Product Benchmarking:

Product benchmarking comprises the comprehensive list of products pertaining to the respective market along with the application and key features.

Strategic Initiatives:

Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in market are covered under strategic initiatives section.

Source – The Insight Partners

Source – focaloid

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