25 Sep The Market For Internet of Robotic Things (IoRT) is About to Expload
Internet of Robotic Things (IoRT) looks like a prime market opportunity for tech engineering / manufacturing focused entrepreneurs. The only downside may be the high cost of R&D and long processes for new product development.
“The Internet of Robotic Things (IoRT) market is expected to be valued at USD 21.44 billion by 2022, growing at a CAGR of 29.7% between 2016 and 2022. The growth of this market is majorly driven by the adoption of IoRT by e-commerce industry, increasing application areas owing to integration of robots with various technologies, short payback period and ROI.”
“The IoRT services market is expected to grow at the highest rate during the forecast period. Factors such as increasing adoption of connected devices across organizations and evolution of high-speed networking technologies have encouraged organizations in every industry sector to adopt IoRT solutions. However, for the integration of new solutions into the company’s existing infrastructure, companies would need managed and professional services to adopt IoRT solutions.”