Isaac Asimov has developed the Robot Manufacturing Regulations and rules so that they are unable to effect, hamper, or injure humans in the surrounding area. Under this point of Governance, he has developed 3 laws of robotics including Robots may not injure a human being, must obey orders (unless they go against the First Law) and must protect themselves (unless to do so conflicts with the First or Second Law). Moreover, many regulatory bodies and Government Agencies have formed a number of laws for minimizing vulnerabilities.
The article cited AMA's "Global Internet of Robotic Things Market Study" explored CAGR of %. According to the report, Adoption by the E-commerce Industry is one of the primary growth factors for the market. Increasing Application Areas owing to the Integration of Robots with Various Technologies
is also expected to contribute significantly to the Internet of Robotic Things market. Overall, Collaborative Industrial Robots (Automotive, Electronics, Food and Beverages, Other)
applications of Internet of Robotic Things, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Platform, such as Device Management Platform, is boosting the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Service, such as Professional Services (Deployment and Integration, Support and Maintenance, Consulting Services), is boosting the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Software, such as Real-Time Streaming Analytics, is boosting the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Component, such as Sensors, is boosting the Internet of Robotic Things market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Internet of Robotic Things market identified that the demand is rising in many different parts of the world as "Adoption of Industrial Robots by Small and Medium Enterprises
". Furthermore, some recent industry insights like "In July 2020, Dexterity announced the availability of its full-stack, hardware-agnostic robotic systems. Dexterity robots allow customers to unlock the maximum value of their workforce. Its robots automate repetitive pick-pack tasks and can handle complex manipulations in unpredictable environments, allowing warehouse employees to focus on higher-level cognitive work. The robots utilize artificial intelligence, advanced control theory, computer vision, and the sense of touch to adapt quickly, making them safe to work alongside humans." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Internet of Robotic Things market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Internet of Robotic Things market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Internet of Robotic Things market size is calculated using market estimation process, the Internet of Robotic Things market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Internet of Robotic Things market size has been validated using both top-down and bottom-up approaches.