Robot Software Market Scenario
As per the assessment by Market Research Future Reports (MRFR), The Robot Software Market was valued at USD 1.59 billion in 2018 and is expected to reach USD 47.24 billion by 2027 registering a 28.30 % CAGR during 2022-2030. The increasing adoption of robots in various industries is the most substantial factor influencing the global robot software market 2021.
There has been a growing adoption for commercial and industrial application which is propelling the market at a fast pace. Besides, the rise in adoption of robotics by small and medium enterprises is another factor resulting in market growth. Moreover, the introduction of industry 4.0 is estimated to make a significant contribution to enlarging the market. Also, the increasing demand for low-cost and products is another factor leading to market expansion. However, the security issues related to DDoS threats on the data of robotics is a major restraining factor leading to market expansion.
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Robot Software Market Segmentation
The worldwide robot software market can be classified on the grounds of robot type, deployment, software type, vertical, organization size, and region.
Based on the robot type, the worldwide robot software market can be segmented into service robots and industrial robots.
Based on deployment, the worldwide robot software market can be segmented into on-premise and on-cloud.
Based on software type, the worldwide robot software market can be segmented into simulation software, recognition software, predictive maintenance software, communication management software, and data management software.
Based on vertical, the worldwide robot software market can be segmented into retail & e-commerce, BFSI, government, logistics, healthcare, IT & telecommunication, manufacturing, and others.
Based on the organization, the worldwide robot software market can be segmented into small & medium size enterprises (SMEs), and large enterprises.
Based on the region, the worldwide robot software market can be segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Robot Software Market Regional Analysis
The regional study of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been carried out. As per the analysis, the market is dominated by North America. Among all nations of North America, the US, Canada, and Mexico are likely to make the most significant contribution in market expansion. The US is likely to make the maximum contribution to expanding the market, followed by Canada and Mexico. Another factor responsible for expanding the market is the existence of various notable market competitors in the region. Besides, North America is an early and fast adopter of advanced technology.
On the other hand, the APAC region is likely to grow at the fastest speed during the forecast period. Developing economies like Japan, China, and South Korea are projected to make the most significant contribution during the forecast period. Moreover, the growing adoption of robots by the logistics industries and the manufacturing industries is speculated to propel the market growth during the forecast period.
Robot Software Market Recent Updates -
Recent updates in the global robot software market include the increasing focus on artificial intelligence (AI) and machine learning. This has led to the development of more sophisticated software suites that are capable of providing better accuracy, speed, and precision to the robots. Additionally, the use of cloud-based robotics software is on the rise as it enables a lower cost of ownership and improved scalability. Companies are also increasingly focusing on analytics and cloud-based solutions that can help provide analytics-based insights on robot performance. Additionally, the introduction of cloud-based software suites has enabled manufacturers to develop and deploy robots more quickly, thereby reducing the cost and complexity of the process.
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Robot Software Market Key Players
The notable market players of the global market are
- IBM Corporation
- ABB Ltd
- Nvidia Corporation
- Brain Corporation
- Furhat robotics
- Epson Robotics
- Microsoft Corporation
- Energid technologies
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