Robot Software Market: Development Trends and Worldwide Growth 2020-2024
MRFR has identified IBM Corporation, ABB Ltd, Cloudminds, Nvidia Corporation, Brain Corporation, Aibrain, Neurala, Furhat Robotics, iRobot, Microsoft Corporation, Epson Robotics, Energid Technologies, H2O.ai, Oxbotica, and others as some of the key players in the global robot software market.
Major market players are expected to contribute substantially towards the massive growth of the global robot software market over the review period, with mergers, business partnerships, acquisitions and innovations.
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According to the latest report by Market Research Future (MRFR), the global root software market is expected to register a significant valuation of USD 13.48 billion by 2024, at a substantial CAGR of 44.45% over the review period.
The technological advancements taking place across the globe, along with the massive adoption of automated solutions, including robotic software, is the primary factor influencing the growth of the market. This trend is expected to continue to drive the market over the review period.
The Robot Software Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Robot Software Market highlights the future prediction and the growth alternatives that can be created.
The global market for Robot software has been segmented based on the robot type, software type, deployment, vertical, organization size, and region.
Based on software type, the market has been segmented into simulation software, recognition software, data management software, and communication management software, and predictive maintenance software.
By robot type, the robot software market has been segmented into service robots and industrial robots.
ON the basis of deployment, the market has been sub-segmented into on-cloud and on-premise.
By organization size, the robot software market has been classified into large enterprises, and small & medium-size enterprises (SMEs).
Based on the vertical, the market has been categorized as BFSI, retail & e-commerce, government, healthcare, logistics, manufacturing, and IT & telecommunication, and others.
According to Market Research Future (MRFR), the global Robot Software Market has been segmented into Europe, Asia-Pacific, North America, and the rest of the world.
North America is presently dominating the market in terms of market share and is expected to retain its significant market share over the review period. The US, and Canada are likely to lead the market due to early adoption of the advanced technologies such as robotics and Industrial Internet of Things (IIoT) by the automotive and aerospace & defense industries in these developed countries. The healthcare sector in Canada is also expected to invest significantly towards the advancement of their traditional systems with automated solutions such as robots. on the other hand, the market in Mexico is expected to display a significant growth rate in the robot software market over the forecast period, owing to the rising manufacturing sector in the country. Key automotive brands are also slated to invest in Mexico, which in turn, is expected to fuel the market growth of the region substantially over the assessment period.
Europe is the second-largest region in terms of revenue generation for the global robot software market. Germany, one o the deloped countries of Europe, is likely to lead the market owing to the presence of key players in the country, such as KUKA, ABB, and Kawasaki Robotics. The comprehensive research and development activities for artificial intelligence in the region is expected to aid these major market players in the upgradation their business as well as manufacturing processes with automated solutions such as robots.
The market in Asia-Pacific is anticipated to register the highest CAGR in the global robot software market. Developing countries with positively changing economic dynamics such as China, Japan, India, and South Korea have become the industrial centers of semiconductor & electronics, automotive, and pharmaceutical industries. this factor is expected to encourage market growth over the review period. Moreover, the Increasing adoption of robotics and big data technologies is further fuelling the market growth in the region. China is expected to account for the leading market in the Asia-Pacific region, whereas Japan, and South Korea, followed by India, are anticipated to gain significant market growth over the assessment period.
LIST OF TABLES
Table 1 Robot Software Market, By Region, 2019–2024
Table 2 North America: Robot Software Market, By Country, 2019–2024
Table 3 Europe: Robot Software Market, By Country, 2019–2024
Table 4 Asia-Pacific: Robot Software Market, By Country, 2019–2024
Table 5 Rest Of The World: Robot Software Market, By Region, 2019–2024
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LIST OF FIGURES
FIGURE 1 The Global Robot Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of The Global Robot Software Market
FIGURE 4 Value Chain/Supply Chain Of The Global Robot Software Market
FIGURE 5 Share Of The Global Robot Software Market In 2018, By Country (In %)
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