MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on the Global Robot Software Market.
The Global Market for Robot Software is estimated to Grow at a significant rate during the forecast period from 2023 to 2032. The Robot Software market industry is projected to grow from USD 6.5433 Billion in 2023 to USD 48.041 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 28.30% during the forecast period (2023 - 2032). The geographic analysis of robot software market has been conducted for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, and Italy), Asia-Pacific (China, Japan, India, Singapore, Australia, Philippines, and South Korea), and the rest of the world (including the Middle East & Africa, and South America).
North America is currently dominating the market in terms of market share. The US, followed by Canada, is leading the market due to early adoption of Industrial Internet of Things (IIoT) and robotics by the aerospace & defense and automotive industries in the countries. The healthcare sectors in Canada is also investing significantly in upgrading their traditional systems with automated solutions including robots. However, the market in Mexico is projected to exhibit a significant growth rate in robot software market in the coming years due to growing manufacturing sector in the country. Key automotive brands are also investing in Mexico which is further fueling the market growth in the country.
Europe is the second highest contributor in terms of revenue generation for the robot software market. Germany is leading the market due to presence of key players in the country such as ABB, KUKA, and Kawasaki Robotics. The extensive research and development of artificial intelligence in the region has benefitted these key players in upgrading their manufacturing as well as business processes with automated solutions.
The market in Asia-Pacific is projected to register the highest CAGR in the global robot software market. China, Japan, India, and South Korea are the manufacturing centers of automotive, semiconductor & electronics, and pharmaceutical industries. The Increasing adoption of robotics and big data technologies is further driving the market growth in the region. China is the leading market in Asia-Pacific region, whereas Japan, and South Korea, followed by India are projected to gain high market growth in the coming years.
The rest of the world, which consists of the Middle East & Africa and South America is expected to register a steady growth rate in robot software market.
MRFR has considered IBM Corporation, ABB Ltd, Nvidia Corporation, Cloudminds, Brain Corporation, Aibrain, Furhat robotics, Neurala, iRobot, Epson Robotics, Microsoft Corporation, Energid technologies, Oxbotica, H2O.ai, and others as some of the key players in robot software market.
The global robot software market has been segmented into software type, robot type, deployment, organization size, and vertical. By software type, the market has been classified as recognition software, simulation software, predictive maintenance software, data management software, and communication management software. By robot type, the market has been sub-segmented into industrial robots, and service robots. By deployment, the market has been further bifurcated into on-premise and on-cloud. By organization size, the market has been divided into SMEs, and large enterprises. By vertical, the market has been categorized as BFSI, retail & e-commerce, government, healthcare, logistics, manufacturing, IT & telecommunication, and others.