ID: MRFR/ICT/6387-HCR | 111 Pages | Published By Aarti Dhapte on March 2023
Robot Software Market is expected to reach USD 47.24 Billion with 28.30% CAGR during the Forecast Period 2022-2030.
Robot Software Market Synopsis
The Robot Software Market was valued at USD 1.59 billion in 2018 and is expected to reach USD 47.24 billion by 2030 registering a 28.30% CAGR during the forecast period. The increasing adoption of robots for commercial and industrial applications, developing artificial intelligence (AI) and Internet of Things (IoT) technologies, and increasing demand for advanced solutions by manufacturers to provide high-quality products at affordable prices are some of the major driving factors of the robot software market. However, the lack of skilled expertise is one of the major restraining factors for this market. Rising adoption of robotics by SMEs and growth in industry 4.0 are some of the key trends which are expected to offer lucrative opportunities for investors in the robot software market. Whereas, security issues related to DDoS attacks on robotics data is one of the major challenges faced by the players of the robot software market.
Virtual assistance, autonomous robots, point-of-care testing, navigation & object detection, business process automation, customer support services, and autonomous vehicles among others are some of the use cases of the robot software.
Robot Software Market Key Players:
Robot Software Market Segmentation
The global Robot software market has been segmented into software type, robot type, deployment, organization size, vertical, and region.
By software type, the market has been segmented into recognition software, simulation software, predictive maintenance software, data management software, and communication management software.
By robot type, the market has been segmented into industrial robots and service robots.
By deployment, the market has been sub-segmented into on-premise and on-cloud.
By organization size, the market has been classified into small & medium size enterprises (SMEs), and large enterprises.
By vertical, the market has been categorized as BFSI, retail & e-commerce, government, healthcare, logistics, manufacturing, and IT & telecommunication, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Robot Software Market Regional Analysis
Market Research Future (MRFR) study has covered the following countries in the regional analysis of the global robot software market the US, Canada, and Mexico in North America. Germany, the UK, France, Spain, and Italy in Europe. China, Japan, India, Singapore, Australia, the Philippines, and South Korea in Asia-Pacific. The Middle East & Africa and South America in the rest of the world.
The global robot software market is currently dominated by North America. The US, followed by Canada, are the highest contributors in terms of revenue generation for the market. Presence of key players such as IBM Corporation and Microsoft Corporation, availability of skilled expertise, increasing adoption of advanced technologies by verticals such as BFSI, manufacturing, and transportation and logistics are some of the major factors driving the growth of the robot software market in North America.
Asia-Pacific is projected to be the fastest growing market for robot software. China, Japan, and South Korea are the primary economic countries and are the major manufacturing centers of semiconductors, electronics, energy & power, and pharmaceuticals products. Further, the increasing adoption of robots by the manufacturing and logistics industries is expected to fuel the growth of robot software market in the region.
|Market Size||USD 47.24 Billion By 2030|
|CAGR||28.30% From 2022 to 2030|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Vertical, Development|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||IBM Corporation ABB Ltd Nvidia Corporation Cloudminds Brain Corporation Aibrain Furhat robotics Neurala iRobot Epson Robotics Microsoft Corporation Energid technologies Oxbotica|
|Key Market Opportunities|
|Key Market Drivers||Increasing demand for advanced solutions by manufacturers|
The market scored a valuation of USD 47.24 Billion in 2030
The market’s CAGR is 28.30% From 2022 to 2030
The mounting adoption of robotics by SMEs and growth in industry 4.0 are the trends that is offering lucrative opportunities for investors in the global robot software market. Thus, this is greatly responsible for market’s success in the current time
The lack of skilled expertise is the major restraining factors for the market’s growth
IBM Corporation, Nvidia Corporation, Aibrain, iRobot companies are leading the market with growth perspective