New York, US, March 14, 2023 (GLOBE NEWSWIRE) -- Market Analysis
According to a comprehensive research report by Market Research Future (MRFR), “Robot Software Market Research, by Vertical, by Deployment, by Robot Type, by Software, by Region - Forecast 2030”. Valuation is poised to reach USD 47.24 Billion by 2030, registering a 28.30% CAGR throughout the forecast period (2022–2030).
Drivers
Rapid Adoption by SMEs to Boost Market Growth
The market is expanding owing to an increase in the use of robot software via various SMEs & other micro industries in an effort to boost their market share and growth. The market is also expected to expand as a result of SMEs increasingly adopting robot software to cut labor and energy expenses and to replace manual workers through robotic automation systems.
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Robot Software Market Key Players
Eminent industry players profiled in the Robot Software market report include
- IBM Corporation
- ABB Ltd
- Nvidia Corporation
- Cloudminds
- Brain Corporation
- Aibrain
- Furhat robotics
- Neurala
- iRobot
- Epson Robotics
- Microsoft Corporation
- Energid technologies
- Oxbotica
- H2O.ai
Opportunities
Burgeoning Need for Packaged Food Items to offer Robust Opportunities
Manufacturers in the food and beverage (F&B) industry depend on robotics technology for automating the production process & mass-produce products along with high quality and yields due to the growing demand for packaged food items. As a result, the market's prognosis is improving.
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Restraints and Challenges
High Implementation Cost to act as Market Restraint
The high implementation cost, increase in software malware attacks, increase in robot crimes, and shortage of skilled expertise may act as market restraints over the forecast period.
Market Segmentation
The global robot software market is bifurcated based on vertical, organization size, deployment, robot type, and software type.
By software type, data management software will lead the market over the forecast period.
By robot type, industrial robots will domineer the market over the forecast period.
By deployment, the market is segmented into on-cloud and on-premise.
By organization size, large enterprises will spearhead the market over the forecast period.
By vertical, manufacturing will have the lions share in the market over the forecast period.
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COVID-19 Analysis
Globally, the COVID-19 epidemic has had an effect on every industry. Due to lockdown regulations made public by the government in various countries, which allowed manufacturing, healthcare, & other industries to operate with a small number of employees during the pandemic, the COVID-19 had a moderately negative impact on the market's growth in the first half of 2020. The productivity of industry also dramatically decreased during lockdown. So, businesses all over the world are modernizing their manufacturing methods by implementing an automated robot in order to maintain total efficiency. The market for robot software is anticipated to develop as a result of the quick rise in the deployment of service & industrial robots.
Regional Analysis
North America to Head Robot Software Market
The North American region now controls the global software market for robots. The two countries that contribute the most to the market's revenue are the US and Canada. One of the eminent factors propelling the market growth in North America is the presence of major players like IBM Corporation and Microsoft Corporation, the availability of skilled expertise, and the growing adoption of advanced technologies by verticals like BFSI, manufacturing, and transportation and logistics. Due to early adoption of the IIoT and robots by the aerospace & military and automotive industries in the two countries, the US is currently leading the industry, followed by Canada. Canada's healthcare industry is likewise making large investments to replace their antiquated systems with automated ones, including robots. Nonetheless, due to the country's expanding manufacturing sector, it is anticipated that the market in Mexico would have a considerable growth rate in the next years for robot software. Important automakers are also making investments in Mexico, which is boosting the market expansion there. Due to the early robotic software adoption across a variety of industries, including manufacturing, healthcare, defense, security, transportation, and logistics, North America is predicted to lead the market. The market in this region is anticipated to increase as a result of the increasing use of small robots & service robots for a variety of tasks.
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APAC to Have Admirable Growth in Robot Software Market
According to projections, the robot software market would grow most quickly in Asia-Pacific. The top three economies are China, Japan, and South Korea, which are also the main production hubs for semiconductors, energy & power, electronics, and medicines. Also, the region's market for robot software is anticipated to develop owing to the manufacturing & logistics sectors' growing use of robots. The market for robot software is expected to grow at the greatest CAGR in Asia-Pacific. The manufacturing hubs for the pharmaceutical, semiconductor & electronics, and automobile industries are China, Japan, India, & South Korea. The market expansion in the region is also being fueled by the rising deployment of robotics & big data technologies. In the Asia-Pacific region, China is the largest market, while Japan, South Korea, and India are expected to experience strong market expansion in the years to come. Due to the rapid rise of automation and ongoing research and development in various countries, including Japan, India, Australia, China, and Taiwan, the Asia-Pacific region currently holds a monopoly on the robotics market. In China and Japan, the market for mobile robots has grown significantly during the past few years. The rise in demand is the result of a greater need for robots especially for security & surveillance. In the Asia-Pacific area, robotics are used in various industries, including aerospace, automotive, defense, healthcare, mining, energy, and agriculture.
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