Outlook on the Robotics Software Global Market to 2028: Asia-Pacific Accounted for the Largest Market Share in 2021
DUBLIN, March 20, 2023 /PRNewswire/ -- The "Global Robotics Software Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Software Type, Robot Type, Deployment, Enterprise Size, End User, and Region" report has been added to ResearchAndMarkets.com's offering.
According to this analysis, the Global Robotics Software Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2028) and is expected to reach approximately US$ 15 billion by 2028.
The investment in various countries by the governments and the high adoption of Robotics Software in various end-user industries is positively impacting the market growth.
Developed markets such as European regions and developing markets such as the Asia-Pacific region are witnessing huge investments by start-ups, and existing large players and governments which are driving the market growth.
Concerns about data privacy and malware attacks along with the high costs associated with the implementation of industrial robots and robotics software are factors that act as constraints for market growth.
Increasing cyber-attacks and robot crimes are major hindrances to the market's growth. These factors are still a major concern for some end-user industries which are worried by data theft and hence they are taking a cautious approach when it comes to the adoption of robotic software.
The COVID-19 outbreak had a positive impact on the demand for Robotics Software as various companies installed robots to disinfect factory areas as well as it helped them to deliver food to their customers without risking any health-related issues during the pandemic for their employees.
Scope of the Report
The Robotics Software Market is segmented by software type, robot, deployment, enterprise size, and end user. In addition, the report also covers market size and forecasts for the four major regions' Robotics Software Market. The revenue used to size and forecast the market for each segment is US$ billion.
By Software Type
- Recognition Software
- Simulation Software
- Predictive Maintenance Software
- Data Management and Analysis Software
- Communication Management Software
By Robot Type
- Industrial Robots
- Service Robots
By Deployment Mode
By Enterprise ize
- Small and Medium Enterprises
- Large Enterprises
By End User
- Retail and E-commerce
- Government and Defense
- Transportation and Logistics
- IT and Telecommunications
- North America (USA, Canada, and Mexico)
- Europe (Germany, UK, France, Spain, and Italy)
- Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia)
- LAMEA (Latin America, Middle East, and Africa)
- ABB Ltd
- Clearpath Robotics
- NVIDIA Corporation
- CloudMinds Technology, Inc
- Liquid Robotics, Inc
- Brain Corporation
- AIBrain, Inc
- Furhat Corporation
- Neurala, Inc
- IBM Corporation
Key Trends by Market Segment
- By Software Type: The Recognition Software segment held the largest market share in the Global Robotics Software Market in 2021
- The recognition software in the robots enables them with cognitive ability This software is integrated behind the robots and helps them to identify an object and give its response accordingly
By Robot Type: The Industrial Robots segment held the larger share of the Global Robotics Software Market in 2021.
The significant growth in demand for industrial robots can be attributed to the fact that they can perform dangerous tasks repeatedly with more accuracy than human beings and have a longer life span to perform such tasks.
These robots also help companies in achieving higher operational efficiency and lowering labor costs which are encouraging more and more organizations to install these robots.
According to data provided by the International Federation of Robotics, a total of 3.5 million industrial robots have been installed worldwide by 2021 with a growth rate of 15% from 2020 and a CAGR of 14% for the five-year period 2016-2021.
By Deployment Mode: The On-Demand segment held the larger share of the Global Robotics Software Market in 2021.
The on-demand deployment mode or the cloud-based deployment mode is more adopted because it is a cost-effective method by which the companies are able to save a lot of costs related to data, personnel, software, hardware, and maintenance.
By Enterprise Size: The Large Enterprises segment held the larger share of the Global Robotics Software Market in 2021.
The covid-19 pandemic made a lot of large enterprises make changes in their manufacturing facilities and deployed automated robots to mitigate any such risks in the future. Also, as the investment costs are a bit high so large enterprises have been quicker to adapt to such models faster than their small and medium enterprise counterparts.
By End-user: The Manufacturing segment held the larger share of the Global Robotics Software Market in 2021.
The rising need for the adoption of automation, shortage of labor for factories, and robot simulation software that is making robotic automation a feasible option for the sector aided by the necessity to complete repetitive hazardous tasks more accurately & safely are the major factors for this segment to dominate the market.
By Geography: Asia Pacific accounted for the largest market share in 2021 within the total Global Robotics Software Market.
Asia-Pacific region has some established manufacturing markets in countries such as China, Japan, and South Korea. These countries have been very bullish on innovating and modernizing their existing manufacturing facilities which have seen the large-scale installation of industrial robots.
The region is also seeing increasing investments by the governments and many start-ups in robotics software of some countries such as China, India, and Thailand which is going to help the region maintain its dominant position during the forecast period.
For more information about this report visit https://www.researchandmarkets.com/r/2u9d1h
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