The global robot software market is segmented by robot type into industrial and service robots, out of which, the industrial robots are expected to dominate the market on the back of their properties in reducing manual workforce and increasing operational efficiency. Growing labor issues and rising competition among manufacturing industries is driving the demand for industrial robots. The market is further segmented by deployment model into on-premises and on-demand; by robot type into industrial and service robots; by software type into recognition, simulation, predictive maintenance, data management and analysis software and communication management software; by organization size into small, medium and large enterprises; by end-user into BFSI, retail, government and defense, healthcare and life sciences, transportation and logistics, manufacturing, telecommunications and IT and others.
The robot software market is anticipated to record a CAGR of 47.3% over the forecast period i.e. 2019-2027. Numerous industries are adopting robot software to reduce turnaround time and increase efficiency for better output. Additionally, governmental support for small, medium and large enterprises by providing loan facilities is expected to drive the growth of the market.
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By region, global robot software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions North America is expected to dominate the market on the back of early adoption of robotic software in various verticals such as manufacturing, healthcare, defense, security, transportation, logistics and others. Increasing adoption of tiny robots and service robots during performing various functions is expected to drive the growth of market for this region. Further, North America is anticipated to have largest growth rate on account of increasing adoption of internet of things (IoT) and artificial intelligence (AI). Increasing export of cost effective products from various emerging regions such as China, Japan, South Korea, Singapore and India are expected to boost the growth of the market in this region.
Technological Advancements to Boost Market Revenue
Growing adoption of internet of things (IoT) and artificial intelligence (AI), increasing support from government for small, medium and large enterprises across various countries, rising adoption of robot software across various verticals in order to enhance quality and efficiency are estimated to boost the market revenue in upcoming years.
However, lack of data security on cloud based system due to growing rate of cybercrime across various countries along with lack of stringent rules and regulations pertaining to cybercrime are some of the factors that are estimated to restrain the growth of the market during the forecast period.
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The report titled “Robot Software Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global robot software market in terms of market segmentation by deployment type, by robot type, by software type, by organization size, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global robot software market which includes company profiling of key companies such as Furhat Robotics, ABB, AIBrain, Brain Corp, CloudMinds, Energid Technologies, IBM, Liquid Robotics, Neurala, NVIDIA, Oxbotica.The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global robot software market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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