Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Robot Software market.
Trusted Business Insights presents an updated and Latest Study on Robot Software Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Robot Software market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Robot Software Market: By Type (Service Robots and Industrial Robots), By Application (Residential, Commercial, and Industrial) By End Use (Manufacturing, Retail and ecommerce, Telecom and IT, Government and Defense, Transportation and Logistics, and Others)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2018-2025.
According to the report, global demand for robot software market was valued at USD 1,745.5 Million in 2018, and is expected to reach USD 22,740.3 Million in 2025, growing at a rate of 44.3% between 2019 and 2025.
Robot software is used to perform certain tasks to achieve a desired output over a command through coded inputs. The demand for industrial robots has increased since 2010. Robot software market is expected to witness a substantial growth from 2019 to 2025 due to adoption of Internet of Things, artificial intelligence (AI), and other software technologies. Robot software is used in various industries such as logistics, manufacturing, and many more. In commercialization, the electronics industry has witnessed 18% growth, followed by 16% growth in automotive and metal industry in 2016.
Increasing demand of automated technology drives the robot software market. Several industries are focusing towards adopting advanced technologies for business process automation, to enhance their manufacturing process and quality as well as reducing cost and production time. Several other factors that drive the usage of robot software are to manage highly repetitive tasks like managing billing system. Increasing adoption of latest technologies in logistics for effective and efficient task management will further boost the growth of robot software market Adoption of service robots has also increased in various sectors. One of such example is that of retail sector use service robots to enhance customer experience. Thus robot software market is anticipated to grow over the coming years. However, major restraining factor for the development of the robot software market is malware attack on data engulfed by robots.
Robot software market is bifurcated on the basis of type, application, end use, and region. Based on type segment robot software market further segmented into service robots and industrial robots. Industrial Robots segment is expected to hold a notable share in robot software market during the estimated timespan. This share is attributed to increasing adoption in manufacturing process and quality checks. Around 40% of robots are used for material handling in most of industries in year 2016. On the basis of application robot software market is divided into residential, commercial, and industrial. Commercial segment projected to grow at a considerable rate due to adoption of latest and advanced technologies in task management.
North America is anticipated to witness substantial growth in robot software market due to large investments along with its high adoption rate in logistics. The U.S and Canada are major contributors in terms of revenue generation for the market. Asia Pacific region is projected to hold a significant share in robot software market. This share is due to the growing demand for robotics in manufacturing sector. Lack of skilled labor is another factor for market development in this region. Several countries contributing to growth are India, Singapore, South Korea, Japan and China. As Singapore will have a significant growth in the industry in Asia Pacific, as Singapore had 488 robots per 10,000 employees in 2016. China is driving the robot software market in region, due to increasing demand for robotics in electronic and automotive manufacturing sector.
Top players in the robot software market are IBM Corporation, Microsoft Corporation, Epson, iRobot, Neurala, Inc., AIBrain, Furhat Robotics, Energid Technologies Corporation, CloudMinds Technolgy, Inc., and Oxbotica among others.
Quick Read Table of Contents of this Report @ Robot Software Market: By Type (Service Robots and Industrial Robots), By Application (Residential, Commercial, and Industrial) By End Use (Manufacturing, Retail and ecommerce, Telecom and IT, Government and Defense, Transportation and Logistics, and Others)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2018-2025.
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