DUBLIN--(BUSINESS WIRE)--The "Robot Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Robot Software market is expected to register a CAGR of 45.5% during the forecast period (2021 - 2026). Robot software is an AI-enabled system used to guide the functions the robot performs. It is a set of coded instructions which executes the functions of a robot.
Companies Mentioned
- ABB Ltd.
- IBM Corporation
- NVIDIA Corporation
- CloudMinds Technology, Inc.
- Liquid Robotics, Inc.
- Brain Corporation
- AIBrain, Inc.
- Furhat Corporation
- Neurala, Inc.
Key Market Trends
Industrial Robots to Have the Majority Application
- With the advent of technologies like the Industrial Internet of Things (IIoT) vital to the smart factory concept coupled with Industry 4.0, industrial robot adoption is increasing across the manufacturing industries. An industrial robot is generally used in place of human laborers to perform dangerous or repetitive tasks with a high degree of accuracy.
- To make the robots perform efficiently with accuracy as the utmost importance, a software system known as robot software is essential to operate the robots according to the needs of the manufacturers.
- This software is an extension of human capability. It reflects the human vision that gets keener with every generation and every technological leap. With the enormous growth of robotics in the industrial sector, the need for robotic software is also increasing substantially.
- According to IFR, the annual sales volume of industrial robots increased by 114% over the last five years (2013-2017). Also, from a regional perspective, although the robot sales declined in the Asia-Pacific region in 2018, they were up 6% in the Americas and 7% in the EU. The U.S. had up 15% from 2017, while both Canada and Mexico were down 15% and 13%, respectively. Owing to the massive growth of the adoption of industrial robots across the sector, the adoption of robot software for industrial robots is expected to grow substantially.
The Asia-Pacific Region Expected to Register Maximum Growth
- The Asia-Pacific region is expected to exhibit significant growth opportunities over the forecast period. The major economies contributing to the growth of the robot software market in this region are China, Japan, Singapore, South Korea, and India. The countries in this region are increasingly adopting robotics across industries.
- The Chinese market is expected to increase its expenditure related to AI and robotics, as the country has categorically prioritized its focus on AI and robotics in its 13th five-year plans. China's National Development and Reform Commission has announced an AI three-year implementation program that is expected to be instrumental to accelerate the adoption of advanced technologies to help the country become a superpower by 2030.
- Also, the governments in these regions are providing easy loan facilities to Small and Medium-sized Enterprises (SMEs) and large enterprises with the start-up culture.
- Furthermore, the manufacturing industry growth of the emerging economies, such as China and India, to manufacture goods and export these cost-efficient products across the globe, is proliferating the growth of industrial robots in the region, which in turn is expected to increase the market for robot software in the region.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Adoption of IIoT and AI
4.3.2 Strong Penetration of Robotics Across Sectors
4.3.3 Growing Need to Reduce Costs While Maintaining Quality
4.4 Market Restraints
4.4.1 Rise in Cyber Attacks
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Software Type
5.1.1 Recognition Software
5.1.2 Simulation Software
5.1.3 Predictive Maintenance Software
5.1.4 Data Management and Analysis Software
5.1.5 Communication Management Software
5.2 By Robot Type
5.2.1 Industrial Robots
5.2.2 Service Robots
5.3 By Deployment
5.3.1 On-Premises
5.3.2 On-Demand
5.4 By Enterprise Size
5.4.1 Small and Medium Enterprises
5.4.2 Large Enterprises
5.5 By End-user Vertical
5.5.1 BFSI
5.5.2 Retail and E-commerce
5.5.3 Government and Defense
5.5.4 Healthcare
5.5.5 Transportation and Logistics
5.5.6 Manufacturing
5.5.7 IT and Telecommunications
5.5.8 Other End-user Verticals
5.6 Geography
5.6.1 North America
5.6.2 Europe
5.6.3 Asia-Pacific
5.6.4 Latin America
5.6.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/v2xt14
