Increase in need for automation and safety in organizations, rapid adoption by SMEs to lower down labor and energy costs, and surge in usage of robots in several industries drive the growth of the global robot software market. Owing to decline in productivity and complete or partial disruptions in manufacturing processes during the lockdown, companies have been adopting robot software to advance their manufacturing models.
Portland, OR, Aug. 02, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global robot software market generated $4.27 billion in 2020, and is estimated to generate $47.24 billion by 2030, witnessing a CAGR of 27.3% from 2021 to 2030. The report provides a comprehensive analysis of changing market trends, key segments, top investment pockets, value chain, regional scenario, and competitive landscape.
Increase in need for automation and safety in organizations, rapid adoption by SMEs to lower down labor and energy costs, and surge in usage of robots in several industries drive the growth of the global robot software market. However, high cost of implementation and rise in malware attacks on the software hinder the market growth. On the other hand, increase in adoption of IoT and AI-based robots in industries creates new opportunities in the coming years.
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Impact of Covid-19 Pandemic on Robot Software Market:
Owing to decline in productivity and complete or partial disruptions in manufacturing processes during the lockdown, companies have been adopting robot software to advance their manufacturing models.
Rapid adoption of robotic services and industrial robots from industry verticals such as manufacturing, logistics, healthcare, and others are expected to register the growth in the robot software market during the Covid-19 pandemic.
The implementation of automated robots to maintain and accelerate manufacturing processes led to surge in adoption of robot software across the globe.
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The report offers detailed segmentation of the global robot software market based on software type, robot type, enterprise size, industry vertical, and region.
Based on software type, the data management and analysis software segment accounted for the largest share in 2020, holding nearly one-third of the total share, and is expected to continue its leadership status during the forecast period. However, the communication management software segment is estimated to portray the highest CAGR of 29.2% from 2021 to 2030.
Based on robot type, the industrial robots segment held the highest share in 2020, contributing to around four-fifths of the global robot software market, and is expected to continue its dominance in terms of revenue during the forecast period. However, the service robots segment is projected to manifest the largest CAGR of 30.6% from 2021 to 2030.
Based on industry vertical, the manufacturing segment accounted for the highest market share in 2020, contributing to nearly four-fifths of the total market share, and is expected to continue its lion’s share during the forecast period. However, the aerospace & defense segment is estimated to witness the highest CAGR of 30.3% from 2021 to 2030.
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Based on region, Asia-Pacific accounted for the highest share in terms of revenue in 2020, holding more than two-thirds of the total share, and is projected to continue its lead position by 2030. Moreover, this region is projected to grow at the fastest CAGR of 28.1% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global robot software market analyzed in the research include ABB Ltd., Brain Corporation, AIbrain Inc., Energid Technologies Corporation, CloudMinds Technology Inc., H2O.ai, Furhat Robotics, Liquid Robotics, Inc., International Business Machines Corporation, and NVIDIA Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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