Driven by a rise in demand from end-user industries along with the requirement of reducing labor costs and improving operational efficiency, the Global Robotics Software Market is Forecasted to Reach ~US$ 15 Bn by 2028 says Ken Research Study.
Robotics Software is the set of inputs given as a program to the robot to get a specific task done at the desired output level. This software is used to automate processes, improve operational efficiency, lower operational risks and costs as well as improve internal processes. It enables the robots to function safely with intelligence and productively.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. Increased Adoption of Robotics Software in Various End-User Industries Have Increased the Market’s Growth Rate
According to Research estimates, the Global Robotics Software Market – which was valued from around US$ 3 Bn in 2017 to nearly US$ 7 Bn by 2022 – is expected to grow further to ~ US$ 15 Bn opportunity by 2028.
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Some of the factors that propel the growth of the Robotics Software market over the forecast period include rising demand from end-user industries, growing installation of industrial robots for manufacturing set-ups, adoption of emerging technologies such as the Industrial Internet of Things (IIoT), and growing investments by countries as well as start-ups are expected to be the key drivers of the market’s growth.
2. High Growth Rate of Adoption of Industrial Robots Globally is Helping the Market Growth
The requirement of labor cost reduction, improved quality, more accuracy, and production scalability are some of the factors that are driving large-scale industries to install more numbers of industrial robots in their operations. The scenario is same for the small and medium enterprises as well as other micro-organizations which are following the same methodology to improve speed and reduce energy costs.
To achieve these objectives, it is imperative that companies operate the robots with the correct robotics software so that the desired level of manufacturing quality can be achieved. So as the demand for more and more advanced industrial robots grows the robotics market is growing proportionately at a high rate.
3. High Costs Associated with the Software and Data Security Concerns are Major Challenges to the Growth of the Market
The high installation cost of robots is still a major concern for many companies which acts as a hindrance to the growth of the market. Although the companies benefit from the transition of repetitive, labor-intensive, and mundane tasks from humans to robots the costs associated with the robots as well as the software discourage them to make the investment.
Also, even though the software is applicable across various industries for executing a variety of tasks it can’t be considered a turnkey solution, and hence without other supporting tools and strategies will result in a longer period for the return on investment which is a challenge to the growth of the market.
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Key Topics Covered in the Report
- Snapshot of the Global Robotics Software Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Robotics Software Market
- Historic Growth of the Overall Global Robotics Software Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Robotics Software Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Robotics Software Market
- Future Market Forecast and Growth Rates of the Total Global Robotics Software Market and by Segments
- Market Size of Fiber Type / End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Robotics Software Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Players Mentioned in the report
- ABB Ltd.
- Clearpath Robotics
- NVIDIA Corporation
- CloudMinds Technology, Inc.
- Liquid Robotics, Inc.
- Brain Corporation
- AIBrain, Inc.
- Furhat Corporation
- Neurala, Inc.
- IBM Corporation
Notable Emerging Companies Mentioned in the Report
- Realtime Robotics, Inc.
- HAL Robotics
- Vyorius
- Quale Infotech
- Anscer Robotics
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Robot Manufacturers
- Robotics Software Developers
- Software and Application Developers for Robotics Industry
- Third-party Service and Maintenance Providers
- Investors and Venture Capitalists in the Robot and Robotic Software Industry
- Market Research & Consulting Firms
- Start-ups & Incumbents in Robotics Industry
- Company Research and Development Institutes
- Government & Regulatory Authorities
- Commercial and Industrial Robots Manufacturers
- Commercial and Industrial Robots Product Assemblers
- Commercial and Industrial Robots Component suppliers
- Raw Material Suppliers for Commercial and Industrial Robots
- Potential Investors in Commercial and Industrial Robots Companies
- Value Added Resellers of Robots
- Industrial OEMs of Commercial and Industrial Robots
- Industrial Automation Solutions Providers
- Robotics Industry Associations
- Robotics Research Groups
- Government Ministries of Electronics
- Government Ministries of Heavy Industries
- Regulatory Organizations for Robots
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below: -
Global Robotics Software Market: Ken Research
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