Robot Software Market Valuation Worth USD 47.24 Billion by 2030, Registering at a CAGR of 27.3% From 2021 to 2030
Report provides comprehensive analysis of changing market trends, key segments, top investment pockets, value chain, regional scenario, & competitive landscape.
PORTLAND, OR , UNITED STATES, UNITED STATES, February 16, 2023 /EINPresswire.com/ — 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. Increase in adoption of IoT and AI-based robots in industries creates new opportunities in the coming years.
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.
Key industry players such as – 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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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 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.
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.
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Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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