Robot Software Market Covid-19 Analysis Receives a Rapid Boost in Economy due to High Emerging Demands by Forecast
Market Scenario
As per the assessment by Market Research Future Reports (MRFR), the global robot software market is anticipated to value USD 13.48 billion, recording at a CAGR of 44.45% during the forecast period. The increasing adoption of robots in various industries is the most substantial factor influencing the global robot software market 2020. There has been a growing adoption for commercial and industrial application which is propelling the market at a fast pace. Besides, the rise in adoption of robotics by small and medium enterprises is another factor resulting in market growth. Moreover, the introduction of industry 4.0 is estimated to make a significant contribution to enlarging the market. Also, the increasing demand for low-cost and products is another factor leading to market expansion. However, the security issues related to DDoS threats on the data of robotics is a major restraining factor leading to market expansion.
The outbreak of coronavirus has resulted in a halt in daily business operations. The research performed by MRFR tracks the aftermath of the COVID-19 pandemic. Also, a precise study of factors augmenting and impeding the market in the post-COVID-19 period has been evaluated. We will provide COVID-19 impact analysis with the report.
Market Segmentation
The worldwide robot software market can be classified on the grounds of robot type, deployment, software type, vertical, organization size, and region.
Based on the robot type, the worldwide robot software market can be segmented into service robots and industrial robots.
Based on deployment, the worldwide robot software market can be segmented into on-premise and on-cloud.
Based on software type, the worldwide robot software market can be segmented into simulation software, recognition software, predictive maintenance software, communication management software, and data management software.
Based on vertical, the worldwide robot software market can be segmented into retail & e-commerce, BFSI, government, logistics, healthcare, IT & telecommunication, manufacturing, and others.
Based on the organization, the worldwide robot software market can be segmented into small & medium size enterprises (SMEs), and large enterprises.
Based on the region, the worldwide robot software market can be segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Regional Analysis
The regional study of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been carried out. As per the analysis, the market is dominated by North America. Among all nations of North America, the US, Canada, and Mexico are likely to make the most significant contribution in market expansion. The US is likely to make the maximum contribution to expanding the market, followed by Canada and Mexico. Another factor responsible for expanding the market is the existence of various notable market competitors in the region. Besides, North America is an early and fast adopter of advanced technology.
On the other hand, the APAC region is likely to grow at the fastest speed during the forecast period. Developing economies like Japan, China, and South Korea are projected to make the most significant contribution during the forecast period. Moreover, the growing adoption of robots by the logistics industries and the manufacturing industries is speculated to propel the market growth during the forecast period.
The outbreak of COVID-19 is likely to change the market mechanism of several regions. Several markets have been influenced significantly due to the observation of nationwide lockdown in various countries
Key Players
The notable market players of the global market are IBM Corporation, Oxbotica, ABB Ltd, Energid Technologies, Nvidia Corporation, Microsoft Corporation, Cloudminds, Epson Robotics, Brain Corporation, iRobot, Aibrain, Neurala and Furhat robotics.
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