3 Key Insights on US$ 15 Bn Opportunity in the Global Robotics Software Market: Ken Research

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.

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/business-research/global-robotics-software-market-outlook-2028/

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: -

https://www.kenresearch.com/business-research/global-robotics-software-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.