New Study From StrategyR Highlights A $11.3 Billion Global Market For Robotic Software Platforms By 2026

SAN FRANCISCO, Oct. 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Robotic Software Platforms - Global Market Trajectory & Analytics." The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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FACTS AT A GLANCE

Edition: 7;

Released: October 2021

Executive Pool: 13952

Companies: 55 - Players covered include ABB Group; Aethon, Inc.; Cyberbotics Ltd.; Energid Technologies Corporation; EZ-Robot Inc.; FANUC Corporation; Honda Motor Co., Ltd.; iRobot Corporation; KUKA AG; Neurala, Inc.; Siemens AG; The Orocos Project and Others.

Coverage: All major geographies and key segments

Segments: Type (Original Equipment Manufacturers (OEMs), Third-Party Vendors)

Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Robotic Software Platforms Market to Reach US$11.3 Billion by the Year 2026

Robotic software represents a system that is enabled by artificial intelligence (AI) and used for guiding different tasks or functions performed by robots. The software enables functions for increasing safety, motion, intelligence and productivity of operations. It gives robots the ability to feel, see, learn and also maintain security. Rapid adoption of robotics by the industrial sector creates strong demand growth scenario for robotic software. With a stupendous increase in use of robots across various sectors, demand for robot software would also increase significantly. Rapid developments in the areas of IoT, AI and other software technologies led to a major spurt in the global market for robot software in the recent years. Sensor miniaturization would also drive increased adoption of robotic technologies across various industries going forward. Mobile robot platforms in particular employ complex sensors. Miniaturization of sensors would lead to reduction in costs of both sensors and mobile robotic platforms, which would lead to even higher adoption across new applications such as delivery, logistics and surveillance among others.

Amid the COVID-19 crisis, the global market for Robotic Software Platforms estimated at US$8.5 Billion in the year 2020, is projected to reach a revised size of US$11.3 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Original Equipment Manufacturers (OEMs), one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$8.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Third-Party Vendors segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 31.4% share of the global Robotic Software Platforms market.

The U.S. Market is Estimated at $2.7 Billion in 2021, While China is Forecast to Reach $1.4 Billion by 2026

The Robotic Software Platforms market in the U.S. is estimated at US$2.7 Billion in the year 2021. The country currently accounts for a 30.56% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.4 Billion in the year 2026 trailing a CAGR of 6.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period. Significant opportunities for growth, for developers of robot software, are expected in the Asia-Pacific market going forward. Major economies that would contribute to such growth are China, South Korea, India and Singapore where adoption of robotic technologies across industries is increasing tremendously. China for instance, increased focus on robotics and AI. Recently, a three year AI implementation program was announced by the National Development and Reform Commission of China, for acceleration of advanced technologies adoption by all critical industries which would enable the country to become the global superpower by the end of this decade.

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About Global Industry Analysts, Inc. & StrategyR™

Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali

Director, Corporate Communications

Global Industry Analysts, Inc.

Phone: 1-408-528-9966

www.StrategyR.com

Email: [email protected]

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SOURCE Global Industry Analysts, Inc.

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