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This Robot Software Market has experienced critical growth and development trends lately as robotic automation technologies are the reason behind their incorporation in multiple organizations. As industries shun human touch by equiping operations with machins to beef up efficiency and improve production quality, software services for robots have seen demand soar. The best beneficial moves is the switching system from robot software elements to machine-like software technologies. For regular frameworks dealing with robots historically there were pre-set rules they could follow, but software is now changing towards sophisticated software that enables robots to learn on the go.
Due to the expeditious growth of machine learning and artificially intelligent algorithms, the trade patterns of robotic software now play an increasingly important role. There are inventions here that give robots the authority to scrutinize facts, search for options and carry out tasks with higher autonomy. The area of contemporary opportunities that robots can take full advantage to their current circumstances and change with their surroundings gives an added advantage especially in the assembly, joint factors, and medical industries. Companies of all types and sizes are investing heavily in the intelligent-computer-empowered robot software, which is proving to be an obstacle to remaining competitive, in a rapidly developing business environment.
Cobots, the cohorts of the regular robots, are also bearing the mark of the long-run evolution in the market. While differing to what some call the modern robot that work by themselves, cobots can assure both people's efficiency and safety in work places. The ease of robot software development with little to no effort has seen a tremendous skyrocket, and integrating them with conventional systems has become a more common thing than one could ever imagine. It represents a changing perception with robots, as they stop being viewed as independent machines, instead to be team players with human partners, that would eradicate the initial human-robot uneasy working atmosphere.
In addition, digital connectivity and therefore synchronization of robots as common practice is increasingly being seen among robots. Interconnection of things has become a face of robot market which fuses robot communication among each other and related devices seamlessly. This system of integrated environment functions by way of information gathering, continuous auditing and performance analysis and automated remedial activities which would improve the framework performance. With business operation gradually adapting to the Industry 4.0 standard, it is inevitable that the share of IoT with robots software will rise and become much more common.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increasing adoption of robots for commercial and industrial applications |
| Market Dynamics | Increase in demand for advanced solutions for manufacturers |
Robot software Market Highlights:
Robot Software Market Overview
Robot Software Market size is projected to grow from USD 8.3950 Billion in 2024 to USD 48.041 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 24.37% during the forecast period (2024 - 2032). Additionally, the market size for robot software was valued at USD 6.5433 billion in 2023.
Increasing the productivity of an organization by reducing human errors and enhancing the quality of work are the key market drivers enhancing market growth.
Figure 1: Robot Software Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Robot Software Market Trends
Increasing adoption of cloud-based software is driving the market growth
Market CAGR for robot software services is driven by the rising number of adoption of software services. Cloud-based robot software is gaining popularity as it offers several benefits, such as flexibility, scalability, and cost-effectiveness. Cloud-based software allows robots to store and access data remotely, enabling them to collaborate and share information with other robots and devices. The adoption of cloud-based software is expected to fuel the growth of the robot software market.
The integration of Artificial Intelligence in robot software is gaining momentum. AI-based robots can learn from their experiences, improve their performance, and make decisions based on the data they gather. The use of AI in robot software is increasing the efficiency and accuracy of robots, thereby driving the market's growth
The rise in Industry 4.0, also known as the 4th Industrial Revolution, is defined by integrating technologies such as IoT, AI, and robotics to create a smart and interconnected manufacturing environment. Robot software is critical in Industry 4.0 by enabling robots to communicate with other machines and devices, gather and analyze data, and make real-time decisions. The rise of Industry 4.0 is expected to drive the demand for robot software in the coming years. Robotics and automation are being used to streamline processes, reduce costs, and improve manufacturing, healthcare, logistics, and agriculture efficiency. It has created a significant demand for robot software that can be customized and tailored to specific applications.
In addition, developing the usage of robots in various industries impacts the market's growth, as customizing robotics provides an opportunity to enhance a business process. Robots also provide a freely scalable platform that can efficiently be operational throughout the day and offer maximum flexibility driving the Robot Software market revenue.
Robot Software Market Segment Insights
Robot Software Vertical Insights
The Robot Software market segmentation, based on vertical, includes BFSI, retail & e-commerce, government, healthcare, logistics, manufacturing, and IT & telecommunication. The manufacturing category dominated the market. It is due to the increasing adoption of robotics and automation in manufacturing processes provides many chances for collaborative robots and their integration in all industries.
Robot Software Type Insights
The Robot Software market segmentation, based on type, includes industrial robots and service robots. Industrial robots dominated the market. With the development of artificial intelligence and machine learning algorithms, robot software is becoming more advanced and capable of performing more complex tasks. With the entrance of technologies like the Industrial Internet of Things (IIoT) and Industry 4.0, robot adoption is increasing across the manufacturing industries.
Robot Software Deployment Insights
The Robot Software market segmentation, based on deployment, includes on-premise and on-cloud. The on-cloud segment dominated the market. Organizations can avoid many hardware, software, data, maintenance, and staff costs. Organizations need solutions that reduce issues and increase operational efficiency as competitive pressures increase.
Robot Software Organization Size Insights
The Robot Software market segmentation, based on organization size, includes small and medium-sized, and large enterprises. Small and medium-sized enterprises dominated the market. An increase in the adoption of robot software by SMEs to reduce labor and energy costs and replace manual workers with a robotic automation system propels the market's growth. Furthermore, robots help various industries save money on different types of energy sources and increase the life span of the machinery in factories, propelling the market's growth.
Figure 2: Robot Software Market, by Organization Size, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Robot Software Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American robot software market will dominate due to the presence of major robot software providers and the adoption of automation in various industries. Adopting automation and robot software in some regions may be hindered by high costs, lack of skilled labor, and concerns about job displacement.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: ROBOT SOFTWARE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Robot Software market accounts for the second-largest market share due to the adoption of Industry 4.0 technologies and the growing demand for automation in manufacturing and logistics. Further, the German Robot Software market held the largest market share, and the UK Robot Software market was the rapid-growing market in the European region.
The Asia-Pacific Robot Software Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the growing demand for automation in the automotive, electronics, and healthcare industries. Moreover, China’s Robot Software market held the largest market share, and the Indian Robot Software market was the fastest-growing market in the Asia-Pacific region.
For instance, most of the vendors in the robot software market have adopted various strategies such as acquisitions, agreements, collaborations, new product launches, and expansions to enhance the growth of the robot software market.
Robot Software Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Robot Software market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Robot Software industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Robot Software industry to benefit clients and increase the market sector. The Robot Software industry has offered some of the most significant medical advantages in recent years. Major players in the Robot Software market, including IBM Corporation ABB Ltd., Cloudminds, Neurala, iRobot, Microsoft Corporation, Furhat Robotics, and others, are attempting to increase market demand by investing in research and development operations.
Alphabet Inc. is an American multinational technology company headquartered in Mountain View, California. Alphabet is the world's third-largest technology company and one of the world's most valuable companies. Alphabet Inc. was prompted by a desire to make the Google business "cleaner and more accountable" while allowing greater autonomy to group organizations that operate in businesses other than Internet services. In July 2021, Alphabet Inc., a parent company of Google, launched a design to introduce software for robotics that could be used in a broad range of industries. The company is introducing software tools designed to make industrial robots easier to utilise, cheap, and more adjustable so that more people can use them to develop new products, businesses, and services.
Qisda Corporation, established in 1984 and located in Taiwan, is a technology corporation with businesses spanning the IT industry, medical business, smart solutions, and network communication business. In May 2022, Qisda launched that the company has partnered with MOV.AI to power the autonomous mobile robots. The company will leverage the robotics engine platform to provide its customers with automation and logistics robots that handle dangerous jobs.
Key Companies in the Robot Software market include
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IBM Corporation
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ABB Ltd
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Nvidia Corporation
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Cloudminds
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Brain Corporation
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Aibrain
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Furhat robotics
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iRobot
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Epson Robotics
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Microsoft Corporation
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Energid technologies
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Oxbotica
Robot Software Industry Developments
August 2021:ABB disclosed the acquisition of ASTI Mobile Robotics Group, an autonomous mobile robot constructor with a varied portfolio spanning all major applications supported by the company's software suite. It will broaden ABB's robotics and computerization portfolio, allowing it to provide a complete portfolio for the next generation of flexible automation.
October 2021:Singapore's Defence Science and Technology Agency (DSTA) has declared its partnership with Philadelphia-based Ghost Robotics to identify use cases involving legged robots for security, defense, and humanitarian applications. The companies will test and develop mobile robotic systems and the associated technology enablers that can be deployed in challenging urban terrain and harsh environments.
Robot Software Market Segmentation
Robot Software Vertical Outlook
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BFSI
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Retail & e-commerce
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Government
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Healthcare
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Logistics
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Manufacturing
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IT & Telecommunication
Robot Software Robot Type Outlook
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Industrial Robots
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Service Robots
Robot Software Deployment Outlook
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On-premise
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On-cloud
Robot Software Organization Size Outlook
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Small and Medium Size Enterprises
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Large Enterprises
Robot Software Region Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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