Robot Software Market – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2030
Overview
Robot Software Market was valued at US$ 17.98 Bn. in 2023 and it is expected to reach US$ 97.44 Bn. by 2030 at a CAGR of 27.3% during the forecast period.
Robot Software Market Overview:
Robotics is the study of robots, as well as their building, design, operation, and application. A robot is an electromechanical device that is designed to follow a set of instructions in order to complete activities without the assistance or involvement of humans. Once programmed, robots may repeat needed activities in exactly the same way. In 2017, Asia Pacific was the largest market for robots, and it is anticipated to stay so during the projection period. North America plays a significant role in the world robotics industry and is expected to grow at a faster rate in the future years.
Robots were once largely used to conduct a series of activities that were repetitive in nature, but as robotics technology progresses, robots have begun to play an increasingly essential role in everyone's lives in every profession. As a result, non-industrial robots represented for 70% of the worldwide robotics market in 2017, up from 64% in 2017. The increased adoption of robotics technology in the consumer, enterprise, healthcare, military, unmanned aerial vehicles (UAVs), and autonomous vehicles segments is fueling this growth.
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Due to rising labour costs and a shortage of competent workers, labor-intensive industries are increasingly adopting automation. Job performance and productivity are improving as robots become better able to engage with humans. As a result, robots technology is being employed for research in areas where people are unable to reach, agriculture, construction/mining, entertainment, medical, logistics, personal security, and military. However, frequent high cost of manufacturing and maintenance, as well as high procurement costs, are proving to be a hurdle to the market's expansion.
COVID-19's Impact on the Robot Software Market
The COVID-19 pandemic affected almost every industry in the planet. Due to government-issued shutdown restrictions in various nations, manufacturing, healthcare, and other businesses were allowed to operate with a limited number of staff during the pandemic. The COVID-19 had a minimal impact on Robot Software market growth in the first half of 2023. Furthermore, industries' productivity plummeted as a result of the lockout. As a result, enterprises all over the world are expanding their manufacturing models by including an automated robot to preserve total productivity. The market for robot software is predicted to rise due to the increased deployment of industry and service robots.
Top Influencing Factors
Increased demand for automation & security in businesses
The market has grown because of an increase in demand for automation and safety in organizations that perform hazardous tasks such as chemical plants and others. Furthermore, the market is rising owing to the increasing adoption of cutting-edge technologies like the Industrial Internet of Things (IIoT), which is critical to the smart factory idea, as well as Industry 4.0 & industrial robots.
Furthermore, firms are now using robots in dangerous and hazardous locations due to strict safety laws. Previously, automation of industrial processes was limited to the automotive industry. Robot software is now being used in sectors such as healthcare, defence and security, aerospace, and food and beverage.
SMEs are quickly embracing robot software to cut labour and energy costs.
The market is growing due to a rise in the adoption of robot software by various SMEs as well as other micro industries in order to boost their market growth and market share. Furthermore, the market is expected to develop due to an increase in the adoption of robot software by SMEs to reduce labor and energy expenses, as well as to substitute manual labors with a robotic automation system.
For the past few years, the cost of robot work cells has reduced by 5-10% every year, as well as the speed and throughput of robots has increased dramatically; as a result, there has been an increase in robot adoption, which in turn drives market growth. Furthermore, robots assist various businesses in saving money on various types of energy sources and also extending the life of factory machinery, which is fueling market expansion. These, robots are built to perform in a wide range of temperatures and are less fragile than human operators, which is a big reason why firms throughout the world are embracing these robots. As a result, the company's growth is accelerated.
The global robot software market is rising owing to a rise in the demand for automation & safety in companies & the quick adoption of robot software by SMEs to reduce labour & energy costs. Furthermore, the increasing use of robots in a variety of industries has a beneficial impact on market growth. However, market growth is expected to be hindered by issues like high installation costs & an increase in virus attacks on software. Growing usage of IoT & AI-based robotics in businesses, on the other hand, is likely to deliver lucrative prospects for market expansion throughout the forecast period.
Manufacturing led the worldwide robot software market by application in 2023, and it is expected to continue to do during the forecast period. The shortage of personnel in the industrial sector, as well as the growing need for automation, are two main drivers driving the adoption of robot software in this industry. However, due to progressive government investment, practical maturity, & growing usage of robot software in the aerospace & defence industry, the aerospace & defence segment is predicted to develop at the fastest rate above the forecast period.
Regional Analysis:
Asia-Pacific led the robot software market in the year 2023, & it is likely to continue to do so over the forecast period. This is due to the presence of well-established manufacturing businesses in developing markets such As china, Japan, and South Korea, which focus on improving current solutions. Furthermore, the LAMEA & APAC regions are likely to grow significantly during the forecast period, owed to increased local government investments & the emergence of new robot software start-ups in countries such as china, India, Thailand, & others.
The objective of the report is to present a comprehensive analysis of the Robot Software Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Robot Software Market dynamics, structure by analyzing the Market segments and project the Robot Software Market size. Clear representation of competitive analysis of key players by Operation, price, financial position, Operation portfolio, growth strategies, and regional presence in the Robot Software Market make the report investor’s guide.
Robot Software Market Scope: Inquiry Before Buying
| Robot Software Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | US $ 17.98 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 27.3% | Market Size in 2030: | US $ 97.44 Bn. |
| Segments Covered: | by Software Type | Recognition Software Data Management and Analysis Software Communication Management Software Simulation Software Predictive Maintenance Software |
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| by Robot Type | Industrial Robots Service Robots |
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| by Enterprise Size | Large Enterprises Small & Medium Enterprises |
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| by Industry Vertical | Manufacturing Healthcare Aerospace & Defense Media & Entertainment Logistics Others |
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Robot Software Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. ABB (Switzerland)
2. AIBrain (US)
3. Brain Corp (US)
4. CloudMinds (US)
5. Energid Technologies (US)
6. Furhat Robotics (Sweden)
7. H2O.ai (US)
8. IBM (US)
9. Liquid Robotics (US)
10. Neurala (US)
11. NVIDIA (US)
12. Oxbotica (UK)
Frequently Asked Questions:
1] What segments are covered in the Robot Software Market report?
Ans. The segments covered in the Robot Software Market report are based on the Type, Platform, and Application.
2] Which region is expected to hold the highest share in the Robot Software Market?
Ans. The North American region is expected to hold the highest share in the Robot Software Market.
3] What is the market size of the Robot Software Market by 2030?
Ans. The market size of the Robot Software Market by 2030 is expected to reach at US$ 97.44 Bn.
4] What is the forecast period for the Robot Software Market?
Ans. The forecast period for the Robot Software Market is 2024-2030.
5] What was the market size of the Robot Software Market in 2023?
Ans. The market size of the Robot Software Market in 2023 was valued at US$ 17.98 Bn.