Robot Software Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
Robot Software Market Analysis
The Robot Software Market is expected to register a CAGR of 16.5% during the forecast period. Robot software is an AI-enabled system that guides the robot's functions. It is a set of coded instructions that executes the robot's functions.
- Robot software is an AI-enabled system that controls the functions a robot performs. It is an assortment of coded instructions that execute a robot's functions. Robot software enables functions for intelligence, motion, safety, and productivity and gives the power to get the robots to see, feel, learn, and maintain security. These characteristics and benefits allow users to instantly and easily get their robots up and running at optimum productivity.
- The major factors driving the robot software market are the adoption of artificial intelligence, enhanced speed, improved quality, reduced labor cost, increased accuracy, and production scalability.
- Rising adoption of robots across various end-user industries such as manufacturing, electrical and electronics, automotive, food & beverage, and process controls are seen as primary growth drivers for the robotics software platforms market. The growing utilization of robots in varied end-user industries helps meet customized demand while simultaneously helping lower labor costs.
- In addition, increasing the usage of robots in several industries positively impacts the market's growth, as implementing robotics provides an opportunity to optimize a business process. Robots also provide an easily scalable platform that can be operational throughout the day with total efficiency and offer maximum flexibility. Growing adoption of robotics across various end-user industries such as food & beverage, manufacturing, electrical and electronics, automotive, and process controls are seen as fundamental growth drivers for the robotics software platforms market over the forecast period. The increasing automation in the manufacturing and healthcare sectors provides many opportunities for collaborative robots and their integration in all industries.
- However, data security and increasing cyberattacks are hindering the market growth. Also, increasing robot crimes are impeding the adoption of robots in various sectors, thus, reducing the robot software adoption prospects. Also, the lack of skilled expertise is another major restraining factors for this market.
- COVID-19 provided a solid push to expand the usage of robot software and improve robotics research. During the pandemic, various companies have installed robots to disinfect areas and deliver food to quarantined people. Some companies designed robot software to help people track COVID-19 in their communities.
Robot Software Industry Segments
Robot software is a set of coded commands or instructions that tell a mechanical device and electronic system, known as a robot, what tasks to perform. Robot software is used to perform autonomous tasks with the use of technologies like Artificial Intelligence. Robot software enables functions for enhanced intelligence, motion, safety, and productivity, and gives the power to make the robots see, feel, learn, and maintain safety.
The Robot Software Market is segmented by Software Type (Recognition Software, Simulation Software, Predictive Maintenance Software, Data Management and Analysis Software, Communication Management Software), by Robot Type (Industrial Robots, Service Robots), by Deployment (On-Premises, On-Demand), By Enterprise Size (Small and Medium Enterprises, Large Enterprises), by End-user Vertical (Automotive, Retail, and E-commerce, Government and Defense, Healthcare, Transportation and Logistics, Manufacturing, IT and Telecommunications) and Geography.
|By Software Type|
|Predictive Maintenance Software|
|Data Management and Analysis Software|
|Communication Management Software|
|By Robot Type|
|By Enterprise Size|
|Small and Medium Enterprises|
|By End-user Vertical|
|Retail and E-commerce|
|Government and Defense|
|Transportation and Logistics|
|IT and Telecommunications|
|Other End-user Verticals|
|Middle East and Africa|
Robot Software Market Trends
This section covers the major market trends shaping the Robot Software Market according to our research experts:
Industrial Robots to Have the Majority Application
- With the advent of technologies like the Industrial Internet of Things (IIoT), vital to the smart factory concept coupled with Industry 4.0, industrial robot adoption is increasing across the manufacturing industries. An industrial robot is generally used in place of human laborers to perform dangerous or repetitive tasks with high accuracy.
- To make the robots perform efficiently, robot software is essential to operate the robots according to the needs of the manufacturers. This software is an extension of human capability. It reflects the human vision that gets keener with every generation and every technological leap. With the enormous growth of robotics in the industrial sector, the need for robotic software is also increasing substantially.
- According to Association for Advancing Automation, Industrial robots ordered in North America in 2021 were 39,708 units, 14% up from the previous high in 2017. Moreover, the widespread adoption of automated technology is raising the demand for robots in the automotive industry. For instance, in Q4 2021, automotive-related customers purchased 39% of the total orders, as per Association for Advancing Automation.
- The major factors propelling the growth of the robot software market are the adoption of artificial intelligence, labor cost reduction, increased accuracy, improved speed, enhanced quality, and production scalability. The robot software market is expected to have enormous opportunities in the small, medium, and large-scale industries.
- In March 2021, Accenture acquired Pollux, an industrial robotics and automation solutions provider headquartered in Joinville, Brazil. The acquisition will expand Accenture’s capabilities for clients in consumer goods, pharmaceutical and automotive industries seeking to make their factories, plants, and supply chains more productive, safe, and sustainable.
To understand key trends, Download Sample Report
The Asia Pacific Region Expected to Register Significant Growth
- The Asia Pacific region is expected to exhibit significant growth opportunities over the forecast period. The major economies contributing to the growth of the robot software market in this region are China, Japan, Singapore, South Korea, and India. The countries in this region are increasingly adopting robotics across industries.
- The Chinese market is expected to increase its expenditure on AI and robotics, as the country has categorically prioritized its focus on AI and robotics in its 13th five-year plans. China's National Development and Reform Commission has announced an AI three-year implementation program expected to accelerate the adoption of advanced technologies to help the country become a superpower by 2030.
- Also, the governments in these regions are providing easy loan facilities to Small and Medium-sized Enterprises (SMEs) and large enterprises with a start-up culture.
- Furthermore, the manufacturing industry growth of the emerging economies, such as China and India, to manufacture goods and export these cost-efficient products across the globe, is increasing the development of industrial robots in the region, which in turn is expected to increase the market for robot software in the region.
- According to IFR, 73% of all newly deployed robots in 2021 were installed in Asia. 354,000 units were shipped in 2021, up by 33% compared to 2020. The electronics industry adopted by far the most units (123,800 installations), followed by strong demand from the automotive industry (72,600 installations) and the metal and machinery industry (36,400 installations).
- Companies in the region are looking to develop innovative solutions to remain competitive in the market. For instance, in May 2022, Amazon announced that it would open a new consumer robotics software development center in India to develop solutions for the world. The India center will help Amazon's International robotics division, which launched its first robot Astro in 2021.
To understand geography trends, Download Sample Report
Robot Software Market Competitor Analysis
The Robot Software Market is moderately fragmented owing to the penetration of robotics globally with applications in various industries. The robotic software companies are constantly focusing on developing advanced technologies that would enhance the robotic processes and help the manufacturing industries to intensify their process.
- August 2021 - ABB announced the acquisition of ASTI Mobile Robotics Group, an autonomous mobile robot manufacturer with a diverse portfolio spanning all major applications supported by the company's software suite. This will broaden ABB's robotics and automation portfolio, allowing it to provide a comprehensive portfolio for the next generation of flexible automation.
- July 2021 - Alphabet Inc., a parent company of Google, launched a project to develop software for robotics that could be used in a wide range of industries. The company is developing software tools designed to make industrial robots easier to use, less costly, and more flexible so that more people can use them to create new products, businesses, and services.
Robot Software Market Top Players
CloudMinds Technology, Inc.
Liquid Robotics, Inc.
*Disclaimer: Major Players sorted in no particular order
Robot Software Market Recent Developments
- May 2022 - Qisda announced that the company has partnered with MOV.AI to power its autonomous mobile robots. The company will leverage the robotics engine platform to provide its customers with automation and logistics robots that handle dangerous jobs.
- October 2021 - Singapore's Defence Science and Technology Agency (DSTA) has announced 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.
- August 2021 - Fomento Económico Mexicano (FEMSA), one of the largest convenience store operators and food and beverage distributors in the Latin American region, is investing a large amount through its corporate venture fund into Swyft, Inc., a player in the robotic and software-powered marketplace. This strategic partnership is expected to facilitate future-scale deployment of Swyft's software and robotics technology, which provides unattended delivery for brands, merchants, and last-mile providers.
Robot Software Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise in need for automation and safety in organizations
5.1.2 Rapid adoption of robot software by SMEs to reduce labor and energy cost
5.2 Market Challenges
5.2.1 High cost of implementation and rise in malware attacks on the software
6. MARKET SEGMENTATION
6.1 By Software Type
6.1.1 Recognition Software
6.1.2 Simulation Software
6.1.3 Predictive Maintenance Software
6.1.4 Data Management and Analysis Software
6.1.5 Communication Management Software
6.2 By Robot Type
6.2.1 Industrial Robots
6.2.2 Service Robots
6.3 By Deployment
6.4 By Enterprise Size
6.4.1 Small and Medium Enterprises
6.4.2 Large Enterprises
6.5 By End-user Vertical
6.5.2 Retail and E-commerce
6.5.3 Government and Defense
6.5.5 Transportation and Logistics
6.5.7 IT and Telecommunications
6.5.8 Other End-user Verticals
6.6 By Geography
6.6.1 North America
6.6.3 Asia Pacific
6.6.4 Latin America
6.6.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
*List Not Exhaustive
7.1 Company Profiles
7.1.1 ABB Ltd.
7.1.2 Clearpath Robotics
7.1.3 NVIDIA Corporation
7.1.4 CloudMinds Technology, Inc.
7.1.5 Liquid Robotics, Inc.
7.1.6 Brain Corporation
7.1.7 AIBrain, Inc.
7.1.8 Furhat Corporation
7.1.9 Neurala, Inc.
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Robot Software Market Research FAQs
What is the study period of this market?
The Robot Software Market is studied from 2018 - 2028.
What is the growth rate of Robot Software Market?
The Robot Software Market is growing at a CAGR of 16.5% over the next 5 years.
Which region has highest growth rate in Robot Software Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Robot Software Market?
North America holds highest share in 2021.
Who are the key players in Robot Software Market?
ABB Ltd., NVIDIA Corporation, CloudMinds Technology, Inc., Liquid Robotics, Inc., Brain Corporation are the major companies operating in Robot Software Market.
Robot Software Industry Reports
In-depth industry statistics and market share insights of the Robot Software Market sector for 2020, 2021, and 2022. The Robot Software Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Robot Software Market report PDF.