Robotic Software Platforms Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Robotic Software Platforms Market Analysis
The Robotic Software Platforms Market revenue is expected to grow at a CAGR of 5.0% over the next five years. Domestic robot is service robots that are becoming more popular for performing household activities such as floor cleaning, pool cleaning, lawn mowing, or medical and disinfecting.
- Increased labor safety concerns, automation needs, and rising labor & energy costs are significant factors driving the robot industry, thus, supporting the robotics software platforms market growth. The major factors driving the robot software platform market are adopting machine learning and artificial intelligence technologies to enhance speed, improved quality, reduced labor cost, increased accuracy, and production scalability.
- Government agencies and private players are collaborating and are looking to develop innovative solutions to remain competitive in the market. For Instance, Singapore's Defence Science and Technology Agency (DSTA) 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 get deployed in challenging urban terrain and harsh environments.
- However, data security and increasing cyberattacks are hindering the market growth. Also, increasing robotics crimes are impeding robotics adoption in various sectors, thus, reducing the robotics software adoption prospects. Also, the need for more skilled expertise is another major restraining factor for this market.
- Due to the Covid-19 pandemic, the disinfection and sanitation robots segment observed significant growth. Blue Ocean Robotics, Intellibot Robotics LLC, IRobot Corporation, Skytron, Bioquell, Ecovacs Robotics, Lumalier Corp, and Siemens are some key companies involved in developing disinfection and sanitation robots at the global level.
Robotic Software Platforms Market Trends
This section covers the major market trends shaping the Robotic Software Platforms Market according to our research experts:
Increasing adoption of Robots in Healthcare Industries
- The growing service robots adoption in medical applications is expected to support the industry growth over the forecast period, as consumers prefer robots for professional services. Critical healthcare applications use service robots for assistance in pill dispensing, surgeries, and precise needle placement. The ability of these robots to carry out repetitive and tedious nursing functions possesses potential growth opportunities for the robotics software platforms industry to standardize system integration.
- Robots in healthcare are equipped with AI that helps to identify, match, and distribute medicine to patients. For Instance, Medrobotics Corp stated that it had received FDA regulatory approval to commercialize the Flex Robotic System in the United States for robot-assisted visualization in general surgical, gynecological, and thoracic procedures.
- According to the International Federation of Robotics (IFR), The estimated annual industrial robot installations in Asia/Australia are expected to have the highest number of 370 units by the end of 2024. Artificial intelligence adoption, labor cost reduction, increased accuracy, improved speed, enhanced quality, and production scalability are the major factors propelling the robot software platform market growth. The robotic software platforms market is expected to have enormous opportunities in the small, medium, and large-scale industries.
Asia-Pacific is Expected to Register Significant Market Growth During the Forecast Period
- The Asia-Pacific region is expected to create significant growth opportunities over the next five years. The increasing manufacturing sectors across the country, such as China, Japan, Singapore, South Korea, and India, contribute to significant growth for the market.
- Key players in the market and regional government agencies are working on regional robotics development. For instance, Addverb Technologies and Reliance plan to build 5G robotics and battery systems and to use carbon fiber to build affordable robots.
- The growing robot adoption across various end-user industries such as manufacturing, automotive, and healthcare is primarily driving growth in the robotic simulation software market. The increasing utilization of robotics in varied end-user sectors helps meet customized demand.
- Furthermore, the manufacturing industry growth of 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. It, in turn, is expected to increase the market's growth in this region.
Robotic Software Platforms Industry Overview
The Robotic Software Platforms Market is moderately fragmented owing to the robotics penetration globally with applications in various industries. Robotic software companies such as ABB Ltd., AIBrain Inc., Brain Corporation, iRobot Corporation, and NVIDIA Corporation are constantly focusing on developing advanced technologies that would enhance the robotic processes and help the manufacturing industries to intensify their process.
January 2022 - Furhat Robotics, the Swedish company, acquired US-based Misty Robotics, creators of purpose-built social robots for developers.
August 2022 - Amazon and iRobot entered a definitive merger agreement under which Amazon will acquire iRobot.
Robotic Software Platforms Market Leaders
ABB Ltd.
AIBrain Inc.
Brain Corporation
iRobot Corporation
NVIDIA Corporation
*Disclaimer: Major Players sorted in no particular order
Robotic Software Platforms Market News
- September 2022 - ABB introduced the 'ABB Robotic Depalletizer,' a solution for complicated depalletizing activities in the logistics, e-commerce, healthcare, and consumer packaged goods industries. ABB's innovative solution uses machine vision software to instantly analyze a broad range of box types, allowing customers to effectively process a variety of loads with minimal engineering work and short set-up time.
- November 2022 - Brain Corp intends to build a third-generation AI autonomy platform to power the next-generation autonomous commercial robots. The first robots powered by Brain Corp's third-generation platform are planned to get deployed in late 2023 to early 2024.
- December 2022 - Deutsche Bank partnered with NVIDIA to accelerate AI and ML adoption in financial services.
Robotic Software Platforms Market Report - Table of Contents
1. INTRODUCTION
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 Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Automation Trends to Drive Growth
5.1.2 Increasing Government Investments in Robotics Research and Development
5.1.3 Rapid adoption of robot software by SMEs to reduce labor and energy cost
5.2 Market Restraints
5.2.1 High Cost of Deploying These Platforms in Industries
6. MARKET SEGMENTATION
6.1 By Robot Type
6.1.1 Industrial Robots
6.1.2 Service Robots
6.2 By Software Type
6.2.1 Communication Management Software
6.2.2 Data Management & Analysis Software
6.2.3 Predictive Maintenance Software
6.2.4 Recognition Software
6.2.5 Simulation Software
6.3 By End-User
6.3.1 Automotive
6.3.2 Retail and E-commerce
6.3.3 Government and Defense
6.3.4 Healthcare
6.3.5 Transportation and Logistics
6.3.6 Manufacturing
6.3.7 IT and Telecommunications
6.3.8 Other End-user Verticals
6.4 By Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ABB Ltd.
7.1.2 AIBrain Inc.
7.1.3 Brain Corporation
7.1.4 CloudMinds Technology Inc.
7.1.5 Cyberbotics Ltd.
7.1.6 Energid Technologies Corporation
7.1.7 FANUC Corporation
7.1.8 Furhat Robotics
7.1.9 IBM Corporation
7.1.10 iRobot Corporation
7.1.11 KUKA AG
7.1.12 NVIDIA Corporation
7.1.13 Neurala, Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Robotic Software Platforms Industry Segmentation
Robot software is a collection of programmed commands or instructions that inform a mechanical device and an electrical system, known as a robot, what tasks to perform. Robot software is used to perform autonomous activities.
The Robotic Software Platforms Market is segmented by robot type (industrial robots and service robots), by software type (communication management software, data management & analysis software, predictive maintenance software, recognition software, and simulation software), by end-user (automotive, retail and e-commerce, government and defense, healthcare, transportation and logistics, manufacturing, IT and telecommunications, and other end-users verticals) and by geography (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
The market sizes and forecasts are in terms of value (USD million) for all the above segments.
| By Robot Type | |
| Industrial Robots | |
| Service Robots |
| By Software Type | |
| Communication Management Software | |
| Data Management & Analysis Software | |
| Predictive Maintenance Software | |
| Recognition Software | |
| Simulation Software |
| By End-User | |
| Automotive | |
| Retail and E-commerce | |
| Government and Defense | |
| Healthcare | |
| Transportation and Logistics | |
| Manufacturing | |
| IT and Telecommunications | |
| Other End-user Verticals |
| By Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Robotic Software Platforms Market Research FAQs
What is the current Robotic Software Platforms Market size?
The Robotic Software Platforms Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Robotic Software Platforms Market?
ABB Ltd., AIBrain Inc., Brain Corporation, iRobot Corporation and NVIDIA Corporation are the major companies operating in the Robotic Software Platforms Market.
Which is the fastest growing region in Robotic Software Platforms Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Robotic Software Platforms Market?
In 2024, the Asia-Pacific accounts for the largest market share in Robotic Software Platforms Market.
What years does this Robotic Software Platforms Market cover?
The report covers the Robotic Software Platforms Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Robotic Software Platforms Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Robotic Software Platforms Industry Report
Statistics for the 2024 Robotic Software Platforms market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Robotic Software Platforms analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
