Market Size of Robotic Software Platforms Industry
| 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 |
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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.
