Global Robot Software Market to Expand CAGR of 27.31% by 2030

Introduction

Robot software is primarily a group of coded directions on a robot. This direction is provided to a company at a particular time when this guidance is required to make decisions in specific circumstances. Other than this, robot software offers numerous advantages to companies like escalating the company's efficiency, plummeting human mistakes, automating the complete procedure, and improving the quality of the work. Robot software is engaged in the healthcare, defense, aerospace, automotive, and infrastructure industries. Robot software is adopted in various companies in their production units to perform automated tasks like data analysis, filtering, triangulation, locating, pathfinding, research, and others. In addition, the most important feature that drives the robot software market trends takes account of the budding requirement for automation and safety in companies and the rapid espousal of robot software by small & medium enterprises to decrease labor and energy expenditure.

Market Dynamics

Increased Automation and Safety in Companies and Adoption of Robot Software to Drive the Global Robot Software Market

Increased need for automation and safety in businesses with hazardous occupations, such as chemical factories, is driving the market growth. Moreover, the market is developing due to the increased adoption of cutting-edge technologies such as the Industrial Internet of Things (IIoT), which is integral to the smart factory concept and is paired with Industry 4.0. The use of industrial robots to do dangerous or repetitive tasks with a high degree of accuracy in place of human laborers is also gaining popularity on the market.

In addition, several chemicals, automotive, and other industries are leaning toward adopting robot software for dangerous tasks, tolerating the toxic gases and potent fumes associated with manual welding, and working in areas of manufacturing plants with flammable vapors. In addition, because of stringent safety regulations, firms now use robots in hazardous and dangerous environments. Before the present, only the car sector automated its manufacturing processes. Software robots are currently utilized in healthcare, defense and security, aerospace, and food and beverage industries.

In addition, an increase in the use of robot software by SMBs and other micro businesses to promote their market growth and increase their market share is driving the market growth. In addition, the market is anticipated to develop as a consequence of SME use of robot software to reduce labor and energy costs and to replace manual labor with robotic automation systems. As small and medium-sized enterprises (SMEs) have limited resources, they constantly seek solutions that will help them save money. Consequently, these businesses are fast adopting robot software to reduce human labor and energy costs to replace manual workers with a robotic automation system, thereby driving market expansion.

Rapid Implementation of IoT and AI-based Robotic Software among Industries to Create Global Robot Software Market Opportunities

Increased adoption of IoT and AI-based robots in industries to prevent hazards in manufacturing and healthcare and improve corporate infrastructure presents a significant opportunity for the market. In addition, by merging IoT, AI, and robots, it can handle and analyze vast amounts of data to make well-informed real-time decisions using AI models that have been trained.

Instead of exchanging data with the cloud, the robots execute decisions directly on the onboard processor of the robot system. In addition, IoT robots increase safety measures for workers working in hazardous environments in various industries, including mining, oil & gas, and others. Shortly, the demand for AI-based robots will increase because robots with IoT and AI models can accurately identify and predict machine faults.

Regional Insights

The Asia Pacific is forecasted to command the regional market, expanding at a CAGR of 28.11%. The Asia-Pacific will witness tremendous growth due to the rising need for automated work across numerous industries and developing and developed countries' rapid adoption of cutting-edge technology. As a result of solid automation expansion and active research and development in several nations, including Japan, China, India, Australia, and Taiwan, Asia-Pacific dominates the robotics market. China and Japan have witnessed robust growth in the mobile robot industry over the past few years. The increase in demand is attributable to the rising need for robots for security and surveillance. In the Asia-Pacific region, robotics is utilized by numerous industries, including aerospace, defense, automotive, healthcare, energy, mining, and agriculture.

Europe will likely hold USD 6,697 million, expanding at a CAGR of 24.22% during the forecast period. In Europe, the traditional industrial usage of robots is giving way to robotics applications in everyday life, such as the robot coworker and companion in hospitals, transit, cities, space, submarine, and fire control, among other contexts. As a result of the rise of technology and automation, robots improve the quality of life in homes, offices, and other public places.

Due to the automobile industry's substantial spending, Europe has many robots installed, with Germany having the most. It is projected that the economies of Spain, France, and Italy will adopt robotics at the slowest rates due to their adherence to stringent regulations. Europe is the global market leader for service robotics. Due to the increasing security needs of its people and the need to monitor everyday situations, Europe employs robots predominantly in the security industry. Mobile robots that can be remotely operated contribute to the safety of bomb disposal. Robotics is utilized extensively in numerous industries, including space exploration, search and rescue, manufacturing, defense, and security.

Key Highlights

• The global robot software market had a revenue holding of USD 5,395 million in 2021. It is expected to reach USD 47,397 million by 2030, growing at a CAGR of 27.31% during the forecast period (2022-2030).
• Based on the software type, the data management & analysis software section is projected to have the most significant shareholding, growing at a CAGR of 25.61%.
• Based on the robot type, the industrial robot segment is predicted to hold the largest share, growing at a CAGR of 26.31%.
• Based on the enterprise size, the large enterprise section will likely have the highest shareholding, growing at a CAGR of 26.61%.
• Based on the industry vertical, the manufacturing section is predicted to have the largest market share, growing at a CAGR of 26.71%.
• Based on regional analysis, the Asia Pacific is forecasted to command the regional market, expanding at a CAGR of 28.11%.

Competitive Players

Competitive Landscape

• ABB Ltd.
• Brain Corporation
• Furhat Robotics
• International Business Machines Corporation
• AIbrain Inc.
• Liquid Robotics, Inc
• ai
• NVIDIA Corporation
• Energid Technologies Corporation
• CloudMinds Technology Inc.

Recent Developments

Market News

• In January 2022, the acquisition of Misty Robotics Inc. was announced by Furhat Robotics. This would help Furhat Robotics enter the US market and expand social robots.
• In April 2022, the European demonstration of Inventory Scan was announced by Brain Corporation. This is generally a commanding new data confine accomplice that will be fitted to Tennant’s autonomous floor scrubbers to autonomously scan and account for important detail on in-store inventory.
• In June 2022, NVIDIA Nemo was launched by NVIDIA Corporation to build state-of-the-art conversational AI models and Triton Inference Serverfor its Sensory Cloud

Segmentation

Global Robot Software Market Segmentation

By Software Type

• Recognition Software
• Simulation Software
• Predictive Software
• Data Management
• Analysis Software
• Communication Management Software

By Robot Type

• Industrial Robots
• Service Robots

By Enterprise Size

• Large Enterprise
• Small and Medium Enterprises

By Industry Vertical

• Manufacturing
• Healthcare
• Aerospace and Defense
• Media and Entertainment
• Logistics
• Others

By Region

• Asia-Pacific
• Europe
• North America
• LAMEA