Robot Software Market Size, Share & Trends Analysis Report 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 & Medium Enterprises), By Industry Vertical (Manufacturing, Healthcare, Aerospace and Defense, Media and Entertainment, Logistics, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global robot software market size was valued at 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).

Robot software can be described as a set of coded instructions on a robot. This guides a set of steps that must be taken in specific circumstances. In addition, companies can get assistance from the robot software as it provides many advantages, like escalating the company's efficiency, plummeting human mistakes, automating the complete procedure, and improving the quality of the work. Robot software is employed in diverse industries like healthcare, defense, aerospace, automotive, and infrastructure. It is a set of programmed inputs specified to the robot to implement a straightforward task and accomplish the preferred output. Several companies install and implement robot software to automate jobs, decrease operating expenses, boost production, lessen operational threats, advance internal progressions, and do other significant work.

Additionally, the primary aspect that drives the robot software market trends comprises growing demand for automation and safety in companies and rapid espousal of robot software by Small and Medium Enterprises to decrease labor and energy expenditure. On the other hand, the boost in the practice of robots in some industries positively impacts the robot software market growth. Nevertheless, factors like high accomplishment prices and an increase in malware attacks on the software are anticipated to hinder the market growth.

Market Dynamics

Global Robot Software Market Drivers

Increased Automation and Safety in Companies and Adoption of Robot Software

The market is expanding owing to the demand for automation and safety in organizations for dangerous jobs such as chemical plants and others. Additionally, the market is growing due to the increasing adoption of cutting-edge technologies like the Industrial Internet of Things (IIoT), which is essential to the idea of a smart factory combined with Industry 4.0. Industrial robots are also being employed to undertake hazardous or repetitive activities with a high degree of accuracy in place of human laborers, which is also gaining favor in the market.

Additionally, several chemical, automotive, and other businesses are leaning toward adopting robot software for risky tasks, tolerating the toxic gases and potent fumes associated with manual welding, and working in areas of manufacturing plants that have flammable vapors. Additionally, due to strict safety rules, businesses are now using robots in hazardous and dangerous locations. Prior until now, the automotive industry was the only industry that automated manufacturing processes. Robot software is currently used in healthcare, defense and security, aerospace, and food and beverage sectors.

Additionally, a rise in robot software use by various SMEs and other micro companies to boost their market growth and expand their market share is propelling the market's expansion. The demand is also expected to develop due to SMEs increasingly adopting robot software to cut labor and energy expenses and replace manual workers with robotic automation systems. As SMEs have a limited budget, they always search for alternatives that would help them to save costs. Hence, these enterprises are rapidly employing robot software to decrease the expenses related to human labor and energy to substitute manual workers with a robotic automation system pushing the market growth.

Global Robot Software Market Restraints

Implementation costs are incredibly high

Installing and implementing robot software necessitates high costs, a major restraining factor in the global robot software market. Additionally, preliminary investment and the maintenance cost of utilizing robotic systems are increased because of the assimilation of high-quality hardware with a competent software control system. Furthermore, SMEs sometimes hesitate to deploy robotic software because of the high cost of implementation and maintenance.

Global Robot Software Market Opportunities

Rapid Implementation of IoT and AI-based Robotic Software among Industries

The increase in IoT and AI-based robot adoption in sectors to prevent manufacturing and healthcare risks and improve the businesses' infrastructure is a significant potential opportunity for the market. Additionally, combining IoT, AI, and robots can handle and analyze vast volumes of data to arrive at well-informed real-time judgments using trained AI models.

The robots don't send data back and forth to the cloud; instead, they directly execute choices on the onboard processor built into the robot system. Additionally, IoT robots bring more safety measures for personnel operating in hazardous conditions in various industries, including mining, oil & gas, and others. The need for AI-based robots will rise soon because robots with IoT and AI models can detect and predict machine breakdowns with greater precision.

Regional Analysis

Region-wise, the global robot software market is segmented across North America, Europe, Asia-Pacific, and LAMEA.

The Asia-Pacific and Europe will dominate the regional market

The Asia Pacific is forecasted to command the regional market, expanding at a CAGR of 28.11%. Due to the increased demand for automated work across many industries and the quick uptake of cutting-edge technology by developing and developed countries, Asia-Pacific will experience tremendous growth. Asia-Pacific dominates the robotics market due to rapid automation growth and active research and development in several nations, including Japan, China, India, Australia, and Taiwan. Over the past few years, the mobile robots sector has seen tremendous expansion in China and Japan. The increased requirement for robots for security and surveillance is what's behind the jump in demand. Many industries, including aerospace, defense, automotive, healthcare, energy, mining, and agriculture, use robotics in the Asia-Pacific region.

Europe will likely hold USD 6,697 million, expanding at a CAGR of 24.22% during the forecast period. The conventional industrial use of robots in Europe is giving way to robotics applications in daily life, such as the robot coworker and companion in hospitals, transit, cities, space, undersea, fire control, and other settings. Due to the rise in modernity and automation, robots improve the quality of life in homes, offices, and other public spaces.

Due to significant expenditures made by the automobile industry, Europe has many robots installed, with Germany having the most installations. The economies of Spain, France, and Italy are anticipated to adopt robotics at the slowest rates due to the strict rules these nations must adhere to. In the market for service robotics, Europe is a market leader. Due to the rising security requirements of its population and the necessity to monitor everyday situations, Europe uses robots mainly in the security sector. Mobile robots that can be controlled remotely contribute to safety during bomb disposal. Robotics is used extensively in space exploration, search and rescue operations, industry, defense, and security.

Segmental Analysis

The global robot software market is segmented by software type, robot type, enterprise size, industry vertical, and region.

Based on the software type, segments are recognition software, simulation software, predictive software, data management & analysis software, and communication management software.

The data management & analysis software section is projected to have the most significant shareholding, growing at a CAGR of 25.61%. This segment plays a significant role in robot software because it accumulates, assesses, and offers consequential visions of robots working in their surroundings. Additionally, this software boosts the effectiveness of the companies and industries, directly developing the robots' productivity and leading to market growth.

The recognition software section will hold the second-largest share. This robotic software is employed to recognize the industries' objects, patterns, and other environments. With the increasing significance of surveillance worldwide, the recognition software segment has experienced massive market growth.

Based on the robot type, the segments are industrial and service robots.

The industrial robot segment is predicted to hold the largest share, growing at a CAGR of 26.31%. Industrial robots are widely used for welding, painting, ironing, congregation, pick and place, palletizing, product scrutiny, and examining products with high fortitude, rapidity, and accuracy. A rise in demand for automation and speedy development in industrialization encourages the practice of industrial robots leading to market growth.

The service robot section will hold the second-largest share. Service robots help human beings do their job, particularly household responsibilities, which are filthy, tedious, secluded, hazardous, and monotonous. These robots are generally employed in sectors like banks, hospitals, and others. Service robots provide many advantages like usability, delivery of precise and superior services, trustworthiness, decreased operational costs, and human mistakes. Owing to this reason, the segment is expected to expand the market during the forecast period.

Based on the enterprise size, the segments are large enterprises and small & medium enterprises.

The large enterprise section will likely have the highest shareholding, growing at a CAGR of 26.61%. To maintain their position in the market, large enterprises always search for new ways to modify and improve their businesses efficiently. Hence, these enterprises are extensively employing robot software to boost their production with efficacy and continuous superiority. Due to this reason, the global robot software market will likely face massive growth during the forecast period.

The small & medium enterprise section will have the second-largest share. Small & medium enterprises play an essential role worldwide, especially in developing countries. These enterprises widely employ robot software to improve productivity and reduce costs. Besides this, robot software provides additional benefits like a lesser amount of time and effort for the coding and learning procedure that extensively contribute to the market growth.

Based on the industry vertical, the fragments are manufacturing, healthcare, aerospace and defense, media and entertainment, logistics, and others.

The manufacturing section is predicted to have the largest market share, growing at a CAGR of 26.71%. Manufacturing industries primarily employ robotic software to reduce cost and increase output, as this robotics is cost-effective, proficient, and harmless. An increase in labor wage forces the industries to select alternatives that lead to the market growth of software robotics. Other than this, new safety regulations, stricter emission necessities, and increased customer trends are growing the market.

The other section will hold the second-largest share. This segment includes industries like disaster management, foundry, infrastructure, and agriculture. In these sectors, governments are the major driving factor to market growth as governments employ robot software in these sectors.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

• In 2022- Furhat Robotics announced the acquirement of Misty Robotics Inc., enabling Furhat to penetrate the US market and additionally enlarge the expansion of social robots.
• In 2022- Brain Corporation announced the European demonstration of Inventory Scan, a commanding new data confine accomplice fitted to Tennant's autonomous floor scrubbers to autonomously scan and account for important detail on in-store inventory.
• In 2022- NVIDIA Corporation launched NVIDIA NeMo. This is a toolkit to build state-of-the-art conversational AI models and Triton Inference Serverfor its Sensory Cloud hybrid computing unit.