Robot Software Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4232
Robot Software Market size is witnessing a substantial growth from 2019 to 2025 due to rapid developments in artificial intelligence (AI), Internet of Things, and other software technologies. The robot software is used to perform a given task using certain commands such as data management, robot process control, and pathfinding. The growth of automation particularly in the manufacturing sector has created high growth opportunities in the robot software market. The industries are making a transition towards newer technologies to improve the manufacturing process and product quality and reduce the required time and costs, which will ensue the integration of several software to enable machines to work autonomously. Automated factories need to be highly configurable and flexible for making changes in the entire production line and processes. For instance, IBM Robotic Process Automation is highly effective in managing repetitive tasks such as managing billing system, workflow collaboration, and data capture.
The use of AI, machine learning, and other cognitive technologies provides opportunities to robots to perform functions, such as learning, planning, reasoning, logic, and perception, to effectively process massive quantities of data. AI enables robots to possess an interleaved set of capabilities, which include self-awareness, creativity as well as emotional knowledge. The utilization of AI in robotics augments human potential by increasing productivity and is witnessing a transition from simple reasoning to more human-like cognitive abilities. The technology is currently witnessing increasing penetration in areas of applications, which include manufacturing, healthcare, financial services, energy, transport, government as well as management consulting agencies.
The robot software market will be driven by industry 4.0 as the manufacturing sector makes a transition to smart factories. According to a report by the International Federation of Robotics, in 2017 the robot sales increased by 30%. Also, the robot density per 10,000 employees has become 74 globally. Industrial robots have been rapidly adopted in recent years for multiple applications such as welding, painting, assembly, and material removal. The advantages of these robots, such as minimum material waste, better weld quality, consistent paint coats, and reduction in time, are increasing their use across industries.
The growing adoption of robotics technologies in logistics will augment the growth of the robot software market for efficient task management. Leading e-commerce players, such as Amazon, are deploying robots in their workflows for efficient logistics and supply chain management. The company has around 200,000 robot units worldwide to increase warehouse automation processes. Amazon, in June 2019, announced two new robots to improve operations at its warehouse facilities. This is bringing in significant developments in the industry to provide required changes and flexibility to enable them to execute multiple functions, handle items of various sizes & shapes, recognize the changes in objects, etc.
Service robots are also widely adopted across several sectors, such as medical, defense, mining, and agriculture, propelling the robot software market. In addition, the retail sector has started deploying them to enhance the customer experience. These robots are programmed to speak several languages to facilitate easy interaction and provide customers with information based on their customer journey and purchase history. Service robots are also being used for surveying customers to seek reviews, helping retailers to understand customer perceptions. The utilization of machine learning technology in robotics enables the analysis of the significant volume of data.
Recognition software, predictive maintenance software, and data management software are in huge demand in the robot software market. The predictive maintenance software is expected to witness significant adoption to monitor operational conditions, minimize the possibility of downtime, perform analytics, and store historical data in the cloud. This enables the servicing of machines used in manufacturing processes based on the actual wear and tear rather than scheduled visits for service, which can significantly reduce maintenance costs. The ability of these software to predict the failure of parts and equipment is expected to increase their adoption by a number of manufacturers.
One of the major factors hindering the growth of the robot software market is the higher costs associated with the deployment of automation technologies. The process automation in manufacturing can be expensive as it requires considerable upgradations in sensors and software. Moreover, these systems require proper training of people to manage them efficiently. The existing sensors, for instance, require high reliability to provide meaningful data by monitoring conditions where the sensors require frequent upgrades to be used seamlessly in the automation process.
Asia Pacific is expected to dominate the robot software market owing to the presence of the huge manufacturing sector. South Korea holds the highest robot density in the manufacturing sector due to the installation of a large number of robots particularly in automotive and electronics & electrical industries. Singapore will also have a significant influence on the industry in Asia Pacific as the country had 488 robots per 10,000 employees in 2016 with 90% of robots in the electronics industry.
IBM Corporation, NVIDIA, iRobot Corporation, Oxbotica, Brain Corp, Furhat Robotics, ABB, Epson Robotics, Microsoft Corporation, and Cloudminds are some of the major players in the robot software market. The high growth potential is enabling technology providers to develop advanced platforms such as cloud robotics technology. In October 2018, Google announced that the company will be launching the cloud robotics platform for developers providing robust and secure connectivity between the cloud and robots. Developers will be able to access AI and data management capabilities of Google. The company is also aiming to provide custom integration and improvements in the flexibility of industrial automation processes. Another player NVIDIA provides AI-based platform for robotics applications. The Isaac Software Development Kit (SDK) by the company provides a comprehensive set of tools, frameworks, and libraries, allowing the development of robotics software and algorithms.
Robot software market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2025 for the following segments:
- Recognition Software
- Simulation Software
- Predictive Maintenance Software
- Data Management Software
- Communication Management Software
By Robot Type
- IT & Telecommunication
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
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