Mobile Robotics Software Market to exceed $3.5 Billion by 2024
Published Date: August 18, 2017 Authors: Preeti Wadhwani, Smriti Loomba
Mobile Robotics Software Market size is estimated to surpass USD 3.5 billion by 2024; according to a new research report by Global Market Insights, Inc.
Technological advancements focused towards improving the environment safety while working with robots is stimulating the demand for mobile robotics software market share over the forecast timeline. The building blocks of robot such as sensors, 3D printing, AI software and open source robotic operating systems (ROS) improves the human machine interaction. These technologies facilitate improved work safety for humans working around robots.
Favorable government norms and increasing investments from robotic manufacturers will support the demand for software solutions for customized applications during the study period. Cost reduction in hardware component is achieved due to emergence of high quality, low cost sensors and other electronic parts. Availability of low cost hardware resulting in burgeoning number of startups based on mobile robotic technology.
The increasing demand from applications such as commercial UAVs, portable vacuum cleaners, delivery robots and telepresence robots will escalate the demand for software solutions.
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Browse key industry insights spread across 210 pages with 190 market data tables & 10 figures & charts from the report, “Mobile Robotics Software Market Size By Product (Aerial (UAV), Ground, Marine), By Application (Professional [Logistics, Healthcare, Inspection & Maintenance, Defense, Agriculture], Personal [Household, Entertainment]) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Ground mobile robotics software market size was valued over USD 500 million in 2016 and is expected to continue its dominance during the forecast period. Increasing use of these robots in defense and security application will support growth for this product in coming years.
Aerial robots or unmanned aerial vehicle market is projected to show highest CAGR of 19% owing to rising demand from logistics, and agriculture sectors. Increasing number of agriculture drones supported by government funding & subsidiaries will drive software industry during the forecast period.
UAVs reduce product delivery time for these companies that results in increased efficiency and higher profits. Increasing investment in startups for developing commercial drones is expected to boost the UAV market. For instance, in 2016, Precision Hawk raised USD 19 million from venture funding to focus their efforts towards UAVs for commercial purpose.
Professional applications will account for more than more 70% of total revenue in 2016 owing to increasing demand from healthcare and defense sectors. Integrating robots with navigation control software will attribute to the growth of mobile robotics software market in healthcare applications.
Growth in logistics application can be credited to rising demand for robotic management system for warehouse management. Investment from E-commerce companies for developing autonomous robots for warehouse management systems will drive the demand for industry. For instance, Amazon purchased Kiva systems to include mobile robots in their warehouses.
In 2016, North America mobile robotics software market size was valued over USD 430 million. The robust growth in region is attributed to high penetration of robots in U.S. The demand will escalate owing to increasing use of robots for household applications such floor & vacuum cleaning and lawn moving.
APAC market will exhibit highest CAGR over 19% during the forecast period supported by rising awareness about mobile robotics. Regional growth is attributed to increasing investment in developing UAVs for agricultural applications and rising number of startups in these countries. Rising disposable income and increasing electronic product in countries such as India and China will strengthen the penetration of mobile robotics software in Asia Pacific region.
Mobile robotics software market is consolidated with few players contributing to more than 50% of the market share. Strategic alliance and geographical expansion are the major strategies adopted by the competitors. For instance, in 2017 Universal Robots opened new offices in India and Germany to increase their geographical presence.
Mobile robotics software market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2013 to 2024, for the following segments:
Mobile Robotics Software Market by Product
Mobile Robotics Software Market by Application
- Inspection & maintenance
The above information is provided on a regional basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Africa