The increasing demand for automation and involvement of robotic devices is providing new opportunities to the global robot software market.
Covid-19 Impact & Market Status
The COVID-19 situation has severely impacted almost all the industrial and business sectors. De to lockdown, many industries had to stop their work as there was the unavailability of laborers, infrastructure, transportation, and much more. To cope with this situation many measures were taken and the most beneficial solution came with the investment in the internet of things and artificial intelligence. The robot software market generated with advanced technologies helped various potential companies to start their work from remote locations. With this, many others sectors including the healthcare department was able to continue its operation.
Data Management and Recognition robot software models are expected to increase the CAGR of the robot software market.
Today most companies are dependent on a vast variety of data as their input. It includes mostly unstructured data that needs to be processed and stored properly so that it can be retrieved and processed when required. This is a crucial and complex task as unstructured data show varying patterns that cannot be completely predicted. Hence, data management robotic software platforms are the urgent requirement that can gather all relevant unstructured data and process them according to the preprocessed data. This reduces manual efforts and increases productivity. Hence, data management and analysis tasks are done efficiently using the robot software platforms that automate various tasks and store the data accordingly.
Artificial Intelligence and Machine Learning have helped a lot in the data recognition field and in collaboration with the internet of things it has resulted in the development of various platforms, e.g., interviewing and meeting scheduling software platforms.
The increasing use of various advanced technologies like the internet of things is driving the robot software market.
The growing need for industrial automation has led to the development of robot software. Various software devices are developed to ease the development process. The current requirement is automation in most of the tasks and techniques like data generation, monitoring, analysis, prediction, and much more. For this, various tools and techniques are required to generate a platform that has the required capability to do things precisely and at a fast rate. This brings forward the most suitable solution. These technologies are widely used in almost all domains so that everything can be done effectively and efficiently. These technologies have provided a different vision for the development and growth of the industrial sector and increased its market value.
The market value of global robot software market is estimated to reach close to 33.26 Billion USD until 2028 at an annualized growth rate of 34.74% through the forecast span.
The robot software market has its root in almost all sectors including agriculture, banking, healthcare, defense, education, and much more. Every field requires effective software platforms that will help them to develop and achieve their goals efficiently. For this, robotic devices help in the fast delivery of messages, high productivity, data security, database management, predictive analytics, and much more. In this way, an organization can prepare itself beforehand to face any kind of uncertainty.
Robot software is commonly used in IT, Manufacturing, Automotive sector to reduce labour cost. This helps various industries to work on other subtasks as the repetitive procedures are handled by the robotic software devices that deal with the generation and alteration of code depending on the training model. For this, proper and sufficient training models are required, only then the device or software platform can be tested.
Apart from automation in the IT industries, the robot software market has its roots in various other industries including manufacturing and packaging industries like foods and beverages, cosmetics, and much more. The robotic software platforms help to control the machines that generate and manufacture the goods. They control the mainframe of the industries and help in the proper regulation and development of software connections and networking. In this way, a proper setup is made that helps in the coordination and maintenance of these machines. This way, various machines can be organized and the work can be coordinated properly by connecting them with their servers and updating them through the robot software platforms.
Also, various machines can work parallelly that get commands from single or distributed robot software platforms. This helps in maintaining data records and allocation of resources to a particular machine that eliminates the chances of deadlock or starvation. Hence, productivity is increased as the resources are shared most effectively.
Though these platforms come with inbuilt security measures, the cloud platform is having various security issues due to open networking with external devices that provide a gateway to cyber-attacks. This can cause data loss or data corruption that may lead to privacy issues with the company. Hence, security is one of the major concerns when we deal with the robot software market without any backup option. To provide high-end security, it should collaborate with other technology that can strengthen its security like a firewall.
Apart from this restriction, it is widely used in healthcare centers as it helps in the precise diagnosis of various fatal diseases like cancer and helps in its treatment. This also helps in laser treatment of various diseases like tumors. Hence, robot software platforms are essential when it comes to diagnosis, analysis, and predictive analysis of certain diseases as it uses various high-end technologies for better result.
The major players in global robot software market are Brain, ABB, International Business Machines, NVIDIA, Liquid Robotics, Albrain, H2O.ai, Energid Technologies, Furhat Robotics, Oxbotica, IBM, Microsoft, Neurala, Epson Robotics, iRobot, and CloudMinds Technology among others.
Latest Innovations in the Global Robot Software Market: a Snapshot
- Various potential companies like Microsoft Corp., NVIDIA, IBM Corp., are trying their best to utilize the robotic software platforms in the best way to increase the CAGR by the end of the forecast period.
Robot Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||33.26 Billion USD|
|Growth Rate||CAGR of 34.74% during 2021-2028|
|Segment Covered||Software Type, Robot Type, Deployment, Enterprise, End-User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Brain, ABB, International Business Machines, NVIDIA, Liquid Robotics, Albrain, H2O.ai, Energid Technologies, Furhat Robotics, Oxbotica, IBM, Microsoft, Neurala, Epson Robotics, iRobot, and CloudMinds Technology among others.|
Key Segments of the Global Robot Software Market
Software Type Overview, 2018-2028 (USD Billion)
- Recognition Software
- Simulation Software
- Predictive Maintenance Software
- Data Management and Analysis Software
- Communication Management Software
Robot Type Overview, 2018-2028 (USD Billion)
- Industrial Robots
- Service Robots
Deployment Overview, 2018-2028 (USD Billion)
Enterprise Size Overview, 2018-2028 (USD Billion)
- Small Enterprises
- Medium Enterprises
- Large Enterprises
End-User Vertical Overview, 2018-2028 (USD Billion)
- Media and Entertainment
- IT and Telecommunications
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa