Press release
Robot Software Market Report 2024: Strategies And Recent Developments
Robot Software Market
The Business Research Company offers in-depth market insights through Robot Software Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The robot software market size has grown exponentially in recent years. It will grow from $6.23 billion in 2023 to $8.07 billion in 2024 at a compound annual growth rate (CAGR) of 29.6%. The growth in the historic period can be attributed to growth in industrial automation, increased use of robotics in manufacturing, advances in robot programming languages, adoption of collaborative robots (cobots), demand for robot simulation and visualization software.
The robot software market size is expected to see exponential growth in the next few years. It will grow to $23.05 billion in 2028 at a compound annual growth rate (CAGR) of 30.0%. The growth in the forecast period can be attributed to integration of artificial intelligence in robot software, expansion of robot operating systems (ros), adoption of cloud-based robot software, growth in service robotics and personal robots, increased use of robot software in healthcare and logistics. Major trends in the forecast period include simulation-based robot training, open-source robot software development, integration of augmented reality (ar) in robot software, focus on human-robot collaboration and interface design, real-time monitoring and remote control of robots.
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Market Segmentation:
The robot software market covered in this report is segmented -
1) By Software Type: Recognition Software, Data Management and Analysis Software, Communication Management Software, Simulation Software, Predictive Maintenance Software
2) By Robot Type: Industrial Robots, Service Robots
3) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
4) By Deployment Model: On-Premises, On-Demand
5) By Industry Vertical: Manufacturing, Healthcare, Aerospace and Defense, Media and Entertainment, Logistics, Other Industry Verticals
Major Driver - The Automation Revolution, Smes Fueling Robot Software Market Expansion
The rapid adoption of robot software by small and medium enterprises (SMEs) is expected to propel the growth of the robot software market going forward. Small and medium enterprises refer to a company employing a medium number of people and having a small or intermediate capital investment portfolio. In recent years, many small-to-medium-sized enterprises are increasingly focusing on automation by adopting robots for their business operations to reduce labor and energy costs, which increases the need for robot software to program robots to carry out SME functions. For instance, in 2021, according to the HowToRobot.com study, in the next 3 years, robots will be a feasible option for more than 50% of small and medium enterprises (SMEs). Therefore, the rapid adoption of robot software by SMEs is driving the growth of te robot software market growth.
Competitive Landscape:
Major companies operating in the robot software market report are Asea Brown Boveri, AIBrain Inc, Brain Corp, CloudMinds Technologies Inc, Energid Technologies Corporation, Furhat Robotics, H2O. ai Inc, IBM Corporation, Liquid Robotics Inc, NVIDIA Corporation, Neurala Inc, Clearpath Robotics Inc, Oxbotica, Teradyne Inc, RoboGroup T. E. K. Ltd., Fanuc Corp., Universal Robots, Rethink Robotics Inc., Hypertherm Inc., Denso Corporation, Bionic Robotics GmbH, Kawasaki Robotics Inc., Toshiba Machine Co. Ltd., Omron Corporation, Staubli International AG, KUKA Midea Group, Robotnik Automation S. L. L., Intelitek Inc., Yaskawa Electric Corp.
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Top Trend - Technological Advancement Drives Innovation In The Robot Software Market
Technological advancement is the key trend gaining popularity in the robot software market. Major companies operating in the robot software market are focused on developing technologically advanced products that could provide better solutions and strengthen their position in the market. For instance, in April 2022, ABB Robotics, a Switzerland-based company operating in robot software, launched High-Speed Alignment Software, an advanced robot software that works on Visual Serving technology for electronics assembly applications. Visual Serving technology uses image data as feedback to the robot system that operates in a closed external motion control loop to give higher accuracy in operation. This software uses one or more cameras along with a computer vision system to control the position of the robot's devices and increases working efficiencies, such as productivity by 70% and accuracy by 50% for electronics assembly applications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Robot Software Market Characteristics
3. Robot Software Market Trends And Strategies
4. Robot Software Market - Macro Economic Scenario
5. Robot Software Market Size And Growth
…..
27. Robot Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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