Press release
Robotic Software Market Share, Size, Growth Rate, Trends Analysis And Forecast To 2033
Robotic Software Market
The robotic software market size is expected to see exponential growth in the next few years. It will grow to $44.31 billion in 2028 at a compound annual growth rate (CAGR) of 25.4%. The growth in the forecast period can be attributed to increasing demand for automation solutions across various industries, the integration of advanced robotic solutions enabled by innovative software, the emergence of new application areas for robotics, such as logistics, healthcare, and consumer services, demand for specialized software to support these applications, and continued focus on enhancing human-robot collaboration and safety features in robotic systems. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning (ML), the rise of collaborative robots or cobots, robots equipped with advanced software, adoption of robotics-as-a-service (RaaS) models, and growing focus on interoperability and standardization in robot software.
Market Overview -
Robotic software refers to technology that automates repetitive, rule-based processes by simulating human interactions with digital systems and applications. It aims to streamline company operations, boost efficiency, eliminate human error, and free up human workers for more complicated and strategic duties.
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The Growing Adoption Of Automation Across Industries Is Driving The Robotic Software Market
The growing adoption of automation across industries is expected to propel the growth of the robotic software market going forward. Automation refers to using technologies to manufacture and provide goods and services with minimal human involvement. The adoption of automation is on the rise because it helps reduce operational costs by improving efficiency, reducing labor expenses, minimizing errors, and optimizing resource utilization. Robotic software serves as a catalyst for automation adoption by offering organizations a scalable, cost-effective, and user-friendly solution to automate repetitive tasks and processes, driving operational efficiency, agility, and competitive advantage in today's digital economy. For instance, in January 2022, according to the State of Process Automation Report 2022 by Camunda, a Germany-based open-source platform, more than four in five respondents (82%) of the surveyed 600 IT professionals from North America and Europe said process automation is a greater priority for their organization than it was last year. Therefore, the growing adoption of automation across industries is driving the growth of the robotic software market.
Competitive Landscape -
Major companies operating in the robotic software market are ABB Ltd., CloudMinds Technology Inc., NVIDIA Corporation, International Business Machines Corporation (IBM), Liquid Robotics Inc., Clearpath Robotics, Universal Robots AS, Dassault Systèmes, Aibrain Inc., Furhat Robotics, Energid Technologies Corporation, H2O.ai, Brain Corporation, Rockwell Automation, Anduril Industries, Boston Dynamics, FANUC Corporation, Yaskawa Electric Corporation, Keenon Robotics, Energy Robotics, Vecna Robotics, Rapid Robotics, ANYbotics, FORT Robotics Inc., Wandelbots GmbH
Developing Advanced Technologies To Increase Speed And Accuracy
Major companies operating in the robotic software market are focusing on developing advanced technologies, such as visual servoing technology, to gain a competitive edge in the market. Visual servoing technology refers to a technique used in robotics and computer vision where visual feedback from a camera is utilized to control the motion of a robotic system. For instance, in April 2022, ABB Robotics, a Switzerland-based automation company, launched High-Speed Alignment software, an innovative software solution aimed at revolutionizing speed and precision in electronics assembly. ABB's High Speed Alignment software stands out as the initial offering, allowing manufacturers to enhance the velocity of 6-axis robots by 70% and precision by 50%. This advancement considerably reduces time-to-market while elevating accuracy standards. Leveraging Visual Servoing technology, the High-Speed Alignment software empowers robots to achieve target positions for alignment tasks with remarkable accuracy levels ranging from 0.01 to 0.02 millimeters.
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Key Segments -
The robotic software market covered in this report is segmented -
1) By Robot Type: Industrial Robot, Service Robot
2) By Software Type: Recognition software, Simulation Software, Predictive Maintenance Software, Data Management And Analysis Software, Communication Management Software
3) By Enterprise Size: Large Enterprise, Small And Medium Enterprises (SMEs)
4) By Vertical: Banking, Financial Services, And Insurance (BFSI), Retail And eCommerce, Government And Defense, Healthcare And Life Sciences, Transportation And Logistics, Manufacturing, Telecommunications And IT, Academia And Research, Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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