Robotic Software
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How Large Will the Robotic Software Market Size By 2025?
In recent times, the market size for robotic software has seen significant expansion. Forecasts predict that it will rise from a value of $17.93 billion in 2024 to reach $22.53 billion by 2025, with a compound annual growth rate (CAGR) of 25.7%. Factors contributing to this historic growth include the widespread adoption of robots across various sectors, the need for precision in activities like surgical procedures, advancements in technology like artificial intelligence and machine learning, a reduction in the cost of robotic workstations, and an increase in the speed and productivity of robots.
How Big Is the Robotic Software Market Size Expected to Grow by 2029?
In the upcoming years, the robotic software market is projected to expand considerably and skyrocket to a value of $55.57 billion by 2029, with a compound annual growth rate (CAGR) of 25.3%. This growth during the forecast period can be credited to the surging demand for automation solutions across diverse sectors, the incorporation of sophisticated robotic solutions powered by cutting-edge software, and the development of new application areas for robotics such as logistics, healthcare, and consumer services. There is also a growing demand for specialized software to bolster these applications and a persistent emphasis on improving human-robot collaboration and safety features in robotic systems. Significant trends for the forecast period include the merging of artificial intelligence (AI) and machine learning (ML), the emergence of collaborative robots or cobots equipped with upgraded software, the uptake of the robotics-as-a-service (RaaS) model, and an increased focus on interoperability and standardization in robot software.
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Which Key Market Drivers Powering Robotic Software Market Expansion and Growth?
The expansion of the robotic software market is anticipated to be driven by the increasing utilization of automation across various sectors. Automation leverages technology to produce goods and services with limited human intervention. It not only diminishes operational costs but enhances efficiency, cuts labor charges, reduces errors, and maximizes the use of resources, leading to its elevated adoption. Robotic software acts as a facilitator for this adoption, offering scalable, cost-efficient, and easy-to-use solutions for automating routine tasks and processes, thereby boosting operational efficiency, agility, and a competitive edge in the present digital economy. For example, in January 2022, the State of Process Automation Report 2022 by Camunda, a German open-source platform, found that a remarkable 82% of the surveyed 600 IT professionals from Europe and North America considered process automation as a higher priority for their organizations than the previous year. Thus, the escalating adoption of automation in disparate sectors is fuelling the growth of the robotic software market.
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Which Fast-Growing Trends Are Poised to Disrupt the Robotic Software Market?
Leading businesses within the robotic software industry are concentrating their efforts on creating cutting-edge technologies such as visual servoing technology, in a bid to secure a competitive advantage. This technology is a method in robotics and computer vision where visual information from a camera is used to control the movement of a robotic system. ABB Robotics, a Swiss automation firm, introduced their High-Speed Alignment software in April 2022. This trailblazing software solution is set to transform the speed and precision of electronic assembly. ABB’s High-Speed Alignment software sets the pace with its capacity to increase the speed of 6-axis robots by 70% and precision by 50%. This new software not only significantly shortens time-to-market but also improves the accuracy standards. By employing Visual Servoing technology, the High-Speed Alignment software allows robots to reach target positions for alignment assignments with an incredible precision of 0.01 to 0.02 millimeters.
What Are the Emerging Segments in the Robotic Software Market?
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
Subsegments:
1) By Industrial Robot: Articulated Robots, SCARA Robots, Cartesian Robots, Collaborative Robots (Cobots), Delta Robots
2) By Service Robot: Professional Service Robots, Personal Service Robots
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Who Are the Global Leaders in the Robotic Software Market?
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
Which are the Top Profitable Regional Markets for the Robotic Software Industry?
North America was the largest region in the robotic software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the robotic software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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