Overview and Scope
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.
Sizing and Forecast
The robotic software market size has grown exponentially in recent years. It will grow from $14.34 billion in 2023 to $17.93 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. The growth in the historic period can be attributed to the increasing adoption of robots in various industries, demand for precision and accuracy in tasks such as surgical procedures, advancements in robotics technology, such as artificial intelligence and machine learning, the decreasing cost of robot work cells, and the increasing speed and throughput of robots.
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.
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Segmentation & Regional Insights
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
North America was the largest region in the robotic software market in 2023. 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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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The robotic software market report table of contents includes:
1. Executive Summary
2. Robotic Software Market Characteristics
3. Robotic Software Market Trends And Strategies
4. Robotic Software Market – Macro Economic Scenario
5. Global Robotic Software Market Size and Growth
….
32. Global Robotic Software Market Competitive Benchmarking
33. Global Robotic Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Robotic Software Market
35. Robotic Software Market Future Outlook and Potential Analysis
36. Appendix
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