Robot Software Market
Robot Software Market - By Software Type, By Robot Type, By Enterprise Size, By Industry Vertical & Global Region - Market Size, Trends, Opportunity, Forecast 2021-2026Request Sample Request Discount
Robot software is the set of coded instructions or commands that enables the electronic system or mechanical device, together referred as a robot, to perform certain autonomous tasks. Specifically, it is the coded commands that tells a robot what tasks to perform by controlling its movement and actions. These tasks or activities includes assembling products, surgical operations, space missions, detecting and defusing bombs, product inspection, cleaning, and household chores. With the help of such robots, human efforts needed to perform complex works becomes precise and simpler. Hence, rising number of companies are showing interest as well as are investing on robots and robot software due to their benefits.
It has become a crucial component of industrial robotic system and plays a core role to allow industrial robots to do operations along with the accurate functionalities. These robot software are being used in various industries such as manufacturing and logistics, to share data as well as to complete other automated tasks such as locating, pathfinding, and data filtering.
COVID Impact Analysis
The COVID-19 epidemic has significantly pushed demand for the Robot Software. This is attributed to the rising shift of the companies towards usage of technology and upsurge in automation and digitalization trends among all the industry verticals. In addition, the pandemic has accelerated use of robotics and associated technologies. For instance, in Japan, according to Japan’s Cabinet Office, from January 2020 to August 2020, sales of industrial robots outperformed those of industrial machinery more generally. Also, as per the Japan Robot Association, the number of robots exported from the Japan rose at an annual rate of 13% in the second quarter of 2020.Hnce, upsurge in sales and purchase of robots during the COVID-19 pandemic has boosted demand for robot software.
Various countries around the globe have imposed a complete lockdown for more than two months as a result of the COVID-19 epidemic, which has had an impact on most of the industry verticals. However, the impact on the technology sector has been comparatively low. For instance, the manufacturing plants all across the world have been shut down, and automobile sales have plummeted. On the contrary, despite the downturn, the automation sector has witnessed significant growth. Moreover, there is surge in demand for automation in the pharmaceutical sector. Robots are being used to replace repetitive and manual tasks in the lab, such as pipetting and mixing.
On the other hand, several companies are launching new robot software products during the pandemic, further boosting growth of the market. For instance, in March 2021, Fuzzy Logic Robotics has launched Fuzzy Studio, a new, easy-to-use and universal software platform which reduces robotics programming costs.
Top Impacting Factors
Various factors such as surge in adoption of Internet of Things (IoT) and artificial intelligence (AI) along with the increasing need to reduce costs while maintaining quality in the industrial sector primarily boosts growth of the robot software market. In addition to this, increase in demand for automation as well as safety in organizations along with the extensive adoption of robot software among the small and medium-sized enterprises (SMEs) to reduce energy as well as labor cost drives growth of the robot software market. Moreover, growing usage of robots in several industries such as manufacturing, electrical and electronics, food & beverage, and automotive positively impacts the growth of the market.
However, rise in malware attacks on the software and high implementation cost needed for robots and robot software is anticipated to hinder growth of the market during forecast period. On the contrary, rise in adoption of automation in pharmaceutical sector is projected to create lucrative growth opportunities for the market growth. The increasing implementation of robotics in pharmaceutical manufacturing helps in repeatability and reproducibility, while reducing human errors. In addition, the need for new drugs has pushed the demand for automated equipment to facilitate productivity.
On the basis region, the global Robot Software Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East and Africa. Asia-Pacific accounted for the largest share in the Global Robot Software Market. Growth of this region is mainly attributed to presence of well-established manufacturing industries across the growing economies, such as China, India, Japan, Singapore, and South Korea which are stressing on innovating the existing solutions. In addition to this, the governments across these regions are offering easy loan facilities to SMEs and large enterprises, fueling growth of the robot software market.
Moreover, the Asia-Pacific followed by the Latin America is expected to grow at the highest growth rate during the forecast period. Growth of the LAMEA region is mainly driven by the rapid deployment of industrial robotic in a number of manufacturing factories.
There is rising trend of robots-as-a-service (RaaS) as growing number of companies around the globe are racing towards digital transformation and striving for innovation. The robotics models are helping companies to complete complex and repetitive tasks in a shorter time through virtual agents. RaaS has offered rental and leasing services; therefore, expanded the robotics rental market by cutting costs in permanent deployment solutions. Such trend are projected to create opportunities for the robotic software market.
Moreover, delivery robots is an emerging technology which is rapidly being used by hospitals to transport blood and other test samples. In addition, these robots are being used to work in large indoor spaces which carries out the delivery of internal mail in workplace settings such as shop floors and office blocks.
Global Robot Software market segmentation is based on the software type, robot type, enterprise size, industry vertical, and region. Based on the software type, the robot software market is segmented into recognition software, data management and analysis software, simulation software, communication management software, and predictive maintenance software. Based on the robot type, it is segregated into industrial robots and service robots. On the basis of enterprise size, the market is categorized into large enterprises and small & medium enterprises. According to the industry vertical, the market is divided into manufacturing, media & entertainment, healthcare, aerospace & defense, logistics and others. Based on the region, it is segregated into North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The global Robot Software market is consolidated with the presence of major players in the market such as ABB Ltd., Furhat Robotics, H2O.ai, International Business Machines Corporation, Brain Corporation, AIbrain Inc., CloudMinds Technology Inc., Energid Technologies Corporation, Liquid Robotics, Inc., NVIDIA Corporation and other players.
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