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Robot Software Market - Global Industry Insights, Trends, Outlook, Opportunity Analysis, 2018-2026

Author: Sumit Patil
by Sumit Patil
Posted: Mar 30, 2019
software market

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Robot software consists of a set of coded commands or instructions that tell a machine-driven device about the tasks to be performed. This software allows tasks to perform autonomously. Several software systems and frameworks such open source frame work and software based framework are available for easing robot programming. These software also aid in reducing the error rates, etc. for application in various verticals. Therefore advantages offered by such software is expected to aid in growth of adoption in various sectors, in turn driving growth of the market.

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Rising demand for robots in various industries is expected to aid in growth of the robotic software market over the forecast period

Increasing use of robots in verticals such as healthcare, telecommunication and IT, and manufacturing is one of the major driving factors for the market growth. Businesses are adopting robotics to increase efficiency, for better output and in lesser turnaround time. This helps enterprises to focus on creative, strategic, and customer-facing roles rather than manual and repetitive tasks. These factors, in turn, are expected to aid in growth of robotics software market.

High initial cost is expected to be a major challenge for growth of the market

High initial investment costs for deploying robots is expected to be major challenge for growth of the market, as SMEs (Small & Medium enterprises) do not have such high capital for investment.

Robot Software Market: Taxonomy

By Deployment Model:

  • On-premises

  • On-demand

By Robot:

  • Industrial robots

  • Service robots

By Software Type:

  • Recognition software

  • Simulation software

  • Predictive maintenance software

  • Data management and analysis software

  • Communication management software

By Organization Size:

  • Small Enterprises

  • Medium Enterprises

  • Large Enterprises (SMEs)

By Vertical:

  • Banking, Financial Services, and Insurance (BFSI)

  • Retail

  • Government and Defense

  • Healthcare and Life Sciences

  • Transportation and Logistics

  • Manufacturing

  • Telecommunications and IT

  • Others

Robot Software Market: Regional Insights

On the basis of geography, global robot software market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is estimated to hold the largest market share over the forecast period in 2017 in the global robot software market. Canada and the U.S. are expected to be major growth regions. The early adoption of technologies in multiple verticals, such as manufacturing, healthcare, transportation, and logistics. For instance, a group of tiny robots called Magnetic Microbots used to travel the blood vessels and deliver targeted medication. The ability of service robots to assist in surgeries and carry out tedious and repetitive nursing functions will result in its augmented adoption during the forecast period. This increase in the adoption of service robots will indirectly foster the need for robotic software platforms will help in directly propel the growth of the robot software market in this region

Robot Software Market: Competitive Background

Major players in the global robot software market are ABB Robotics, AIBrain, Brain Corporation, CloudMinds Technologies, Energid Technologies, Furhat Robotics, IBM Corporation, Liquid Robotics, Neurala Brain Inc., and Oxbotica Inc.. For Instance, May 10, 2016, ABB had acquired SVIA, a leading provider robot automation cells for machine tending. The acquisition expanded the ABB’s portfolio includes the automotive, plastics and electronics, such as smart phone manufacturing. Thus, this expansion offering the benefit both machine OEMs (original equipment manufacturers) and established CNC (Computer Numeric Control) machine users as well as ABB’s global network of channel partners.

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About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various reco

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Author: Sumit Patil

Sumit Patil

India

Member since: Feb 27, 2019
Published articles: 193

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