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Robot software is a set of multiple programmed inputs given to the robot (the mechanical device and operating system) to execute a specific task and attain the desired output. Organizations adopt robot software to automate tasks, reduce operating costs, increase productivity, lower operational risk, improve internal processes, among others. Robot software is adopted in various organizations in their manufacturing units to execute automated tasks such as data analysis, filtering, triangulation, locating, pathfinding, analysis, and others.
The growing adoption of industrial robots in various industries including heavy manufacturing, healthcare, automotive, oil & gas, government, and others is anticipated to boost the growth of the market. According to the International Federation of Robotics (IFR), in February 2020, around 2 million units of industrial robots are estimated to be deployed in manufacturing factories globally, by the year 2022. Also, the advent of technologies such as 5G infrastructure, cloud, big data, internet of things (IoT) and the rising internet penetration is expected to boost the demand for the software.
COVID-19 epidemic has impacted all the industry globally. Observing several preliminary sales results from the first half of 2020, an insignificant drib can be seen in demand for the software. As per the lockdown guidelines published by the government in various countries, manufacturing, healthcare, and other industries are allowed to operate with a limited amount of employees during the pandemic. To maintain the overall productivity, organizations around the globe are advancing their manufacturing models by adopting an automated robot. This adoption of robots would likely accelerate the demand for robots software, leading to fast recovery of global production.
Key Market Driver -
• Increasing adoption of advanced robots is fueling the market growth • Emerging 5G infrastructure, cloud, big data and rising internet penetration is driving the growth of the market
Key Market Restraint -
• The high cost of software and minor security issue such as DDoS (distributed denial-of-service) attacks, is expected to hinder the growth of the market
Key players in the market are focused on investing by expanding their software offering geographically to gain a competitive edge in the market. Also, these players are focused on adopting various business strategies such as mergers, partnerships, and collaboration to expand their business globally. For instance, in January 2019, NVIDIA Corporation launched a robotics research lab in Seattle, Washington campus. The lab was built to develop robotics software for the next generation of robots. The software helps to execute complex algorithm functions such as dynamic programming, backtracking, data compression, and others. The emerging technologies such as industrial internet of things (IIoT), augmented and virtual reality (AR/VR), 3D industrial printing, and others, are considered as market opportunities for the new market competitors.
Some of the key players in the robot software market are ABB Ltd, Nvidia Corporation, IBM Corporation, Cloudminds, Brain Corporation, Aibrain, Amazon.com, Inc., Fanuc Group, Cyberbotics, iRobot, Epson Robotics, Microsoft Corporation, Skilligent, and others.
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Among all the regions, North America is expected to lead the market. The market size is primarily owing to the presence of major players such as Nvidia Corporation, Microsoft Corporation, Brain Corp, CloudMinds, IBM Corporation, and others. These players are focused on completing various business strategies to expand their presence worldwide.
Europe is anticipated to rise with a significant CAGR during the forecast period. The growth of the market is primarily owing to the investment done by the government in countries including the UK, Germany, Russia, and others, by adopting robot software in the automotive and healthcare industries.
Asia Pacific is predicted to grow with the maximum CAGR. The growth in the region is owing to the rising investment done by start-ups and local government of countries such as India, Japan, China, Korea, and other. The investment is made for the development of technologies driving service robots across BFSI, retail, education and other industries. Growing internet penetration and the rising number of software providers in Latin America and the Middle East and Africa is likely to drive the market size.
By Software Type
By Robot Type
By Enterprise Size
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