Allied Market Research Sees Robot Software Market at $47B by 2030
July 6, 2021
to a recent report published by Allied Market Research, titled, “Robot
Software Market by Software Type, Robot Type, Enterprise Size, and
Industry Vertical: Global Opportunity Analysis and Industry Forecast,
2021–2030,” the global robot software market size was valued at $4.27
billion in 2020, and is projected to reach $47.24 billion by 2030,
growing at a CAGR of 27.3% from 2021 to 2030.
Robot software is a set of programmed inputs given to the robot 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, and
for other critical work. Robot software is adopted in various
organizations in their manufacturing units to execute automated tasks
such as data analysis, filtering, triangulation, locating, path finding,
analysis, and others. Furthermore, the key factor that drives the robot
software market trends includes rise in need for automation and safety
in organizations and rapid adoption of robot software by SMEs to reduce
labor and energy cost. In addition, increase in usage of robots in
several industries positively impacts the robot software market growth.
However, factors such as high implementation cost and rise in malware
attacks on the software is expected to hamper the market growth. On the
contrary, increasing adoption of IoT and AI based robots in industries
is expected to offer remunerative opportunities for the expansion of the
robot software market during the forecast period.
Depending on robot type, industrial robots are expected to account for
the largest market share during the forecast period. This is attributed
to growing demand for collaboration robots across various industries and
increasing automation in electronics industries across the developing
nations of Asia-Pacific and LAMEA regions. However, the service robots
are gaining popularity during the COVID-19 pandemic and are expected to
witness faster growth, owing to rise in application of service robots in
companionship, handicap assistance, and assistance for geriatric
population and rapid adoption of this robots in various industries to
perform various complex tasks with ease.
Region wise, the robot software market was dominated by Asia-Pacific,
and is expected to retain its position during the forecast period. This
is attributed to high adoption of advanced robotics technologies in
growing manufacturing industries across major economies such as Japan,
South Korea, China and others. However, emerging countries in
Asia-Pacific and Latin America are expected to witness significant
growth rate during the forecast period, owing to rising robot software
awareness and growth in number of SMEs adopting robots for automation
and work efficiency.
The outbreak of COVID-19 had a moderate impact on the growth of the
robot software market in the first half of 2020. This was due to
lockdown guidelines published by the government in various countries,
wherein manufacturing, and other industries allowed to operate with a
limited number of employees during the pandemic. However, there was a
rise in adoption of robot software for adoption of service robots to
fight against COVID-19 pandemic by restricting the contact between
people. In addition, increased use of industrial robots to reduce the
human interference in production of goods and services is expected to
drive the growth of robot software during the COVID-19 pandemic.
Pramod Borasi, Research Analyst at
Allied Market Research said, "The communication management software type
is expected to grow at the highest rate during the forecast period. This
is attributed to software’s functionalities, which enable organizations
to record and track the communications of the robotic machinery and to
streamline the communication process."
Findings Of The Study
By software type, the data management and
analysis software segment accounted for the
largest robot software market share in 2020.
Region wise, Asia-Pacific generated highest
revenue in 2020.
Depending on robot type, the industrial robot
segment generated the highest revenue in 2020.
The key players profiled in
the robot software market analysis are ABB Ltd.,
AIbrain Inc., Brain Corporation, CloudMinds
Technology Inc., Energid Technologies Corporation,
Furhat Robotics, H2O.ai, International Business
Machines Corporation, Liquid Robotics, Inc, and
NVIDIA Corporation. These players have adopted
various strategies to increase their market
penetration and strengthen their position in the
robot software industry.