Global Robot Software Market to Reach US$ 69.7 Billion by 2032, Bolstered by Emergence of Fourth Industrial Revolution

July 27, 2022 | Technology & Media

The latest report by IMARC Group, titled “Robot Software Market Report by Software Type (Recognition Software, Simulation Software, Predictive Maintenance Software, Data Management and Analysis Software, Communication Management Software), Robot Type (Industrial Robots, Service Robots), Deployment Mode (On-premises, Cloud-based), Enterprise Size (Small and Medium-sized Enterprises, Large Enterprises), End Use Industry (BFSI, Automotive, Retail and E-Commerce, Government and Defense, Healthcare, Transportation and Logistics, Manufacturing, IT and Telecommunications, and Others), and Region 2024-2032,” finds that the global robot software market reached a value of US$ 17.3 Billion in 2023. Robot software is used to provide a set of commands that enable mechanical devices or electronic systems to perform autonomous tasks and attain desired outputs. It includes security patrols, visitor tours, custom programs, and drag-and-drop interfaces that are used to set up delivery routes, reduce operational costs and risks, and enhance internal processes. It can also create applications with command-and-control and tasking features and control graphical user interface (GUI) to operate mobile robots. Nowadays, there is an escalating demand for robot software across the globe as various organizations are adopting robotics technology for carrying out repetitive and time-consuming tasks.

Global Robot Software Market Trends:

The market is primarily driven by the emergence of the Fourth Industrial Revolution (Industry 4.0). In addition, the rising adoption of robots in the healthcare industry to assist in surgeries and various lab and pharmacy functions represents another major growth-inducing factor. Besides this, with the escalating demand for packaged food items, manufacturers in the food and beverage (F&B) industry are relying on robotics technology to automate the production process and mass-produce products with high precision and yields. This, coupled with the emerging trend of precision manufacturing, is catalyzing the demand for industrial robots to modify manufacturing facilities into smart, connected factories. Furthermore, the increasing utilization of robots across the e-commerce industry for automating major operations and the introduction of artificial intelligence (AI) driven robots using robotic operating systems (ROS) and frameworks are also creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 69.7 Billion by 2032, exhibiting a CAGR of 16.2% during the forecast period (2024-2032).

Market Summary:

  • Based on the software type, the market has been categorized into recognition, simulation, predictive maintenance, data management and analysis, and communication management software.
  • On the basis of the robot type, the market has been bifurcated into industrial and service robots.
  • Based on the deployment mode, the market has been segmented into on-premises and cloud-based.
  • On the basis of enterprise size, the market has been classified into small and medium-sized, and large enterprises.
  • The market has been segregated based on the end use industry into BFSI, automotive, retail and e-commerce, government and defense, healthcare, transportation and logistics, manufacturing, IT and telecommunications, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being ABB Ltd., AIBrain Inc., Brain Corporation, Clearpath Robotics Inc., Furhat Robotics, Inc., International Business Machines Corporation, Neurala Inc., NVIDIA Corporation, Teradyne Inc. and The Boeing Company.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Robot Software Market to Reach US$ 69.7 Billion by 2032, Bolstered by Emergence of Fourth Industrial Revolution
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