Robotic Platform Market worth $13.0 billion by 2029 – Exclusive Report by MarketsandMarkets™

CHICAGO, July 5, 2024 /PRNewswire/ — The Robotic platform market is projected to grow from USD 9.8 billion in 2024 and is estimated to reach USD 13.0 billion by 2029; it is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the Robotic platform market is driven by increasing government investments in Robotics Research & Development, Accelerated adoption of robotic software by SMEs to minimize labor and energy expenses, Increasing adoption of cloud-based robotic software solutions, Adoption of service robots in medical applications; Adoption of Autonomous Mobile Robots (AMRs) in warehouse and logistics sectors.

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Robotic Platform Market Report Scope:

By Robot, Service Robots segment is projected to grow at a high CAGR of Robotic platform market during the forecast period.

The adoption of robotic software platforms in service robots is accelerating, driven by the growing demand for automation across various sectors such as healthcare, hospitality, logistics, and domestic applications. Service robots are mainly designed to perform tasks that assist humans in non-manufacturing environments, and the integration of advanced software platforms is crucial to enhancing their capabilities. These platforms provide essential functionalities such as natural language processing, machine learning, and advanced navigation, enabling robots to interact more intelligently and intuitively with their surroundings and users. In the healthcare sector, service robots equipped with sophisticated software are increasingly used for tasks like patient care, surgery assistance, and medical supply delivery. The global pandemic has further spurred the need for such robots, highlighting the importance of contactless services and remote operations. Similarly, robots powered by advanced software platforms transform operations by optimizing inventory management, automating order fulfillment, and streamlining supply chains in logistics and warehousing. The rapid growth of e-commerce has mainly boosted the demand for these solutions, with companies investing heavily in robotic automation to improve efficiency and reduce costs.

On-Cloud segment in deployment will account for highest CAGR during the forecast period.

Cloud-based deployment, where robotic software platforms are delivered via a provider’s infrastructure, is gaining traction due to its many advantages. This model eliminates the need for companies to manage their own servers, offering benefits like cost savings, scalability, and remote access. Industries like manufacturing and healthcare leverage this for real-time control of robots in areas like surgery and logistics. Retail, finance, and education also benefit from cloud-based robotic software for inventory management, fraud detection, and STEM education tasks.

Mobile type segment in Robotic platform market will hold for highest CAGR during the forecast period.

Mobile robots stand at the crossroads of robotics and information engineering, representing a revolutionary class of machines with mobility capabilities that empower them to navigate diverse environments independently or with minimal human intervention. Unlike static robots, mobile robots integrate a blend of hardware and software that revolutionizes human engagement with automation. Key components of mobile robots encompass controllers, sensors, actuators, and power sources. Controllers, typically microprocessors or computers, serve as the robot’s central processing unit, interpreting sensor inputs and directing movement commands. Sensors, including cameras for visual data, LiDAR for three-dimensional perception, and ultrasonic sensors for obstacle detection, act as the robot’s sensory system. Actuators, often electric motors propelling wheels, treads, or legs, enable physical movement. The power supply, ranging from batteries to wired connections, fuels the robot’s functionalities. The pivotal element driving mobile robots is their advanced software platforms, orchestrating tasks like motion planning, localization, mapping, sensor integration, and behavior regulation. These platforms ensure seamless navigation and effective interaction with the surrounding environment.

Residential in end-user industry segment in Robotic platform industry account for the highest CAGR during the forecast timeline

Robotic software platforms are crucial for developing and operating security and surveillance robots, addressing major security concerns for homeowners. These robots integrated with cameras and sensors, can patrol properties, detect unusual activities, and alert homeowners or security services in real time. They are integrated with other smart home devices, allowing for coordinated responses, such as locking doors or activating alarms, enhancing the overall security infrastructure. Additionally, these platforms power personal assistant robots that perform various tasks to aid residents, including providing reminders, controlling other smart devices, assisting with communication, and even offering companionship. Advanced AI capabilities enable these robots to learn from user interactions, improving their functionality and making them more intuitive and helpful over time. In elderly and disabled care, robotic software platforms make significant strides, with robots assisting with daily activities, such as medication reminders, mobility assistance, and emergency responses, to ensure safety and well-being of individuals.

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Asia Pacific will account for the highest CAGR during the forecast period.

The Asia Pacific region has embraced automation technologies to address labor shortages, improve production quality, and increase operational efficiency. Robotic platforms, with their ability to work safely alongside human workers, have gained traction in various automotive, electronics, semiconductors, and logistics industries. The increasing acceptance of robotic platforms among small and medium-sized enterprises (SMEs) is noteworthy, further driving their integration into manufacturing. Government initiatives such as funding support, tax incentives, and skill development programs actively bolster robotic platform development and adoption across industries. While the Asia Pacific region leads in robotic platform deployment, the market’s evolving dynamics hint at substantial growth opportunities in other regions.

Key Players

Key companies operating in the Robotic platform companies are IBM (US), NVIDIA Corporation (US), Amazon.com (US), Google Inc. (US), Microsoft (US), ABB (Switzerland), KUKA AG (Germany), Universal Robots A/S (Denmark), KEBA (Austria), and Dassault Systèmes (France), among others.

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