Market Trends of Robotic Software Platforms Industry
This section covers the major market trends shaping the Robotic Software Platforms Market according to our research experts:
Increasing adoption of Robots in Healthcare Industries
- The growing service robots adoption in medical applications is expected to support the industry growth over the forecast period, as consumers prefer robots for professional services. Critical healthcare applications use service robots for assistance in pill dispensing, surgeries, and precise needle placement. The ability of these robots to carry out repetitive and tedious nursing functions possesses potential growth opportunities for the robotics software platforms industry to standardize system integration.
- Robots in healthcare are equipped with AI that helps to identify, match, and distribute medicine to patients. For Instance, Medrobotics Corp stated that it had received FDA regulatory approval to commercialize the Flex Robotic System in the United States for robot-assisted visualization in general surgical, gynecological, and thoracic procedures.
- According to the International Federation of Robotics (IFR), The estimated annual industrial robot installations in Asia/Australia are expected to have the highest number of 370 units by the end of 2024. Artificial intelligence adoption, labor cost reduction, increased accuracy, improved speed, enhanced quality, and production scalability are the major factors propelling the robot software platform market growth. The robotic software platforms market is expected to have enormous opportunities in the small, medium, and large-scale industries.
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Asia-Pacific is Expected to Register Significant Market Growth During the Forecast Period
- The Asia-Pacific region is expected to create significant growth opportunities over the next five years. The increasing manufacturing sectors across the country, such as China, Japan, Singapore, South Korea, and India, contribute to significant growth for the market.
- Key players in the market and regional government agencies are working on regional robotics development. For instance, Addverb Technologies and Reliance plan to build 5G robotics and battery systems and to use carbon fiber to build affordable robots.
- The growing robot adoption across various end-user industries such as manufacturing, automotive, and healthcare is primarily driving growth in the robotic simulation software market. The increasing utilization of robotics in varied end-user sectors helps meet customized demand.
- Furthermore, the manufacturing industry growth of emerging economies, such as China and India, to manufacture goods and export these cost-efficient products across the globe is increasing the development of industrial robots in the region. It, in turn, is expected to increase the market's growth in this region.
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