Robotic Platform Market Size To Reach USD 15.58 Billion By 2032, At 5.7% CAGR | Polaris Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Increasing need for industrial automation and rising use of autonomous mobile robots (AMRs) in diverse industries drive robotic platform market growth

New York, USA, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Robotic Platform Market Overview:

Global robotic platform market size is expected to upsurge from USD 9.51 billion in 2023 to USD 15.58 billion by 2032. The market is projected to exhibit a CAGR of 5.7% during the forecast period during 2024 – 2032.

Market Introduction:

What is Robotic Platform?

A robotic platform is a software system that supports the development, deployment, and management of software robots that emulate human actions. It integrates hardware, software, trajectory generation, three-dimensional visualization, and GUI. The robotic platform is used in diverse sectors such as manufacturing, healthcare, logistics, transportation, retail, and e-commerce. It makes processes and workflows more efficient and productive with minimum manual interventions.

A robotic platform is also suitable for education purposes for performing R&D activities and academic applications. Educational robots, research robots, Industrial robots , and Service robots are some of the types of robotic platforms. Industrial robots are used in manufacturing and other industries to automate various tasks such as product assembly, material handling, and more.

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Market Report Attributes:

Report Attributes	Details
Market value in 2023	USD 9.51 billion
Market value by 2032	USD 15.58 billion
CAGR	5.7% from 2024 to 2032
Base year	2023
Historical data	2019–2022
Forecast period	2024–2032

Key Highlights of Report:

• Various factors, such as the growing need for industrial automation, rising government investments in robotics research and development, increasing adoption of Autonomous Mobile Robots (AMRs) in various sectors, and rising developments in innovative software solutions, are fostering robotic platform market growth.
• The market is primarily segmented on the basis of product, application, and region.
• Based on region, North America is expected to account for the largest revenue share and is projected to maintain its dominance during the forecast period.

Robotic Platform Market Key Players:

• ABB
• Cyberbotics
• Google Inc.
• IBM
• Microsoft
• NVIDIA Corporation
• Omron Corporation
• Rethink Robotics
• Rockwell Automation Company
• Universal Robots A/S

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Growth Drivers and Trends:

Automation Requirement: Various sectors, including healthcare, hospitality, logistics, and household settings, are increasingly automating tasks in order to minimize labor costs and improve productivity and scalability. Thus, the growing adoption of automation across diverse industries fuels the robotic platform market demand.

Investments in robotics research and development: Government and private organizations aimed at adopting robotics platforms are highly investing in robotics research and development. Businesses are also seeking advancements in robotics, such as artificial intelligence (AI), machine learning, and sensor technologies, to improve productivity and efficiency, for which they are ready to spend on robotics research and development. This factor is fueling the market growth.

Use of Autonomous Mobile Robots (AMRs): These are used to navigate and perform tasks autonomously in different industries, including automotive, logistics, healthcare, consumer goods, and others. Autonomous Mobile Robots (AMRs) do not need set routes or human intervention. They are equipped with technologies like sensors, mapping, and localization systems. Thus, the rising use of AMRs across various industries accelerates market growth.

Which Region Dominates Robotic Platform Market Globally?

The North America robotic platform market registered the largest share in 2023 and is anticipated to maintain its position over the forecast period. This can be attributed to the integration of advanced technologies such as machine learning and artificial intelligence technologies in robotic platforms. Additionally, the rise of technologies such as the Industrial Internet of Things (IIoT) has made robot software crucial for ensuring the optimal performance of robots with technological advancement.

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Segmental Overview:

Robotic Platform Market – Robot Type-Based Outlook:

• Industrial Robots
• Service Robots

Robotic Platform Market – Type-Based Outlook:

• Fixed
• Mobile

Robotic Platform Market – Deployment-Based Outlook:

• On-Cloud
• On-premises

Robotic Platform Market - End-User-Based Outlook:

• Manufacturing

• Pharmaceuticals & Cosmetic
• Plastic, Rubber, and Chemicals
• Automotive
• Electrical & Electronics
• Food & Beverages
• Metals & Machinery
• Others

• Logistics and Transportation
• Retail and E-commerce
• Healthcare
• Residential
• Others

Robotic Platform Market – Regional Outlook:

• North America

• US
• Canada

• Europe

• Germany
• France
• UK
• Italy
• Spain
• Netherlands
• Russia
• Rest of Europe

• Asia-Pacific

• China
• Japan
• India
• Malaysia
• South Korea
• Indonesia
• Australia
• Vietnam
• Rest of Asia-Pacific

• Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

• Latin America

• Mexico
• Brazil
• Argentina
• Rest of Latin America

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