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Robot As A Service Market - Share, Size and Industry

Author : richa sinha | Published On : 16 Apr 2024

Meticulous Research®—a leading global market research company, published a report titled, 'Robots-as-a-Service Market by Type (Industrial, Commercial, Domestic), End User (Agriculture, Healthcare, Hospitality, Search & Rescue, Transportation & Logistics, Gardening, Professional Cleaning, Other End-users), and Geography - Global Forecast to 2030.’

According to the latest publication from Meticulous Research®, the robots-as-a-service market is projected to reach $8.4 billion by 2030, at a CAGR of 16.7% during the forecast period of 2023 to 2030. The growth of this market is attributed to the rising use of RaaS in healthcare for efficient processes in clinical settings and surgical assistance, growing preference for RaaS over other automation software due to an increase in scalability & flexibility and reduced cost in the long run, and increasing adoption of RaaS in the manufacturing sector. In addition, increasing automation across various sectors such as hospitality and agriculture, rising focus on reducing human labor, and the emergence of Industry 5.0 are expected to offer significant opportunities for the growth of this market.

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However, the lack of mobility and safety issues with robots while working with other industrial systems are major challenges to the growth of this market.

 

The robots-as-a-service market is segmented by robot type and end user. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on robot type, the robots-as-a-service market is segmented into industrial, commercial, and domestic service robots. In 2023, the industrial service robots segment is expected to account for the largest share and is projected to register the highest CAGR during the forecast period. This segment's large market share and rapid growth are attributed to a significant increase in demand for RaaS across several industries, including logistics, defense, and construction & medicine; a surge in deployment of automation and mobility in many industries; and rising labor cost and a lack of skilled professionals. Hence, these factors are driving the growth of the industrial service robots segment.

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Based on end user, the robots-as-a-service market is segmented into agriculture, inspection and maintenance, healthcare, search & rescue, hospitality, professional cleaning, transport & logistics, gardening, and other end users. In 2023, the transportation & logistics segment is expected to account for the largest share of the robots-as-a-service market. This segment's large market share is attributed to its increased usage in various applications such as picking, packing, and delivery; growing demand for autonomous mobile robots in warehouses to increase efficiency in inventory management; and enhanced safety & risk mitigation. However, the healthcare segment is projected to register the highest CAGR during the forecast period. The highest growth is attributed to the rising number of surgical procedures, minimized human error as it is an inherent risk to patient’s health, improved precision and accuracy, and growing adoption of advanced surgical systems by surgeons.

Based on geography, the robots-as-a-service market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the market. The rising investments in cutting-edge technology, larger investment in R&D, and adoption of significant technologies such as surgical robots in healthcare, AGVs & AMRs in manufacturing are some of the major drivers for the growth of this regional segment. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.

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Key Players:

The key players operating in the robots-as-a-service market are Locus Robotics (U.S.), inVia Robotics, Inc. (U.S.), Cobalt Robotics (U.S.), Knightscope, Inc. (U.S.), Aethon Inc. (U.S.), Relay Robotics, Inc. (U.S.), iRobot Corporation (U.S.), KUKA AG (Germany), Intuitive Surgical (U.S.), Daifuku Co., Ltd. (Japan), OMRON Corporation (Japan), Aldebaran & United Robotics Group (Japan), SoftBank Corp. (Japan), EXOTEC (France), and Hirebotics (U.S.).

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Key questions answered in the report-

  • Which are the high-growth market segments based on robot type and end user?
  • What was the historical market size for robots-as-a-service?
  • What are the market forecasts and estimates for the period 2023–2030?
  • What are the major drivers, restraints, opportunities, and challenges in the robots-as-a-service market?
  • Who are the major players, and what shares do they hold in the robots-as-a-service market?
  • How is the competitive landscape in the robots-as-a-service market?
  • What are the recent developments in the robots-as-a-service market?
  • What are the different strategies adopted by the major players in the robots-as-a-service market?
  • What are the key geographic trends, and which are the high-growth countries?

 

 

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