Robots-as-a-Service Market to be Worth $8.4 Billion by 2030

Posted July 10, 2024 by Rajul123

Explore $8.4 billion Robots-as-a-service market: Get exclusive insights on key market trends, segments, geographical analysis, & competitive analysis!
Meticulous Research®, a leading global market research firm, has 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 report from Meticulous Research®, the robots-as-a-service (RaaS) market is projected to reach $8.4 billion by 2030, with a compound annual growth rate (CAGR) of 16.7% from 2023 to 2030. This growth is driven by several factors, including the increasing adoption of RaaS in healthcare for improved clinical operations and surgical support, the scalability, flexibility, and cost-effectiveness of RaaS compared to traditional automation solutions, and its growing integration into manufacturing operations. The market also benefits from broader trends such as automation in hospitality and agriculture, the shift towards reducing reliance on human labor, and the emergence of Industry 5.0, creating significant opportunities for market expansion.
However, obstacles to market growth include challenges related to robot mobility limitations and safety concerns when operating alongside other industrial systems. The RaaS market is segmented by robot type and end user, with competitive analysis conducted at regional and country-specific levels.
Based on robot type, The robots-as-a-service market is categorized into three primary segments: industrial, commercial, and domestic service robots. By 2023, the industrial service robots segment is poised to lead with the largest market share and is expected to maintain the highest compound annual growth rate (CAGR) throughout the forecast period. This segment's dominance and rapid expansion are driven by increasing demand for RaaS across diverse sectors including logistics, defense, construction, and healthcare. There is also a notable uptick in adoption of automation and mobility solutions across industries. Additionally, factors such as rising labor costs and a shortage of skilled workers further bolster growth in the industrial service robots segment.
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. By 2023, the transportation & logistics segment is expected to lead the market. This segment's prominence is driven by its extensive use in tasks such as picking, packing, and delivery, the increasing deployment of autonomous mobile robots in warehouses to streamline inventory management, and the emphasis on enhancing safety and reducing risks.
Meanwhile, the healthcare segment is anticipated to experience the highest growth rate during the forecast period. This growth is fueled by factors such as the rising number of surgical procedures, the imperative to minimize human errors that can jeopardize patient safety, the precision and accuracy improvements provided by advanced surgical systems, and the growing acceptance of these systems among surgeons.
Based on geography, The robots-as-a-service market is segmented into regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. By 2023, North America is expected to lead with the largest market share. This dominance is driven by significant investments in advanced technologies, substantial funding for research and development initiatives, and widespread adoption of key technologies such as surgical robots in healthcare and AGVs (Automated Guided Vehicles) & AMRs (Autonomous Mobile Robots) in manufacturing.
Meanwhile, Asia-Pacific is projected to achieve the highest compound annual growth rate (CAGR) during the forecast period.
Key Players:
Key players in the robots-as-a-service market include Aldebaran & United Robotics Group (Japan), Aethon Inc. (U.S.), Cobalt Robotics (U.S.), Daifuku Co., Ltd. (Japan), EXOTEC (France), Locus Robotics (U.S.), inVia Robotics, Inc. (U.S.), Knightscope, Inc. (U.S.), KUKA AG (Germany), OMRON Corporation (Japan), Relay Robotics, Inc. (U.S.), iRobot Corporation (U.S.), Intuitive Surgical (U.S.), SoftBank Corp. (Japan), and Hirebotics (U.S.).
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Key questions answered in the report-
• Which market segments show significant growth potential based on the type of robot and end user?
• What was the historical market size of robots-as-a-service?
• What are the projected market figures and estimates for the period from 2023 to 2030?
• What are the main factors driving, hindering, providing opportunities, and posing challenges in the robots-as-a-service market?
• Who are the key players and what are their respective market shares in the robots-as-a-service market?
• What is the competitive landscape like within the robots-as-a-service market?
• What are the latest advancements or developments observed in the robots-as-a-service market?
• What are the strategies employed by leading players in the robots-as-a-service market?
• What are the notable geographical trends, and which countries are witnessing significant growth in the robots-as-a-service market?
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Issued By Rajul
Country United States
Categories Computers , Science , Technology
Tags robotsasaservice market , robotsasaservice , raas , raas market , cloud robotics , information and communications technology , technology , ict
Last Updated July 10, 2024