The global Robot as a Service Market is estimated to be valued at US$ 19.62 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Robot as a service (RaaS) offers remotely provisioned robot devices and business intelligence tools for end users. The RaaS model helps to reduce upfront capital costs and offers flexibility in scaling robot fleets based on business needs. RaaS also handles device maintenance and software updates remotely through centralized management.
Market key trends:
One of the key trends in the Robot as a service market is the increasing adoption of collaborative robots or cobots. Cobots are cheaper, safer to operate and require limited skills to program and deploy. They enable humans and robots to work together on the same task in close proximity. This has expanded the use of robots beyond traditional industrial settings to various sectors including healthcare, retail and logistics. Furthermore, the advent of artificial intelligence and machine learning capabilities is driving the development of more intelligent, autonomous robots that can perform complex tasks with minimal human intervention. This is boosting the capabilities of RaaS solutions.
Segment Analysis
The global robot as a service market is dominated by professional service robots sub-segment. Professional service robots accounts for over 60% of the total market share owing to increasing adoption of robotics across various industries like manufacturing, hospitality, retail, healthcare and others for automation of routine tasks. These robots help in improving productivity and efficiency of the operations.
Key Takeaways
The global Robot as a Service Market Size is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing demand for automation to optimize business operations and processes.
Regional analysis
North America dominates the global robot as a service market with over 35% share in 2023. Fast adoption of technologies across industries in the US and Canada is driving the growth of the regional market. Asia Pacific is expected to grow at the fastest rate during the forecast period owing to expanding manufacturing sector and increasing investments in industrial automation in major economies like China and India.
Key players
Key players operating in the robot as a service market are iRobot, Softbank, Intuitive Surgical, DeLaval, Daifuku Co., Ltd., CYBERDYNE INC., DJI, KONGSBERG, Northrop Grumman, Neato Robotics, Inc., ecoRobotix Ltd, Starship Technologies, KUKA AG, Parrot, Aethon, Lely, Dematic, Bastian Solutions, LLC, and OMRON Corporation. iRobot is expected to dominate the logistics and warehouse robotics market owing to its extensive product portfolio and global presence.
The global robot as a service market size was valued at US$ 19.62 Bn in 2023 and is expected to reach over US$ 45 Bn by 2030 expanding at a CAGR of 15% during the forecast period.
Read More: https://www.ukwebwire.com/robot-as-a-service-market-size-share-and-growth-forecast/
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