Meticulous Research®, a prominent global market research firm, released 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 most recent report by Meticulous Research®, the robots-as-a-service market is forecasted to achieve a value of $8.4 billion by 2030, with a compound annual growth rate (CAGR) of 16.7% between 2023 and 2030. This growth is driven by several factors, including the expanding utilization of RaaS in healthcare settings for enhanced clinical operations and surgical support, a growing preference for RaaS due to its scalability, flexibility, and long-term cost savings compared to other automation solutions, and the increasing adoption of RaaS within the manufacturing industry. Furthermore, the market is poised to benefit from the broader trend of automation across various sectors such as hospitality and agriculture, the emphasis on reducing reliance on human labor, and the emergence of Industry 5.0, all of which present significant opportunities for market expansion.
However, significant obstacles to the market's growth include challenges related to the limited mobility of robots and safety concerns when operating alongside other industrial systems.
The robots-as-a-service market is categorized based on the type of robot and the end user. Additionally, the study assesses competitors within the industry and conducts an analysis of the market on both regional and country-specific levels.
Based on robot type, the robots-as-a-service market is divided into three main segments: industrial, commercial, and domestic service robots. In 2023, the industrial service robots segment is anticipated to hold the largest market share and is expected to exhibit the highest compound annual growth rate (CAGR) throughout the forecast period. This segment's dominance and rapid expansion can be attributed to increased demand for RaaS across various sectors such as logistics, defense, construction, and healthcare, alongside a surge in the adoption of automation and mobility solutions across industries. Additionally, factors such as escalating labor costs and a shortage of skilled workers further contribute to the growth of 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. In 2023, the transportation & logistics segment is expected to dominate the market. This segment's prominence is driven by its widespread application in tasks such as picking, packing, and delivery, the increasing use of autonomous mobile robots in warehouses to streamline inventory management, and the focus on enhancing safety measures and risk reduction. However, the healthcare segment is projected to witness the highest growth rate during the forecast period. This growth is fueled by factors including the rising number of surgical procedures, the need to minimize human error which poses inherent risks to patients' health, the improvement in precision and accuracy offered by advanced surgical systems, and the growing acceptance of such systems by surgeons.
Based on geography, the robots-as-a-service market is divided into regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is predicted to hold the largest market share. This dominance is fueled by increased investments in advanced technology, substantial allocations towards research and development, and the adoption of key technologies like surgical robots in healthcare and AGVs & AMRs in manufacturing. Meanwhile, Asia-Pacific is forecasted to experience the highest compound annual growth rate (CAGR) throughout 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-
- What are the market segments with significant growth potential based on the type of robot and end user?
- What was the past market size of robots-as-a-service?
- What are the projected market figures and estimations for the timeframe spanning from 2023 to 2030?
- What are the main factors propelling, hindering, offering potential, and posing obstacles 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 does the competitive scenario look like within the robots-as-a-service market?
- What are the latest advancements or updates observed in the robots-as-a-service market?
- What are the various approaches employed by the leading players in the robots-as-a-service market?
- What are the significant geographical patterns, and which countries are experiencing substantial growth within the robots-as-a-service market?
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