Robots-as-a-Service Market Expected to Reach $8.4 Billion by 2030

 

Meticulous Research®, a renowned global market research firm, has recently released a comprehensive 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."

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According to Meticulous Research®, the Robots-as-a-Service (RaaS) market is expected to reach an estimated $8.4 billion by 2030, registering a robust CAGR of 16.7% during the forecast period from 2024 to 2030. This impressive growth trajectory can be attributed to the increasing integration of RaaS in healthcare for streamlining clinical operations and assisting in surgeries, the growing preference for RaaS due to its scalability and flexibility, and the long-term cost reductions it offers compared to traditional automation software. Furthermore, the adoption of RaaS in the manufacturing sector is on the rise, driven by the need for automation in sectors like hospitality and agriculture, the focus on reducing human labor, and the emergence of Industry 5.0, all of which present significant growth opportunities for the market.

However, the market's expansion is not without challenges. Key hurdles include the lack of mobility and safety concerns associated with robots when interacting with other industrial systems.

The RaaS market has been segmented by robot type and end user, with an in-depth analysis of market dynamics and competitive landscapes at both regional and national levels.

In terms of robot type, the RaaS market is divided into industrial, commercial, and domestic service robots. The industrial service robots segment is expected to dominate the market in 2024, accounting for the largest share and registering the highest CAGR over the forecast period. This segment's growth is driven by the increasing demand for RaaS across industries such as logistics, defense, construction, and medicine. The surge in automation and mobility adoption across various sectors and the rising costs of labor coupled with a shortage of skilled professionals further fuel the growth of the industrial service robots segment.

When segmented by end user, the RaaS market includes agriculture, inspection and maintenance, healthcare, search & rescue, hospitality, professional cleaning, transport & logistics, gardening, and other sectors. The transportation & logistics segment is anticipated to hold the largest market share in 2024, driven by its extensive application in picking, packing, and delivery processes, the growing demand for autonomous mobile robots (AMRs) in warehouses for efficient inventory management, and the enhanced safety and risk mitigation they offer. On the other hand, the healthcare segment is projected to exhibit the highest CAGR during the forecast period, driven by the increasing number of surgical procedures, the need to minimize human error in healthcare, improved precision and accuracy in surgeries, and the growing adoption of advanced surgical systems by medical professionals.

Geographically, the RaaS market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to command the largest share of the market, supported by substantial investments in cutting-edge technologies, significant R&D spending, and the adoption of advanced technologies like surgical robots in healthcare and automated guided vehicles (AGVs) and autonomous mobile robots (AMRs) in manufacturing. However, the Asia-Pacific region is poised to register the highest CAGR during the forecast period, indicating a rapidly growing market in this region.

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.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/robotic-process-automation-market-5282

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 2024–2030?
  • 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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