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 refers to robotic solutions that are deployed by organizations on a pay-per-use model. The robotic solution consists of physical robots, cloud-based computing, infrastructure, software, and other required services. These services help organizations address specific use cases and business needs in industries like healthcare, agriculture, infrastructure, and more.
Market key trends:
Artificial intelligence is enabling various new capabilities in robots and autonomous systems. AI helps robots perform complex tasks, make decisions, interact with humans in a natural way. As AI technologies advance, more capabilities are getting added to robotic systems. This is increasing the scope of applications for robots from routine tasks to more complex operations. This is driving the demand for AI-enabled robotic solutions in various industries on a subscription model. Companies are able to utilize advanced robotics solutions without significant upfront investments through robot as a service offerings. The pay-per-use model also makes advanced robotics accessible for small and medium enterprises. The rise of AI is a major trend enhancing the capabilities of robotic systems offered as a service.
SWOT Analysis
Strength: The robot-as-a-service model offers operational flexibility and reduced upfront investment compared to traditional robot ownership. This makes automation accessible to small and medium enterprises.
Weakness: Relatively high cloud connectivity and IT infrastructure requirements for effective functioning of cloud-based robot-as-a-service platforms.
Opportunity: Growing demand from industries such as healthcare, logistics, and warehousing. Potential of cobots as they can collaborate with humans as assistants.
Threats: Resistance to change and adoption of new technologies by certain industries. Data security risks involved in cloud-based service models.
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 of 2023 to 2030, due to increasing adoption of cloud-based robotics solutions.
Regional analysis: North America currently dominates the global robot-as-a-service market with the highest number of vendors providing robotics services in the region. Asia-Pacific is expected to grow at the fastest CAGR during the forecast period, led by increasing demand from China, Japan, and India.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
