Robots-as-a-Service Market Forecasted to Reach $8.4 Billion by 2030
Meticulous Research®, a globally recognized market research firm, has recently published an insightful 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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The report from Meticulous Research® forecasts that the Robots-as-a-Service (RaaS) market will experience substantial growth, reaching a valuation of $8.4 billion by 2030, with a CAGR of 16.7% during the forecast period from 2024 to 2030. The market's growth is driven by several factors, including the increased utilization of RaaS in healthcare to streamline clinical operations and assist in surgeries. The growing preference for RaaS over traditional automation software is due to its enhanced scalability, flexibility, and long-term cost savings. Additionally, the manufacturing sector's rising adoption of RaaS, along with increased automation across industries like hospitality and agriculture, the push to reduce reliance on human labor, and the emergence of Industry 5.0, is expected to create significant opportunities for market growth.
Nonetheless, the market faces certain challenges, particularly related to mobility limitations and safety concerns associated with robots in industrial environments.
The report segments the RaaS market by robot type and end user, offering a detailed analysis of the competitive landscape and market trends at regional and country levels.
By robot type, the RaaS market is categorized into industrial, commercial, and domestic service robots. The industrial service robots segment is anticipated to lead the market in 2024, capturing the largest share and registering the highest growth rate during the forecast period. The segment's dominance is attributed to the growing demand for RaaS across various industries, including logistics, defense, construction, and healthcare. The increasing implementation of automation and mobile technologies in numerous sectors, coupled with rising labor costs and a shortage of skilled professionals, are key drivers of growth in the industrial service robots segment.
Regarding end users, the RaaS market is segmented into agriculture, inspection and maintenance, healthcare, search & rescue, hospitality, professional cleaning, transport & logistics, gardening, and other industries. The transportation & logistics segment is expected to hold the largest market share in 2024, driven by its extensive application in tasks like picking, packing, and delivery, growing demand for autonomous mobile robots (AMRs) in warehouses for enhanced inventory management, and improved safety and risk mitigation. However, the healthcare segment is expected to witness the highest CAGR during the forecast period, supported by the rising number of surgical procedures, the need to minimize human error, enhanced precision and accuracy, and the increasing adoption of advanced surgical systems by healthcare 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 dominate the market, driven by substantial investments in advanced technologies, significant R&D spending, and the adoption of cutting-edge technologies such as surgical robots in healthcare and AGVs & AMRs in manufacturing. However, the Asia-Pacific region is projected to achieve the highest CAGR during the forecast period, indicating rapid market expansion 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: meticulousresearch.com/product/robotic-proc..
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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