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Robotics as a Service Market Overview:
Robotics as a Service Market size is estimated to reach $8 billion by 2030, growing at a CAGR of 15.6% during the forecast period 2023-2030. Increasing demand for automated solutions to improve workplace efficiency and flexibility, rising interest in reducing labor costs among businesses, and growing adoption of robotics to enhance quality control and workplace safety are propelling the Robotics as a Service Market growth.
Additionally, the significant investments in advanced manufacturing and automation technology by both government and private players are presenting major growth opportunities for the Robotics as a Service Market. According to the International Federation of Robotics (IFR), worldwide robotics spending is forecasted to surpass $103.3 billion by 2026, indicating strong capital deployment in automation and robotics adoption globally. At the same time, evolving enterprise needs for flexible automation solutions that optimize costs are other key factors driving demand for robotics-as-a-service business models. These trends are expected to positively shape RaaS industry outlook over the forecast period.
Market Snapshot:
Robotics as a Service Market - Report Coverage:
The “Robotics as a Service Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Robotics as a Service Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
• Due to the global economic crisis caused by the Covid pandemic, enterprise and government spending on new automation projects and robotics investments declined significantly. Besides, the demand for robotics as a service depends largely upon new capital deployment. The lockdowns imposed by governments during the pandemic suspended many planned technology upgrades and automation initiatives, which negatively impacted the Robotics as a Service Market.
· The Russia-Ukraine conflict has caused supply chain disruptions that are negatively impacting the Robotics as a Service Market. Key components used in robotics manufacturing, such as semiconductor chips, have faced shortages and cost increases stemming from reduced exports of raw materials from Russia and Ukraine. As most companies prohibited business operations in Russia, the Robotics as a Service Market faces further challenges.
Key Takeaways:
· Highest Share of Asia Pacific Region
Geographically, in the global Robotics as a Service market share, Asia Pacific is analyzed to have highest share 35% in 2022. For instance, China’s robots installations grew up by 44% in 2021, showcasing massive growth potential as automation investments accelerate. According to International Federation of Robotics reports, Ministry of Industry and Information Technology (MIIT) in Beijing, China, released the new 5-year
plan for the robotics industry which focus on promoting innovation - making China a global leader for robot technology and industrial advancement. These indicators spotlight APAC's position to lead the RaaS industry driven by ambitious automation goals in the region's major economies.
Professional Service Robots to Register the Fastest Growth
The professional service robot segment is expected to register the fastest growth in the RaaS market during the 2023-2030 forecast period with a CAGR of 15.9%. Growing adoption in construction, defence, healthcare, logistics, agriculture, and other industries will drive demand for professional robots that can improve productivity, quality, and safety. For example, the International Federation of Robotics said the total number of service robots sold for professional use hit 158,000 units in 2022, an increase of 48%. A shortage of skilled workers and a lack of staff applying for service jobs boosts demand. IFR identified almost 1,000 service robot suppliers worldwide delivering autonomous services.
· Material Handling Robots See Increased Adoption
The material handling application segment is poised for strong growth in the RaaS market during 2023-2030 with a CAGR of 16.1%. Several major players in robotics have introduced new handling robots or expanded deployments, indicating rising adoption. For example, In June 2022, Caja Robotics partnered with Fives Group, an integrator of smart automation solutions and advanced material handling. This partnership would aim to solve challenges of warehouse automation across the European market.
Overcoming Labor Shortages
RaaS adoption is accelerating as companies face ongoing talent and skill shortages. For instance, Cobalt Robotics offers robots to patrol buildings for a solution that the company says is 65 percent cheaper than having human security guards to guard premises. FedEx planned to deploy SameDay Robotics' autonomous delivery bots in 2021 to address driver shortages. RaaS alleviates hiring difficulties across various industries.
Advances in Cloud Robotics and AI Driving Adoption
The integration of cloud computing, 5G, AI, and machine learning is enhancing RaaS capabilities. For example, Amazon’s contribution is the AWS RoboMaker, and it includes machine learning, monitoring, and analytics services. Moreover, Google is developing the Google Cloud Robotics Platform that combines artificial intelligence (AI), the cloud and robotics to enable “an open ecosystem of automation solutions that use cloud-connected collaborative robots.” As the technology underpinning RaaS advances, it will unlock more complex and flexible automation, propelling market growth.
Several Challenges Hamper the Market Growth
The Robotics as a Service (RaaS) market faces restraints including high initial costs, integration difficulties with legacy systems, lack of skilled workers, security and privacy concerns, and evolving regulations. Additional roadblocks are lack of awareness among potential end-users about the long-term cost savings of RaaS versus outright robotics purchases, and hesitance in some industries to adopt advanced automation. Overcoming adoption hurdles through education, ensuring cybersecurity, developing skilled workforces, and clear regulatory frameworks will be critical to unlocking the full RaaS opportunity. Though challenges persist, RaaS presents a compelling path forward for automating processes without major capital expenditures.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Robotics as a Service Market. The top 10 companies in this industry are listed below:
1. KUKA AG (KUKA ready2_use, kuka mobile platforms, kuka genius, kuka invictus)
2. Berkshire Grey Inc. (robotic product sortation, pick and pack identification)
3. Exotec (Skypod)
4. inVia Robotics.
5. Cobalt Robotics (Cobalt omni)
6. Locus Robotics (Locus Origin/Vector/Max)
7. Knightscope (K1, K3, K5, K7)
8. Intutive Surgical (Da Vinci, Ion)
9. Hirebotics (Cobot Welder/Cutter, ESAB Cobot)
10. iRobot Corporation (Roomba Vacuums, Braava Mops)
Scope of the Report:
1. Robotics as a Service Market - Overview
1.1. Definitions and Scope
2. Robotics as a Service Market - Executive Summary
3. Robotics as a Service Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Robotics as a Service Market - Start-up Companies Scenario
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Robotics as a Service Market – Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Robotics as a Service Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Robotics as a Service Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Robotics as a Service Market – by Service (Market Size – $Million/$Billion)
8.1. Personal
8.2. Professional
9. Robotics as a Service Market – by Application (Market Size – $Million/$Billion)
9.1. Inlaid Handling
9.2. Assembling & Disassembling
9.3. Dispensing, Processing
9.4. Welding & Soldering
9.5. Surveillance & Security
9.6. Others.
10. Robotics as a Service Market – by End-Use (Market Size – $Million/$Billion)
10.1. Manufacturing
10.2. Automotive
10.3. Healthcare
10.4. BFSI
10.5. Food & beverages
10.6. IT & Telecom
10.7. Retail
10.8. Aerospace & Defence
10.9. Media & Entertainment
10.10 .Logistics
10.11 .Others
11. Robotics as a Service Market – by Geography (Market Size – $Million/$Billion)
11.1. North America
11.1.1. The U.S.
11.1.2. Canada
11.1.3. Mexico
11.2. Europe
11.2.1. UK
11.2.2. Germany
11.2.3. France
11.2.4. Italy
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Asia-Pacific
11.3.1. China
11.3.2. India
11.3.3. Japan
11.3.4. South Korea
11.3.5. Australia & New Zealand
11.3.6. Rest of Asia-Pacific
11.4. South America
11.4.1. Brazil
11.4.2. Argentina
11.4.3. Chile
11.4.4. Colombia
11.4.5. Rest of South America
11.5. Rest of the World
11.5.1. Middle East
11.5.2. Africa
12. Robotics as a Service Market – Entropy
13. Robotics as a Service Market – Industry/Segment Competition Landscape
13.1. Market Share Analysis
13.1.1. Market Share by Services– Key Companies
13.1.2. Market Share by Application– Key Companies
13.1.3. Market Share by End User– Key Companies
13.1.4. Market Share by Region – Key Companies
13.1.5. Market Share by Country – Key Companies
13.2. Competition Matrix
13.3. Best Practices for Companies
14. Robotics as a Service Market – Key Company List by Country Premium
15. Robotics as a Service Market - Company Analysis
15.1. KUKA AG
15.2. Berkshire Grey Inc.
15.3. Exotec
15.4. inVia Robotics
15.5. Cobalt Robotics
15.6. Locus Robotics
15.7. Knightscope
15.8. Intutive Surgical
15.9. Hirebotics
15.10 .iRobot
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The Robotics as a Service Market is projected to grow at 15.6% CAGR during the forecast period 2023-2030.
Global Robotics as a Service Market size is projected to reach $8 billion by 2030
The leading players in the Robotics as a Service Market are KUKA AG, Berkshire Grey Inc., Exotec, Cyberdyne Inc., Cobalt Robotics and others.