Robots-as-a-Service Market to Be Valued at $8.4 Billion by 2030
Meticulous Research® has released a new 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.' The report forecasts that the robots-as-a-service (RaaS) market will reach $8.4 billion by 2030, growing at a CAGR of 16.7% from 2024 to 2030. This growth is fueled by several factors including the increasing use of RaaS in healthcare for improved clinical and surgical performance, a shift towards RaaS due to its scalability and cost advantages over other automation technologies, and greater adoption in manufacturing. Additional growth drivers include rising automation in hospitality and agriculture, efforts to reduce manual labor, and the rise of Industry 5.0.
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Challenges such as limited mobility and safety concerns associated with robots in industrial settings continue to impact market growth.
The report segments the robots-as-a-service market by robot type and end user and provides an analysis of market competitors and regional trends.
The robot type segmentation includes industrial, commercial, and domestic robots. The industrial robots segment is expected to hold the largest share in 2024 and exhibit the highest CAGR throughout the forecast period. This growth is attributed to increasing demand across industries such as logistics, defense, construction, and healthcare, coupled with rising automation and mobility needs, high labor costs, and a shortage of skilled workers.
For end users, the market is segmented into agriculture, inspection and maintenance, healthcare, search & rescue, hospitality, professional cleaning, transport & logistics, gardening, and other sectors. The transport & logistics segment is expected to have the largest market share in 2024, driven by its extensive application in picking, packing, and delivery, the growing demand for autonomous mobile robots in warehouses, and enhanced safety and risk mitigation. The healthcare sector is projected to register the highest CAGR, due to increased surgical procedures, minimized human error, improved precision, and the adoption of advanced surgical technologies.
Regionally, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the market in 2024, driven by substantial investments in technology, significant R&D expenditure, and the adoption of technologies such as surgical robots and AGVs & AMRs in manufacturing. Asia-Pacific is projected to experience the highest CAGR during the forecast period.
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/robots-as-a-service-market-5519
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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