Robots-as-a-Service Market value expected to rise to $8.4 billion by 2030.
The latest report by Meticulous Research® titled, 'Robots-as-a-Service Marketby 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,' reveals that the robots-as-a-service (RaaS) market is set to reach $8.4 billion by 2030. This growth represents a CAGR of 16.7% from 2024 to 2030. Key drivers behind this market growth include the increasing use of RaaS in healthcare for better clinical and surgical outcomes, the preference for RaaS due to its scalability and cost benefits compared to other automation solutions, and the rising integration of RaaS in manufacturing. Additional factors contributing to market expansion include the rise of automation in hospitality and agriculture, the drive to reduce manual labor, and the emergence of Industry 5.0.
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Nonetheless, challenges such as robot mobility limitations and safety issues when integrating robots with existing industrial systems continue to hinder market progress.
The robots-as-a-service market is categorized by robot type and end user, with a detailed analysis of industry players and regional market conditions.
In terms of robot type, the market is divided into industrial, commercial, and domestic robots. The industrial segment is expected to dominate in 2024 and show the highest CAGR during the forecast period. This segment’s growth is driven by increasing demand across various sectors including logistics, defense, construction, and healthcare, alongside rising automation needs, high labor costs, and a shortage of skilled professionals.
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 projected to hold the largest share in 2024, owing to its extensive use in picking, packing, and delivery, the demand for autonomous mobile robots in warehouses, and the emphasis on safety and risk management. The healthcare segment, however, is expected to grow at the highest CAGR due to an increase in surgical procedures, reduced human error, improved precision, and the adoption of advanced surgical systems.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to have the largest market share in 2024, driven by high investments in technology, significant R&D spending, and the adoption of technologies like surgical robots and AGVs & AMRs in manufacturing. Meanwhile, Asia-Pacific is projected to record the highest CAGR throughout 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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