The global robot as a service market was worth USD 14.5 billion in 2021 and is projected to reach USD 44 billion by 2028, growing 16.5% annually. The paper examines how robot as a service market drivers, restrictions, and challenges affect demand during the forecast period. The paper also examines robot-as-a-service market opportunities.
Market Overview
Service Robot (RaaS) allows robots and embedded devices to seamlessly integrate into online and cloud computing settings. Robots as a service benefit customers and robotic companies. Three aspects are needed to deploy a robot as a service in an organisation: suitable tools, evaluating the company’s service needs, and choosing a provider. This solution lowers manual IT support and boosts robotic productivity.
Robots as a Service lets organisations benefit from robotic process automation (RPA) by licencing robots and using a cloud-based subscription service. Honda, a Japanese automaker, launched a robot-as-a-service (RaaS) platform to offer SMEs and large organisations a selection of robots and cloud-based data services for data sharing, robotic cooperation, and communication.
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Growth Drivers
Market growth is expected due to rising demand for professional robots in various sectors. Automation is needed in many professional fields. RaaS professional applications include humanoid robots, laundry robots, inspection robots, autonomous underwater vehicles (AUVs), construction robots, unmanned surface vehicles (USVs), telepresence robots, agricultural robots, robotic kitchens, ROVs, and exoskeletons. The German non-profit IFR (International Federation of Robotics) reported 2017 sales of professional service robots at USD 5,200 million.
These defence and logistics robots use cutting-edge technologies including artificial intelligence. Logistics service robots handle, transport, sort, package, and deliver. These factors will boost market growth over the predicted period.
The global robot as a service market is segmented as follows:
By Service Type
- Personal
- Professional
By End-User
- Healthcare
- BFSI
- Food & beverage
- IT & Telecom
- Retail
- Defense
- Media & Entertainment
- Logistics
- Others
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Regional Insight by FnF Research
Europe dominates the global robot as a service market, owing to increased demand for personal and professional robots in numerous nations throughout the region. According to the International Federation of Robotics, Europe has the highest concentration of manufacturers, at approximately 44 percent, due to rising demand from industries such as defense, medical, logistics, and retail. Furthermore, with the increasing acceptance of robotics solutions in these regions, countries such as Italy, France, Germany, and the United Kingdom are expected to develop significantly in this market throughout the projection period.
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