Robotics as a service Market - By Type, By End Use Industry & Global Region - Market Size, Trends, Opportunity, Forecast 2021-2026
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RaaS (Robotics as a Service) is an artificial intelligence (AI) subset that mixes cloud computing with shared services. When compared to traditional robotics systems, businesses are rapidly adopting the Robot as a Service (RaaS) platform because of its flexibility, scalability, and lower cost. The RaaS platform can benefit small and medium-sized businesses without requiring a substantial upfront expenditure. For example, Honda, a Japanese automaker, established a robot-as-a-service (RaaS) platform to supply SMEs and large businesses with a wide range of robots and cloud-based data services to facilitate communication, robotic collaboration, and data sharing.
The global robotics as a service market is expected to grow at a CAGR of around 6% over the period of next 5 years.
During the projected period, the market is expected to increase due to rising demand for professional robots in a variety of industries. This can be linked to the increased need for automated solutions in a variety of professional fields. Agricultural robots, for example, are a professional application of RaaS. Robotic kitchens, laundry robots, unmanned surface vehicles (USVs), autonomous underwater vehicles (AUVs), remotely operated vehicles (ROVs), inspection robots, and telepresence robots are all examples of inspection robots.
According to figures from the IFR (International Federation of Robotics), a non-profit organisation based in Germany, sales of professional service robots were US$ 5,200 million in 2017.
To further expand their capabilities in the defence and logistics sectors, these robots are equipped with modern technologies such as artificial intelligence. Handling, transport, sorting, packaging, delivery, and a variety of other operations are performed by these service robots in the logistics industry.
During the forecast period, the market is expected to rise due to ongoing technological advancements. Qualcomm, a semiconductor manufacturer based in the United States, for example, unveiled its first 5G and AI-enabled robotics platform for the consumer, enterprise, defence, industrial, and professional service sectors in June 2020. According to the International Federation of Robotics (IFR), a non-profit organisation based in Germany, yearly robot installations increased to 422 thousand in 2018 from 250 thousand in 2015. In addition, the development of robotics is predicted to boost productivity and economic growth in emerging countries. In developing economies, the robot as a service platform has the potential to open up a slew of new opportunities in a variety of industries. Furthermore, the era of automation and robots offers potential in the home industry.
The market is growing because to the growing requirement to monitor, control, and manage many processes in the logistics, food and beverage defence, and domestic sectors, as well as rising labour costs. Due to an increase in demand for human support jobs, as well as a desire to decrease work pressure and promote high efficiency in repetitive duties in the workplace, robots as a service are gaining popularity. For example, in January 2021, Hyundai Robotics, a Danish business that offers comprehensive robotics solutions and is a wholly-owned subsidiary of Hyundai Heavy Industries (HHI) Holdings, released food and beverage service robots for the restaurant and catering industries.
ROBOTICS AS A SERVICE MARKET SEGMENTATION:
- Professional Service Robots
- Personal Service Robots
By End Use Industry:
- IT & Telecom
- Food & Beverage
- Media & Entertainment
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
In 2020, North America dominated the global Robot as a Service market, and it is likely to continue to do so during the forecast period. The need for services robotics in North America has increased as a result of increased investments in sophisticated technologies, increased research and development, and acceptance of significant technologies in the region. Furthermore, the region's market share has increased due to a large increase in the usage of surgical robots in the healthcare business.
.Due to the increased adoption of services robots in China, Japan, India, and other countries, Asia Pacific is predicted to rise significantly throughout the projection period. Regional governments also play an important role in the market's development of regional robotics demand. India, for example, intends to invest in military robotics and is planning to deploy advanced robotic soldiers by 2023.
FEW KEY PLAYERS IN Robotics as a service MARKET:
- Bastian Solutions, LLC
- CYBERDYNE INC.
- Daifuku Co., Ltd.
- ecoRobotix Ltd
- Intuitive Surgical
- KUKA AG
- Neato Robotics, Inc.
- Northrop Grumman
- OMRON Corporation
- Starship Technologies
- In January 2021, Hyundai Robotics, a Danish business that offers comprehensive robotics solutions and is a wholly-owned subsidiary of Hyundai Heavy Industries (HHI) Holdings, released food and beverage service robots for the restaurant and catering industries.
- In September 2020, Due to the increasing industrial automation in the industry, Alibaba, a Chinese multinational e-commerce corporation, debuted logistics robots for deliveries. In addition, the logistics industry is employing robotics and automation to reduce social distance and limit the transmission of the corona virus.
- In October 2018, Dematic plans to install a robotic order fulfilment system for Drakes Supermarket, an independent grocery shop in Australia. Using a "goods-to-robot" setup, the robotic system was used to pick inventory items for retail shop replenishment.
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