At 16.5% CAGR, Global Robot as a Service (RaaS) Market Size

Tokyo, Japan, March 14, 2022 (GLOBE NEWSWIRE) – Facts and Factors has published a new research report titled Robot as a Service (RaaS) Market By Service Type (Personal and Professional), By End-User (Healthcare, BFSI, Food & Beverage, IT & Telecom, Retail, Defense, Media & Entertainment, Logistics, and Others), and By Region-Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028 ” in its research database.

“According to the latest research study, the demand of global Robot as a Service Market size & share was valued at roughly USD 14.5 billion in 2021 and is expected to reach USD 44 billion by 2028, at a compound annual growth rate (CAGR) of about 16.5% during the forecast period 2022 to 2028. ”

The report explores the robot as a service (RaaS) market’s drivers, restraints, and challenges and the effect they have on the demands during the projection period. Furthermore, the report explores upcoming opportunities in the robot as a service market.

What is Robot as a Service? How big is the Robot as a Service Market?

Robot as a Service (RaaS) is a cloud services unit that enables the seamless integration of robots and embedded devices into online and cloud computing environments. Customers and robotic enterprises both gain from robots as a service. Robots as a service enable businesses to reap the rewards of robotic process automation (RPA) by licensing robotic gear and utilizing a cloud-based subscription service. The key advantage of employing this technology is that it reduces the need for manual IT support while increasing the efficiency of robotic procedures. The deployment of a robot as a service in an organization is dependent on three factors: first, the use of proper tools to operate the robot as a service; second, determining the precise level of services needed by the company; and third, selecting a vendor to assist the robot as a service.

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(The free sample of this report is readily available on request).

Our Free Sample Report Includes:

  • 2022 Updated Report Introduction, Overview, and In-depth industry analysis
  • COVID-19 Pandemic Outbreak Impact Analysis Included
  • 221+ Pages Research Report (Inclusion of Updated Research)
  • Provide Chapter-wise guidance on Request
  • 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of tables & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Industry Major Market Players

  • KUKA AG
  • Parrot SA
  • Lely International
  • DJI
  • Northrop Grumman
  • Intuitive Surgical Inc.
  • Aethon Inc.
  • Kongberg Maritime AS
  • Honda Motor Co. Ltd.
  • iRobot Corporation.

Key Insights & Findings from the report:

  • According to our primary respondents’ research, the Robot as a Service market is predicted to grow at a CAGR of roughly 16.5% during the forecast period.
  • The Robot as a Service market was estimated to be worth roughly USD 14.5 billion in 2021 and is expected to reach USD 44 billion by 2028; based on primary research.
  • Based on the service type segment, the Professional Robots category is predicted to increase at an exponential rate throughout the forecast period.
  • On the basis of region, Europe is projected to dominate the worldwide robot as a service market.

Key questions answered in this report:

  • What is the size of the Robot as a Service market and what is its expected growth rate?
  • What are the primary driving factors that push the Robot as a Service Market forward?
  • What is the Robot as a Service Industry top companies?
  • What are the different categories that the Robot as a Service Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What are the procedures for getting a free copy of the Robot as a Service Market sample report and company profiles?

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Global Robot as a Service Market: Growth Factors

  • Growing demand for professional robots in a variety of industries is likely to fuel market expansion

During the projected period, the growing demand for professional robots in a variety of industries is expected to fuel the global robot as a service market expansion. This is due to the increased need for automated processes in a variety of professional sectors. Robot as a service is gaining popularity due to an increase in the impact of human assistance jobs, the reduction of work pressure, and the support of maximum reliability in repetitive operations in industries. However, the annual maintenance cost of service robots is very high and this limits the ability of businesses, particularly small and medium-sized businesses, to invest. This is likely to hamper the market growth during the coming period.

Global Robot as a Service Market: Report Scope

Report Attribute Details
Market Size in 2021 USD 14.5 Billion
Projected Market Size in 2028 USD 44 Billion
CAGR Growth Rate 16.5% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players KUKA AG, Parrot SA, Lely International, DJI, Northrop Grumman, Intuitive Surgical, Inc., Aethon Inc., Kongberg Maritime AS, Honda Motor Co. Ltd., and iRobot Corporation., Among others
Key Segment By Service Type, By End-User, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Segmentation Analysis

The global robot as a service market is segregated on the basis of service type, end-user, and region.

  • Professional robots have a larger market share, which is expected to grow at an exponential rate throughout the forecast period.

By service type, the market is divided into personal and professional. The professional robots category has a bigger market share and is predicted to increase at an exponential rate throughout the forecast period. This is mostly due to increased demand for service robots in areas such as defense, construction, medical, logistics, and others.

By end-user, the market is classified into healthcare, BFSI, food & beverage, IT & telecom, retail, defense, media & entertainment, logistics, and others. Because of the automation brought by the act of moving and storing goods, the logistics segment has the largest stake. In addition, there is a growing need for service robots in order to streamline supply chain procedures across sectors. Medical service robots are expected to develop significantly as people turn towards incorporating robotic solutions for important medical procedures and with the advent of high-tech research facilities.

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Regional Dominance:

  • Europe region is expected to dominate the global robot as a service market

Europe dominates the global robot as a service market, owing to increased demand for personal and professional robots in numerous nations throughout the region. Europe has the highest concentration of manufacturers, at approximately 44 percent, due to rising demand from industries such as defense, medical, logistics, and retail. Following Europe, Asia Pacific held the second-largest share and is expected to grow at the fastest rate.

This is primarily due to increased R&D activity in the industrial robot industry, as well as increased government funding in robotics, automation, artificial intelligence, and other technologies. According to World Robotics 2018, over 35% of service robot manufacturers are present in North America, raising the potential growth of the market.

Browse the full Robot as a Service Market By Service Type (Personal and Professional), By End-User (Healthcare, BFSI, Food & Beverage, IT & Telecom, Retail, Defense, Media & Entertainment, Logistics, and Others), and By Region- Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028 ” Report at https://www.fnfresearch.com/robot-as-a-service-market

Recent Developments

  • July 2021: ABB purchased the ASTI Mobile Robotics Group in order to accelerate the development of flexible automation employing mobility devices. The acquisition strengthens the company’s Robotics and Machine Automation solutions, enabling it to offer a unique automation portfolio and expand into new business areas.
  • April 2021: Panasonic Corporation has released a systematic model of their Walk Training Robot, which is intended to provide effective and safe walking training for older people. In addition, the company provides a robot-assisted solution to hospitals, institutions, and other organizations.

The global robot as a service market is segmented as follows:

By Service Type

By End-User

  • Healthcare
  • BFSI
  • Food & beverage
  • IT & Telecom
  • Retail
  • Defense
  • Media & Entertainment
  • Logistics
  • Others

By Region

  • North America
    • The US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Key Offers:

  • Market Size, Share, Trends & Forecast by Revenue | 2022−2028
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis by Service Type, End-User, and Region
  • Competitive Landscape – Key Vendors and Other Prominent Vendors

Click Here to Get Free Sample Report of the Global Robot as a Service Market @ https://www.fnfresearch.com/sample/robot-as-a-service-market

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