Robotics as a service Market Size is Reach at $6.8Bn by the end of 2025 – KD Market Insights

The Global robotics as a service market was valued at USD 1.8 Billion as of the year 2019 and is expected to grow to about USD 6.8 Billion by 2025’s end and growing at an annual compound growth rate (CAGR) of 6 percent during the timeframe 2019-2025. Robotics as a Service (RaaS) is an aspect of artificial intelligence (AI) that integrates cloud computing with shared service. Companies are increasingly adopting this Robot as a Service (RaaS) platform due to its flexibility, scalability as well as lower price contrasted with the traditional robots system. Small and medium-sized companies benefit from RaaS’s advantages. RaaS platform without having to make huge initial investments. For instance, Honda, a Japanese automotive company, recently introduced a robot-as-a-service (RaaS) platform that will provide SMEs as well as large corporations with a variety of robots as well as cloud-based data services that facilitate robot cooperation, communication, and sharing of data.

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Some of the key players in the market include iRobot, Softbank, Intuitive Surgical, DeLaval, Daifuku Co., Ltd., CYBERDYNE INC.,DJI, KONGSBERG, Northrop Grumman, Neato Robotics, Inc., ecoRobotix Ltd, Starship Technologies, KUKA AG, Parrot, Aethon, Lely, Dematic, Bastian Solutions, LLC, and OMRON Corporation amongst others.

During the projection period, the market expansion will be fuelled by the increasing acceptance of professional robots in a variety of industries.

In the coming year’s forecast, the market is predicted to expand due to the increasing demands for professional robots across many industries. This is likely to be due to the growing demand for automated solutions across a range of professional areas. Robots for inspection, agricultural robots, humanoid robots exoskeletons, construction robots robotic kitchens, laundry robots and unmanned surface vehicles (USVs) and autonomous underwater vehicles (AUVs) and remotely controlled vehicles (ROVs) inspection robots, and telepresence robots are a few of the applications that professionals can make use of RaaS.

The Asia Pacific Region Expected to Witness Fastest Growth in the Global Robotics as a Service Market

Asia-Pacific is one of the world’s fastest expanding regions. It will also have the largest market over the projected period, thanks to the widespread deployment of service robots in countries such as China, Japan, and India.

Regional governments play an important role in the growth of a regional robotics market. India, for example, intends to invest in military robotics and is planning to deploy advanced robotic soldiers by 2023. The Chinese government has big hopes for the robotics industry in the country. The government has designated the robotics industry, together with AI and automation, as one of the key areas for high-end growth in order to accelerate the industrial industry’s transformation and upgrade. This drive is expected to boost Chinese-made robots’ global market share.

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 “Robotics as a service Market – By Type (Professional Service Robots, Personal Service Robots), By End-Use Industry (IT & Telecom, BFSI, Defense, Logistics, Healthcare, Retail, Food & Beverage, Media & Entertainment, Others), and By Region – Global Comprehensive Analysis, Forecast (2019-2025), Industry Perspective.

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

By Type:

Professional Service Robots
Personal Service Robots

By End Use Industry:

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

By region:

North America
The U.S.
Canada

Europe
France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
GCC
South Africa
Rest of the Middle East & Africa

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Recent Developments:

In January 2021 Hyundai Robotics, a Danish company that provides comprehensive robotics solutions, and is an entirely owned subsidiary of Hyundai Heavy Industries (HHI) Holdings has released robotics for food service and beverages that are suited for the catering and restaurant industry.
In September 2020, due to the increase in automation of the business, Alibaba, a Chinese multinational e-commerce company, introduced logistics robots for delivery. Additionally, the logistics industry is using robots and automated systems to reduce social distance and limit the transmission of coronavirus.
In October, Dematic plans to install an order fulfillment robot in Drakes Supermarket, an independent grocery store located in Australia. Utilizing a “goods-to-robot” configuration the robot system was employed to choose the items in inventory for retail shop replenishment.

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