Robotics-as-a-Service Market by Robot Type (Mobile, Stationary), Service Type (Personal, Professional), Application, Vertical - Global Forecast 2024-2030

[196 Pages Report] The Robotics-as-a-Service Market size was estimated at USD 2.33 billion in 2023 and expected to reach USD 2.74 billion in 2024, at a CAGR 18.54% to reach USD 7.68 billion by 2030.

Robotic-as-a-service (RaaS) is a cloud-based rental robotic system that facilitates users to install robotics without requiring the necessary infrastructure more traditional robotics implementations require. RaaS uses locally installed robotic hardware with cloud-based automation and programming, allowing the users to connect power, program the robot, and start using it. RaaS attracts business interest because it is more flexible, scalable, and affordable than traditional robotics programs. These features make robotics accessible to small and medium-sized organizations without the typically prohibitive initial investment. The surging demand in the defense and military sector and rising government funding for advanced research activities are driving the growth of the RaaS market. However, safety issues and the requirement for huge capital may hamper the development of the RaaS market. Nevertheless, integrating modern technologies and emerging potential in the logistics sector creates lucrative opportunities for the robotics-as-a-service market.

The continuous use of cutting-edge technologies and favorable funding situations for robotic automation has caused a considerable evolution in the robotic-as-a-service business in America in recent years. The US government developed the National Robotics Initiative (NRI) across the country to assist fundamental robotics R&D. The main objectives center on the basic science, technology, and integrated systems required to realize a vision of ubiquitous collaborative robots aiding people in all facets of life and broadening market potential in the region. The 8th Framework Programme of the European Union, Horizon 2020, also funds robotics projects that cover a wide range of research and innovation subjects, including manufacturing, commercial, and healthcare applications, as well as consumer, transportation, and agri-food robots. Over the program's seven-year lifespan, European Commission will support robotics research and innovation to an estimated USD 780 million. Due to the engagement of numerous countries, including China, Japan, South Korea, Singapore, Australia, and many others, the robotics-as-a-service industry is also expected to grow significantly in the Asia-Pacific region. The Intelligent Robot Development and Supply Promotion Act of Korea is working on expanding the RaaS market area in the Asia-Pacific region and growing the robot industry in Korea as a core industry in the fourth industrial revolution.

The market dynamics represent an ever-changing landscape of the Robotics-as-a-Service Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Increasing usage of robotics services for automation in personal and industrial sector
  • Growing importance of robotics in military and defense sector
  • Rising government research funding to develop advanced robotic technologies
• Market Restraints
  • High initial investment cost associated with robotics owing to the presence of advanced components
• Market Opportunities
  • Integration of modern technologies in robotics to perform complex tasks
  • High potential of mobile robotics across logistics sector
• Market Challenges
  • Trust and safety issues associated with robotics services

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Robotics-as-a-Service Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Robotics-as-a-Service Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Robotics-as-a-Service Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

• Otto Group Enters Strategic Partnership with Covariant to Power its Logistics Network with AI Robotics.

  The Otto Group, a international retail and services provider, has entered into a strategic partnership with Covariant.ai to power its logistics network with Artificial Intelligence (AI) Robotics. This innovative collaboration brings together the Otto Group's expertise in e-commerce logistics and Covariant.ai's AI capabilities to provide an end-to-end robotic solution that will support the Otto Group's global operations. By leveraging the combination of their strengths, they aim to create an AI Robotics-as-a-Service platform which will enable smart logistics networks at scale and establish a new benchmark for efficiency, cost savings and customer experience within the industry. [Published On: May 09, 2023]

• Plus One Robotics Raises USD 50 Million in Funding, Led by Scale Venture Partners, to Capitalize on USD 128 Billion Market Opportunity.

  Plus One Robotics, a provider of Robotics-as-a-Service (RaaS), recently announced the closure of a Series B funding round totaling USD 50 million, led by Scale Venture Partners. The funding will be used to capitalize on the USD 128 billion robotics market opportunity across industries from warehousing and logistics to manufacturing. With this new capital injection, Plus One Robotics is well positioned to continue its leadership in the RaaS space and help businesses take advantage of the latest robotic technology to automate tasks and increase efficiency. [Published On: March 07, 2023]

• Verdant Robotics Raises USD 46.5 Million to Reduce Ag Chemicals, Improve Farm Profits.

  Verdant Robotics has recently raised USD 46.5 million to help reduce agricultural chemicals and improve farm profits. This investment will allow them to expand their robotics-as-a-service platform, which has so far been successfully implemented in several countries across the globe. With this new wave of funding, they are sure to further enhance their platform and bring farmers increased profitability without compromising the environment or public health. [Published On: November 29, 2022]

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Robotics-as-a-Service Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The report delves into recent significant developments in the Robotics-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include Augean Robotics, Inc., Berkshire Grey, Inc., Cobalt Robotics, Inc., Electric Sheep Robotics, Exotec, Fetch Robotics, Inc. by Zebra Technologies Corporation, Formant, Inc., Geekplus Technology Co., Ltd., Grey Orange Pte. Ltd., HAHN Robshare GmbH, HAI ROBOTICS Co., Ltd., Hirebotics, Honda Motor Co., Ltd., InVia Robotics, Inc., Locus Robotics Corporation, Mediland Enterprise Corporation, Nuro, Inc., Proven Robotics, Relay Robotics, Inc., RIOS Intelligent Machines, Inc., Ronavi robotics LLC, Rovco, Ltd., Sisua Digital Oy, ST Engineering Aethon, Inc., Starship Technologies, Inc., Terradepth, Tiny Brain Robotics Inc., and Vecna Robotics, Inc..

This research report categorizes the Robotics-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Robot Type
  • Mobile
    • Automated Guided Vehicles (AGVs)
    • Autonomous Mobile Robots (AMRs)
    • Humanoids
    • Hybrids
  • Stationary
    • Articulated Robots
    • Cobots
• Service Type
  • Personal
  • Professional
• Application
  • Assisting
  • Dispensing
  • Handling
  • Inspection
  • Processing
• Vertical
  • Aerospace & Defense
  • Automotive & Transportation
  • Business & Finance
  • Construction
  • Energy & Natural Resources
  • Government & Public Sector
  • Healthcare & Pharmaceuticals
  • Manufacturing

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?