Robotics as a Service (RaaS) Market to grow by USD 1.49 billion from 2022 to 2027, APAC accounts for 37% of the growth - Technavio
NEW YORK, Feb. 5, 2024 /PRNewswire/ -- The robotics as a service (RaaS) market is estimated to grow by USD 1.49 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 18.29% during the forecast period. APAC is estimated to contribute 37% to the growth by 2027. The region grows with government funding and international interest. Japan adopts robots due to an aging population, while labor availability impacts South Korea and Singapore.
Increased remote services and the adoption of IoT drives growth. The increasing use of the Internet has led customer service providers to offer more online options for interacting with customers and solving their problems. Additionally, there is a focus on ensuring interoperability, device-to-network security, and real-time data collection for proactive maintenance, driven by IoT technology, says a Senior Automotive Analyst at Technavio. Ademco Security Group Pte Ltd., Caja Elastic Dynamic Solutions Ltd., Cobalt Robotics Inc., Exotec SAS, Field Group AS are some of the major companies.
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Technavio has segmented the market based on Type (Professional and Personal ), Application (Intralogistics, Medical applications, Surveillance and security, Field robotics, and Others ), and Geography (APAC, North America, Europe, South America, and the Middle East and Africa).
- The professional segment will account for a major share of the market's growth during the forecast period. RaaS enables access to advanced automation without large upfront costs. It's used in manufacturing, healthcare, and logistics, with cobots gaining popularity. Cloud and AI enhance RaaS capabilities for operational optimization.
- The adoption of operational intelligence and data analytics are major trends.
- Lack of awareness and acceptance is a significant challenge restricting growth.
Insights on Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!
The Benefits of Robotics as a Service (RaaS)
Robotics as a Service (RaaS) offers various benefits leveraging Automation, Technology, and Computing to drive efficiencies in the Economy and Business. It enhances Logistics through Cloud computing and Warehouse automation, integrating Artificial intelligence for smarter operations. Cobot (collaborative robot) adoption enhances Systems engineering and Systems science, optimizing Business processes. RaaS fosters innovation by integrating Machine learning and other Emerging technologies, offering a high Return on investment. It revolutionizes Supply chain management, offering scalable solutions for businesses looking to optimize their operations.
What are the key data covered in this Robotics As A Service (RaaS) Market report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth between 2023 and 2027
- Precise estimation of the size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Robotics As A Service (RaaS) industry across APAC, North America, Europe, South America, and the Middle East and Africa
- A thorough analysis of the competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of Robotics As A Service (RaaS) companies
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Type
Segmentation by Application
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
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SOURCE Technavio
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