Robotics as a Service Market Size, Industry Report, Share, Analysis 2028

 

Robotics as a Service Market size is valued at USD 1.8 billion in 2023 and is anticipated to USD 4.0 billion by 2028; growing at a CAGR of 17.4% from 2023 to 2028. Factors such as rising demand for collaborative robots across industries and robotics as a service lowers cost in long run are fueiling the market growth for market.

Driver: Lowers cost in long run

Robotics as a service model offers customers a lower cost of upfront investment, as well as provides an opportunity to subscribe for access to a complete, connected, and interoperable autonomous mobile robotic fleet with the latest enhancements. In contrast to traditional ways of buying and implementing industrial automation, paying per item of work speeds up the Return On Investment (ROI) and reduces the Total Cost of Ownership (TCO) for the deployment in comparison to traditional buying and implementing methods. A significant advantage of the robotics as a service model is that operators of robotics as a service are constantly updating and improving their technology, so customers do not have to worry about obsolescence.

Restraint: Lack of interaction between robots and human workforce

Robots require expert programming and training to perform tasks, so companies need to hire experienced engineers and programmers to oversee the installation of robots. On top of that, even experienced personnel might need retraining when new software is developed or new robots appear on the market. The complexity of challenging real-world tasks requires robotics systems with the spatial, temporal, physical, and social understanding that can be best addressed by a broad range of methodologies and tools.

Opportunity: Data-driven process improvement

Large-scale machine learning is one of the greatest triumphs of artificial intelligence in the last decade. Robotics as a service is able to achieve the goal of democratizing robotics automation because it lowers the cost of entry for users and brings cutting-edge robotics technology to warehouses of all sizes. Robotics research has provided a wealth of powerful models for perception, estimation, planning, compliant strategies, and control and its guarantees. With cloud technology, cloud-based systems can communicate data smoothly to any distribution channel to aid with the supply chain, which in turn can help with the complete value chain and improve costs over the long term for businesses.

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Challenge: Interoperability and integration issues

The amount of customization required for the robots to be useful for specific organizations still needs to be overcome. It is important to note that although a base platform might be the same across many entities, adaptations will need to be made for a robot to function, which will cause a longer implementation window as well as increased costs. Robotics as a service is the solution of choice for many organizations, regardless of the growing pains involved. Providing technical expertise, upskilling human workers, and improving a common base, with improved robotic tools and general collaborative robots, are critical pieces of the puzzle robotics as a service organizations need to get a better handle on to improve the adoption of smarter robotics.

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