New York, March 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Robotics as a Service Market Size, Share & Industry Trends Analysis Report By Application, By End User, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06435099/?utm_source=GNW
RaaS is advantageous for both consumers and robotic businesses. By leasing robotic equipment and leveraging a cloud-based subscription service, robots as a service enable organizations to benefit from robotic process automation (RPA). This technology’s main benefit is that it lessens the requirement for manual IT assistance while enhancing the effectiveness of robotic processes.
Three things are necessary for the deployment of a RaaS in an organization. First, the use of appropriate tools to control the RaaS. The second is to determine the specific degree of services the company requires. The last is to choose a vendor to support the RaaS. X-as-a-Service business models, which supply a specific service instead of a new product to execute the service, are already widespread in the sector. The biggest change in models like this is substituting a billing structure based on the services rendered rather than the product itself for a proportionately high up-front product price.
This is especially true for robotics because users of RaaS business models can access a cloud-based subscription facility and lease robotic devices to gain the advantages of robotic process automation (RPA) rather than buying the hardware outright. RaaS eliminates the hassles of ownership, like paying off a costly piece of equipment and resolving unexpected maintenance needs.
Agile and lean processes are always desired in many industries; businesses should be able to quickly alter operations or output in accordance with market developments. RaaS enables quick changes in product kinds, such as moving swiftly from grid-based "shelve-to-person" automated guided carts (AGCs) to "carton-to-person" case-picking robots. In addition, customers can start or stop mobile robotic systems at any moment as needed. RaaS makes it possible to scale the fleet size more easily and conveniently without worrying about the dangers of future fleet size reductions.
COVID-19 Impact Analysis
The manufacturing curve for semiconductors and electronics also flattened but stayed steady after the pandemic. Additionally, because of the COVID-19 outbreak, there has been an increased focus on reducing hospital-acquired infections, encouraging the adoption of robots for cleaning and sanitation tasks. Robotic technologies, like cleaning and disinfection maintenance robots, were used to combat COVID-19. Increasing uninfected demand gave service robots a new home in this field. Most manufacturers authorized new disinfection robots as a result. The adoption of industrial robots has also reportedly benefited several manufacturing enterprises. Therefore, the pandemic favorably impacted robotics as a service market.
Market Growth Factors
Reduces costs over time and prevents obsolescence
The usage of robotic systems and automation has gradually increased because of labor scarcity and the need to reduce costs. For instance, autonomous forklifts are predicted to be driven by rising warehouse rents and dwindling warehouse availability. In addition, automated handling replaces human interaction in routine tasks, including accurate item storage at a predetermined location, item retrieval, and damage-free delivery of products to certain processing or interface points. Hence, using autonomous forklifts optimizes space utilization while lowering labor expenses. Therefore, the lower costs of operation of robotics and subsequent increase in profits, in the long run, are the primary factors boosting the growth of the robotics as a service market.
Rising growth of the cloud-based models and 5G
The rising use of robots in production facilities worldwide has led to a steady increase in demand for cloud robotics. Cloud robotics aims to integrate system intelligence with the production robots already in place. A high-performance network like 5G, which offers better bandwidth and reduced latency than Wi-Fi, is now required due to the increased usage of cloud robotics in the industrial industry. Real-time video and large dataset activities are supported by 5G. Because it makes it simple to integrate factory-deployed robots with the cloud network, it is becoming more popular in robotics. The market for robotics as a service will grow in the upcoming years due to all these factors.
Market Restraining Factors
Absence of connection between robots & human workforce
Companies must employ skilled engineers as well as programmers to supervise the deployment of robots since they need expert coding and training to carry out jobs. On top of that, when novel software is created, or new robots hit the market, even experienced staff members may require retraining. Moreover, robotic systems must have the temporal, physical, spatial, and social awareness that can be better handled by a wide range of approaches and technologies due to the complexity of difficult real-world tasks. As a result, the market’s growth in the upcoming years may be hampered by the lack of contact caused by the complexity of these systems.
Application Outlook
On the basis of application, the robotics as a service market is divided into handling, assembling & disassembling, dispensing, processing, welding & soldering, and others. The handling segment acquired the largest revenue share in the robotics as a service market in 2021. The rapid use of RaaS in the logistics industry is responsible for the segment’s growth. Automating repetitive processing processes like polishing and burring, used in the automotive, plastics, rubber & chemicals, and wood sectors leads to optimal processing. These processing applications are typically carried out by SMEs in their manufacturing facilities. The use of RaaS to automate processing operations is anticipated to increase during the projected period due to the rapid expansion of large-scale industries.
End User Outlook
Based on end user, the robotics as a service market is segmented into manufacturing, automotive, aerospace & defense, logistics, healthcare, retail, food & beverages, media & entertainment, and others. The manufacturing segment procured a remarkable growth rate in the robotics as a service market in 2021. The growing trend of autonomous procedures in factories and industries has accelerated the segment’s growth. Factories frequently use RaaS systems to improve productivity and streamline processes. They can lessen time limitations and error rates as a result. Even for small companies, the growing usage of robotic systems has greatly reduced operational expenses, accelerating the adoption of RaaS.
Regional Outlook
On the basis of region, the robotics as a service market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed the highest revenue share in the robotics as a service market in 2021. In North America, small and medium-sized businesses mostly utilize robotics as a service. One of the biggest markets in the region for RaaS is the United States. Robotics is becoming more prevalent in the automobile industry with the introduction of hybrid and electric vehicles. Growing North American businesses are investigating using robots to carry out unpleasant and hazardous tasks.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Berkshire Grey, Inc., Kuka AG (Midea Investment Holding Co., Ltd.), Cyberdyne, Inc., Knightscope, Inc., Locus Robotics, Exotec SAS, Caja Robotics, Hirebotics, Cobalt Robotics and Relay Robotics, Inc.
Recent Strategies Deployed in Robotics as a Service Market
Partnerships, Collaborations & Agreements:
Jan-2023: Locus Robotics announced partnership with Berkshire Grey, a provider of AI-enabled robotic solutions that automate supply chain processes. Under this partnership companies would release their integrated solutions that combine the Berkshire Grey Robotic Shuttle Put Wall with Locus Origin and Locus Vector bots. Moreover, this partnership allows Locus Robotics’ customers to take the advantage of enterprise level robotic automation in some of its most business-critical supply chain processes.
Jan-2023: Cobalt Robotics collaborated with johnson Controls, a global leader in smart buildings, creating safe, healthy and sustainable spaces. Under this partnership, Cobalt’s remote guard service would be integrated with Johnson Controls C•CURE 9000 access control and event management system. Moreover, with this combination, Cobalt robots listen for alarms and are automatically placed to the location in real-time.
Aug-2022: Berkshire Grey, Inc. signed an agreement with FedEx Corp., a provider of wide suite of business, e-commerce and transportation services. Under this agreement, companies would continue innovations in robotic automation that can take off barriers within the supply chain, simplify the physical load on employees and smooth operations.
Jun-2022: Caja Robotics partnered with Fives Group, an integrator of smart automation solution and advanced material handling. This partnership would aim to solve challenges of warehouse automation across European market.
May-2022: Berkshire Grey, Inc. came into partnership with Logistex, a provider of warehouse management system and system integrator. This partnership would aim to help companies grow instead of labour scarcity and logistics issues that are twisting supply chains worldwide.
Mar-2022: Berkshire Grey, Inc. partnered with Swisslog, a provider of data-driven robotics solutions. The partnership would aim to offer robotic solutions to help e-commerce, grocery and retail customers meet the needs of connected customers during the time of managing widespread labor scarcity.
Mar-2022: KUKA came into collaboration with Wiksfors Technology AB, a start-up focused on the modular house manufacturing industry. This collaboration would allow both companies to meet rising demand for robotics and automation in the construction industry globally.
Feb-2022: Knightscope, Inc. came into partnership with Allied Universal, a global security and facility services company. The partnership would aim to offer Autonomous Security Robots (ASRs) to the company’s U.S.-based customers to help dissuade crime, improve situational awareness and enhance safety of security proffessionals.
Product Launches and Product Expansions:
Jan-2023: Exotec announced the launch of Skypicker, an intelligent picking solution for modern warehouses, Skypath, a modular conveyor system, and Deepsky, end-to-end warehouse software. Through this launch, companies would allow its customers to run scalable, efficient and modular warehouses that expand to fit customer’s specific demands.
Dec-2021: Berkshire Grey, Inc. announced the launch of Robotic Product Sortation (BG RPS) solution, a next generation high-capacity automation solution. The product consists of multiple latest features including a dual wing design that enhances speed by more than 25 percent and increases the simultaneous order processing capacity.
Sep-2021: Berkshire Grey, Inc. released AI-powered Robotic Shuttle Put Wall (RSPW) solution, an automated put wall that enhances throughput and capacity with robotic automation for eCommerce order fulfillment. The product allows retailers to be more competitve, enhances capacity and meets escalating consumer demand instead of labor scarcity.
Acquisitions and Mergers:
Oct-2022: Knightscope acquired CASE Emergency Systems, a developer of autonomous security robots. Through this acquisition CASE Emergency Systems’ key clients would contribute to Knightscope’s sales strategy and align with Knightscope’s rising autonomous security business with a complete product suite and expanded physical footprint.
Sep-2021: Locus Robotics took-over Waypoint Robotics, a manufacturer and developer of fully autonomous mobile robots. This acquisition expands the AMR solutions’ product line of Locus that has applications in pallet-picking, ecommerce, case-picking to scenarios needing heavier payloads and fulfillment modalities.
Scope of the Study
Market Segments covered in the Report:
By Application
• Handling
• Assembling & Disassembling
• Welding & Soldering
• Dispensing
• Processing
• Others
By End User
• Logistics
• Automotive
• Manufacturing
• Food & Beverages
• Aerospace & Defense
• Retail
• Media & Entertainment
• Healthcare
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Berkshire Grey, Inc.
• Kuka AG (Midea Investment Holding Co., Ltd.)
• Cyberdyne, Inc.
• Knightscope, Inc.
• Locus Robotics
• Exotec SAS
• Caja Robotics
• Hirebotics
• Cobalt Robotics
• Relay Robotics, Inc.
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06435099/?utm_source=GNW
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