PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1228981
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1228981
The global robotics as a service market is estimated to be valued at USD 1.8 billion in 2023 and reach USD 4.0 billion by 2028, at a CAGR of 17.4% between 2023 and 2028. The benefits of the robotics as a service model over the traditional robotic program, such as higher flexibility, scalability, and lower cost of entry, are the key factors driving the robotics as a service market.
Need for automated grinding and polishing for consistent finish to support market for processing application
Processing applications considered in this section include grinding, milling, and cutting. Grinding robots quickly and efficiently process various objects, such as vehicle bodies and wooden planks. Unlike grinding, milling is used to remove a large amount of material from the target object. Objects of various sizes or shapes can be milled by simply programming the robot. The cutting process is used in various industries for cutting materials such as metal, plastic, fabric, and even food.
Extensive use of robotics by automotive vertical to drive market
in October 2022, Affordable Robotic & Automation Ltd. (ARAPL), a turnkey automation solution provider for automotive industries and parking automation, recently announced its entry into the service industry with the launch of its robotics as a service offering. ARAPL's robotics as a service offers an end-to-end solution approach.
Key players operating in robotics as a service market are KUKA AG (Germany), Berkshire Grey, Inc. (US), Locus Robotics (US), Exotec (France), Knightscope, Inc. (US), CYBERDYNE, Inc. (Japan), CAJA (Israel), Hirebotics (US), Cobalt Robotics (US), Relay Robotics (US), and inVia Robotics (US).
Research Coverage
The report segments the robotics as a service market and forecasts its size based on region (North America, Europe, Asia Pacific, and ROW), By Type (Professional, Personal), By Application (Handling, Assembling & Disassembling, Dispensing, Processing, Welding & Soldering, Others), By Vertical (Manufacturing, Automotive, Aerospace & Defense, Logistics, Healthcare, Retail, Food & Beverage, Media & Entertainment and Others). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the robotics as a service market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
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