Home > Electronics & Media > Robotics as a Service (RaaS) Market
Robotics as a Service Market size was at over USD 1.5 billion in 2022. Driven by increasing adoption of robotics in food delivery services globally, the industry will expand at over 15% CAGR from 2023 to 2032.
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Many food delivery giants such as Takeaway.com, UberEats, and Foodpanda, are investing huge amounts into RaaS technology for fast last-mile delivery. In fact, in May 2022, Uber Technologies Inc., a U.S.-based technology company, started the testing of autonomous food delivery services in two cities in California. The company also unveiled a food delivery service with self-driving cars and a separate pilot using sidewalk robots. Customers in West Hollywood and Santa Monica, California, can use both services.
Report Coverage | Details |
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Base Year: | 2022 |
Market Size in 2022: | USD 1.5 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 15% |
2032 Value Projection: | USD 8 Billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 230 |
Tables, Charts & Figures: | 258 |
Segments covered: | Type, Application, End-use, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Steep initial investment required for procuring, integrating, coding, and accessorizing robots may limit industry growth. Additionally, high cost of software upgrades, sensor replacements, and other part replacements add to the total cost of ownership. Due to insufficient production and slow ROI, these businesses also face problems in revenue generation, which turns them towards low-cost alternatives for business operations.
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Robotics as a service market size from the logistics end-use segment will be over USD 2 billion by 2032. Growing demand for robots for the streamlining of supply chain operations in various industries is contributing to segment expansion. Many companies are making substantial investments to deploy RaaS for enhancing their supply chains. For instance, in March 2023, Körber, a leading automation company, unveiled its intent to launch a new RaaS program to help clients access a global network of robotics service partners.
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Robotics as a service (RaaS) market value from handling applications will be over USD 2.5 billion by 2032. Low operating costs of robotics have increased the demand for RaaS technology for seamless material handling. Moreover, growing efforts by various companies to deploy RaaS technology for efficient material handling will further contribute to segment growth.
For instance, in June 2022, Caja Robotics, a prominent provider of robotic solutions, inked a partnership deal with Fives Group, a leading advanced material handling solutions provider. This collaboration was aimed at addressing challenges to warehouse automation across Europe. Such developments will create lucrative prospects for RaaS market growth over the forecast period.
North America Robotics as a service (RaaS) market share will exhibit more than 18% CAGR through 2032. Rising investments in robotic equipment is expected to contribute to regional expansion. As per the U.S. Census Bureau, in 2021, the U.S. capital expenditure on robotic equipment was worth USD 11,536 million and made 1.1% of total expenditures on equipment for that year. Regional growth can also be credited to high adoption of surgical robots in the healthcare sector.
Locus Robotics, Starship Technologies, Knightscope, Inc., Lely International, Mahajan Automation, Kongberg Maritime AS, Relay Robotics, and KUKA AG, among others.
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By Application
By End-use
The above information has been provided for the following regions and countries: