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Robotics as a Service (RaaS) Market Size

  • Report ID: GMI5610
  • Published Date: May 2023
  • Report Format: PDF
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Robotics as a Service  Market Size

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. 

 

Robotics as a Service Market
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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.

 

Robotics as a Service Market Report Attributes
Report Attribute Details
Base Year:2022
Robotics as a Service 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:
  • Easy transition to new technology
  • Cost effectiveness
  • Growing adoption of robotics in food delivery services
  • Rising automation in end-use industries
  • Growing number of investments in RaaS start-ups
Pitfalls & Challenges:
  • Technical challenges
  • High initial investments
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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.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

In 2022, global robotic as a service market size was over USD 1.5 billion and will depict over 15% CAGR from 2023 to 2032, driven by surging adoption of robotics in food delivery services globally.

Based on end-use, RaaS industry size from logistics segment will be more than USD 2 billion by 2032, on account of increasing demand for robots for streamlining supply chain processes in various industries.

North America robotics as a service market size will be more than USD 2.5 billion by 2032, owing to growing investment in robotic equipment in the region.

Some of the leading market players are Aethon, inVia Robotics, Inc., Hirebotics, Formic Technologies Inc, CYBERDYNE, Inc, Berkshire Grey, Inc., Exotec, and Intuitive Surgical, among others.

Robotics as a Service Market Scope

  • Robotics as a Service Market Size
  • Robotics as a Service Market Analysis
  • Robotics as a Service Market Share

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    Premium Report Details

    • Base Year: 2022
    • Companies covered: 17
    • Tables & Figures: 258
    • Countries covered: 17
    • Pages: 230
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