LONDON--(BUSINESS WIRE)--The global robotics as a service market is expected to grow at a CAGR of close to 20% from 2018-2022, according to a new market research report by Technavio.
Global robotics as a service market segmentation by application and geography
Technavio’s report on the global robotics as a service market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, including intralogistics, medical applications, surveillance, security, and survey, field robotics, inspection, maintenance, and cleaning, and public relations. Vendors are leveraging technologies such as cloud computing to enhance their offerings through services such as real-time remote monitoring of robots.
Based on geography, the global robotics as a service market has been segmented into APAC, EMEA, and the Americas. The Americas dominated the market by contributing to approximately 41% of the market share. It was followed by EMEA and APAC regions that contributed around 36% and 24% of the market share respectively.
“The robotics as a service involves a business model in which professional service robots are rented or leased on a monthly or hourly basis, along with upgradation, maintenance, and other basic services to end-users,” says a senior analyst at Technavio for robotics research.
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Some of the vendors in the global robotics as a service market:
- inVia Robotics
- Kraken Robotics
- RedZone Robotics
- Sarcos
- Savioke
The global robotics as a service (RaaS) market is closely related to the global industrial robotics rental market. The global robotics as a service (RaaS) market is expected to project an incremental growth of more than USD 713 million over the forecast period. It is estimated that around 43% of the incremental growth will originate from the Americas.
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Other topics covered in the report:
Market drivers:
- High cost of deployment of robots
- Changes in global labor force
Market challenges:
- Need for technical expertise
- Lack of awareness and acceptance
Market trends:
- Adoption of operational intelligence and data analytics
- Increased demand for oceanography and hydrography
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