• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Home
  • Subscribe
  • Your Membership
    • Edit Your Profile
  • Services
    • Advertising
    • Case studies
    • Design
    • Email marketing
    • Lead generation
    • Magazine
    • Press releases
    • Publishing
    • Sponsored posts
    • Webcasting
    • Webinars
    • White papers
    • Writing
  • Shop
    • My Account
    • Cart
  • About
    • Contact
    • Privacy
    • Terms of use
  • Events

Robotics & Automation News

Market trends and business perspectives

  • News
  • Features
  • Video
  • Webinars
  • White papers
  • Press releases
  • Featured companies
    • AMD Xilinx
    • BlueBotics
    • Elite Robot
    • RGo Robotics
    • SICK Sensor Intelligence
    • Vicor Power

Global ‘Robot-as-a-Service’ market set to reach $41.3 billion by 2028

August 23, 2021 by David Edwards Leave a Comment

The global Robot as a Service market was valued at $12.6 billion in 2020 and is expected to surpass $41.3 billion by 2028, registering a compound annual growth rate of 15.9 percent during the forecast period (2021-2028), as highlighted in a report published by Coherent Market Insights.

The ongoing advancement in technologies is propelling the market growth during the forecast period.

The growing adoption of advanced technologies such as automation, artificial intelligence, machine learning, Robot as a Service (RaaS), and many other technologies are expected to drive market growth during the forecast period.

For instance, in June 2020, Qualcomm, a US-based semiconductor manufacture company, launched its first 5G and AI-enabled robotics platform for consumer, enterprise, defense, industrial, and professional service sectors.

For instance, according to the International Federation of Robotics (IFR), a Germany-based non-profit organization, the annual installation of robots reached 422 thousand in 2018 from 250 thousand in 2015.

Furthermore, the growth of robotics is expected to propel the productivity and economic expansion in the developing countries.

The robot as a service platform can create tremendous opportunities across various industrial sectors in underdeveloped economies.

Moreover, the era of automation and robotics represent opportunities for residential sectors as well.

Impact of the coronavirus pandemic

Globally, most of the countries are affected by Covid-19 pandemic and have announced lockdown. There is a significant impact of the pandemic on the Robot as a Service market as well.

The Covid-19 pandemic has increased the demand for robot-as-a-service platform in logistics, food and beverage, and many other industries, which is driving the market growth.

Most of the logistics companies such as DHL logistics have also implemented contactless operations such as parcel lockers, autonomous delivery robots, and in-app signature software in order to minimize the pandemic risks in the market.

For instance, in September 2020, Alibaba, a China based multinational e-commerce company launched logistics robots for deliveries, owing to the rising industrial automation in the market.

Furthermore, logistics sector are using robotics and automation in order toavoid social distancing and to contain the spread of coronavirus.

Key trends and analysis of the global Robot as a Service market

North America held dominant position in the global Robot as a Service market in 2020 and is expected to retain its dominance throughout the forecast period.

This is attributed to increasing investments in advanced technologies, higher investment in research and development, and adoption of major technologies in North America region have increased the demand for services robotics in North America region.

Moreover, significant rise in the adoption of surgical robots in the healthcare industry in the region has led to the higher market share of the region.

For instance, according to Coherent Market Insight analysis, global medical robots market is expected to reach $12.6 billion by 2025 from an estimated $5.9 billion in 2020 at a CAGR of 16.5 percent during the forecast period.

Asia Pacific is expected to show significant growth over the forecast period, owing to growing adoption of services robots in China, Japan, India, and many others. Regional governments also play a major factor for the development of regional robotics demand in the market.

For instance, India plans to invest in military robotics, and the country is preparing for deploying advanced robotic soldiers by 2023.

Among type, professional robots segment held a dominant position in the market in 2020 and is expected to retain its dominance during the forecast period. This is owing to the increasing demand for service robots across many industries such as medical, logistics, retail, construction, and many others.

For instance, according to Coherent Market Insight analysis, global logistics robots market is projected to grow from $4.3 billion in 2021 to $15.8 billion in 2028 at a CAGR of 13.1 percent in forecast period 2021-2028.

Furthermore, the increasing adoption of mobility and automation across industrial sector is also creating lucrative growth opportunities in the market.

The growth of this segment is also increasing owing to the rising labor cost, investment in research & development, and growing awareness regarding service robot and automation.

Major players operating in the global Robot as a Service market include iRobot, Softbank, Intuitive Surgical, DeLaval, Daifuku, Cyberdyne, DJI, Kongsberg, Northrop Grumman, Neato Robotics, ecoRobotix, Starship Technologies, Kuka, Parrot, Aethon, Lely, Dematic, Bastian Solutions, and Omron.

Print Friendly, PDF & Email

Share this:

  • Print
  • Facebook
  • LinkedIn
  • Reddit
  • Twitter
  • Tumblr
  • Pinterest
  • Skype
  • WhatsApp
  • Telegram
  • Pocket

You might also like…

Filed Under: Features, Industry Tagged With: automation, billion, expected, forecast, global, growth, instance, logistics, market, period, robot, robotics, robots, service, technologies

Join the Robotics & Automation News community

Reader Interactions

You must log in to post a comment.

Primary Sidebar

Latest articles

  • Autonomous mobile robots market expected to expand at 22 percent a year
  • Will a robot take my job? Notre Dame researcher says this view is overly pessimistic
  • Flexiv partners with Doco Engineering to meet ‘expanding US robotics demand’
  • Addverb opens second software development centre in India
  • ABI Research gives 16 autonomous forklift system vendors competitive rankings
  • euroTECH’s Vacuum Lifter System Increases Efficiency and Ergonomics in Wood Processing
  • How to Reduce Chatter in Robotic Milling Applications
  • Otto Motors launches new ‘mid-sized’ autonomous mobile robot
  • SGS introduces ‘cutting-edge testing protocol’ for robots checking furniture drawer slides
  • Europalco buys two robots from Kuka to add ‘wow factor’ to shows

Most Read

  • Top 20 electric vehicle charging station companies
    Top 20 electric vehicle charging station companies
  • Difference Between Three-Phase and Single-Phase Power
    Difference Between Three-Phase and Single-Phase Power
  • Scientists have found more water in space than they ever knew possible
    Scientists have found more water in space than they ever knew possible
  • Top 20 programmable logic controller manufacturers
    Top 20 programmable logic controller manufacturers
  • How to Know if Your iPhone is Being Tracked? Check This!
    How to Know if Your iPhone is Being Tracked? Check This!
  • What You Need to Know About Fixing an Engine Misfire
    What You Need to Know About Fixing an Engine Misfire
  • Why is My Car Key Stuck in the Ignition?
    Why is My Car Key Stuck in the Ignition?
  • Why is Money Important in Our Lives?
    Why is Money Important in Our Lives?
  • Hengbot unveils ‘world’s first robotic dog with musculoskeletal limbs’
    Hengbot unveils ‘world’s first robotic dog with musculoskeletal limbs’
  • IoT Basics: A Guide to the Internet of Things for Beginners
    IoT Basics: A Guide to the Internet of Things for Beginners

Overused words

ai applications automated automation automotive autonomous business companies company control customers data design development digital electric global industrial industry logistics machine manufacturing market mobile operations platform process production robot robotic robotics robots safety software solution solutions system systems technologies technology time vehicle vehicles warehouse work

Secondary Sidebar

Latest news

  • Autonomous mobile robots market expected to expand at 22 percent a year
  • Will a robot take my job? Notre Dame researcher says this view is overly pessimistic
  • Flexiv partners with Doco Engineering to meet ‘expanding US robotics demand’
  • Addverb opens second software development centre in India
  • ABI Research gives 16 autonomous forklift system vendors competitive rankings
  • euroTECH’s Vacuum Lifter System Increases Efficiency and Ergonomics in Wood Processing
  • How to Reduce Chatter in Robotic Milling Applications
  • Otto Motors launches new ‘mid-sized’ autonomous mobile robot
  • SGS introduces ‘cutting-edge testing protocol’ for robots checking furniture drawer slides
  • Europalco buys two robots from Kuka to add ‘wow factor’ to shows

Footer

We are…

Robotics and Automation News was established in May, 2015, and is now one of the most widely-read websites in its category.

Please consider supporting us by becoming a paying subscriber, or through advertising and sponsorships, or by purchasing products and services through our shop – or a combination of all of the above.

Thank you.

Independent

Archivists

August 2021
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Jul   Sep »

Complex

Old-skool

This website and its associated magazine, and weekly newsletter, are all produced by a small team of experienced journalists and media professionals.

If you have any suggestions or comments, feel free to contact us at any of the email addresses on our contact page.

We’d be happy to hear from you, and will always reply as soon as possible.

Future-facing

Free, fair and legal

We support the principles of net neutrality and equal opportunities.

Member of The Internet Defense League

Copyright © 2023 · News Pro on Genesis Framework · WordPress · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT