According to a new report, titled, “Robotics as a service Market Insights, Trends, Opportunity & Forecast, 2021–2026,” Robotics as a service market size is anticipated to at a witness single digit growth during forecast period i.e. 2021-2026.
The global robotics as a service market is expected to grow at a CAGR of around 6% over the period of next 5 years.
According to figures from the IFR (International Federation of Robotics), a non-profit organisation based in Germany, sales of professional service robots were US$ 5,200 million in 2017.
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The global Robotics as a service market is predicted to develop due to the use of Robotics as a service in paints, plating chemicals, and catalysts. Furthermore, alloys, catalysts, pigments, magnets, and soaps all need cobalt carbonate. It's utilized as a dietary supplement because it's a necessary component for good health. Robotics as a service is also frequently utilized as a cathode material in batteries, cars, and electronic gadgets. Due to the alloy's excellent heat resistant qualities, it's also employed in the repair of alloys used in jet engines.
COVID-19's Effects
Over the last 18 months, almost every industry on the planet has suffered a setback. This is due to major disruptions in their manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other restrictions imposed by governments around the world. The global Robotics as a service market is no exception. Furthermore, consumer demand has decreased as people have been more focused on removing non-essential expenses from their budgets as the general economic situation of most people has been badly impacted by the outbreak. The revenue trajectory of the worldwide Robotics as a service market is likely to be hampered by the aforementioned factors throughout the forecast period. The global Robotics as a service market, on the other hand, is predicted to rebound as separate regulatory bodies begin to relax these imposed restrictions.
The report investigates North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa in terms of geography. With growing demand in emerging economies such as India and China, the Asia-Pacific region has the greatest proportion of the Robotics as a service market. Due to its rising applications in the vehicle sector, Europe is a close second. In the foreseeable future, North American and Latin American markets are expected to see significant expansion.
Global Robotics as a service market analysed across different geographies i.e. North America (U.S. & Canada), Europe (Germany, United Kingdom, Italy, Spain, Russia, France and Rest of Europe), Asia Pacific (China, India, Japan, Indonesia, Taiwan, South Korea, Australia, New Zealand), Latin America (Brazil, Mexico, Argentina) & Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa).
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Market Segmentation
By Type:
- Professional Service Robots
- Personal Service Robots
By End Use Industry:
- IT & Telecom
- BFSI
- Defense
- Logistics
- Healthcare
- Retail
- Food & Beverage
- Media & Entertainment
- Others
Companies Profiled in Report
Some of the key players major Robotics as a service market companies profiled in the report include:
- Aethon
- Bastian Solutions, LLC
- CYBERDYNE INC.
- Daifuku Co., Ltd.
- DeLaval
- Dematic
- DJI
- ecoRobotix Ltd
- Intuitive Surgical
- iRobot
- KONGSBERG
- KUKA AG
- Lely
- Neato Robotics, Inc.
- Northrop Grumman
- OMRON Corporation
- Parrot
- Softbank
- Starship Technologies
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