There was once a time when we feared that the machines would take over, now our relationships with machines have evolved to the point of complete integration into virtually everything, topped with our daily conversations. The human-machine equation is more peaceful now because it has become increasingly evident that machines can make our lives easier. If we keep aside the fear that they may actually take over human jobs someday (and dominate the human race), I think we can expand the idea of Robotics-as-a-Service (RaaS) to any and all operations. RaaS is a cloud computing unit for the incorporation of robots and embedded devices into the cloud computing applications. It enforces the build and implementation of a robot or a device into an all-in-one Service-Oriented Architecture (SOA) unit.

In this report, the global Robotics as a Service (RaaS) market is expected to cross USD 40 billion by the end of 2026, growing at a CAGR of more than 23% between 2016 and 2026.

Market Summary
An exclusive model known as Robotics as a Service (Raas) is a combination of robotics, AI, cloud computing and shared services. With RaaS, clients don’t really need to purchase an integrated solution, instead they can lease the robotic devices as a cloud based service.

RaaS provides Facility of an integrated solution rather than clients need to buy so that they can lease the robotics of their need as a cloud based service. RaaS lets businesses store data that are collected by the robots on the cloud. Data stored by robots are stacked in a centrally stored cloud based system and accessible to humans thus ensuring multitasking, seamless data and process flow.

Latest business model Robotics-As-A-Service (RaaS) where robots are given as a service rather than as product so as to manage companies most manual, ordinary, monotonous, or lethal errands across numerous sites. Organizations that cannot invest in robots can leverage the power of robotics by renting and subscribing as it offers cost affordability, accessibility and feasibility.

RaaS model provides vastly flexible business solutions with a variety of tasks and options. RaaS can be used as lease-purchase or rental options depending on the requirements of clients. Robots helps organizations to improve their productivity by completing more work in a shorter time through the use of virtual agents.Leasing robots on a monthly or yearly basis reduces the upfront cost dramatically thus allowing manufacturers to invest in otherwise overtly expensive automation, without the need to break the bank.As the robot are leased, the obligation and expenditure of repairing the robot are handled by the robot provider.
Robotics as a Service Model is intensively used in the automotive industry but there is an increase in the adoption of this model in various industries like Manufacturing, Defense, Agriculture, Security & Surveillance, Logistics, Warehouse Automation, Delivery, Healthcare, Hospitality, Retail, Construction, Entertainment & Leisure and Miscellaneous but the two of the fastest growing industries that are turning to RaaS are healthcare and manufacturing.

Robotics as a Service (RaaS) Market Forecast Model:

Globalization has made hardware more affordable, and cloud computing solutions have also become more accessible. Furthermore, companies are well-acquainted with the use of automated equipment. The integration of robots into manufacturing started as a way to ease the manual efforts required for any process. However, over the years, it has replaced the human presence in manufacturing, assembling, packaging, and other such processes altogether. Initially, creating or buying robots was highly expensive, although, over time and concomitant with the ‘rentification’ of numerous other industries, the RaaS industry has also adopted a renting business model, wherein giants like RobotWorx let companies hire robots for a minimum period of one week for services ranging from manufacturing to cameos in advertisements or even trade show displays.

The RaaS hiring model has made it easier for companies to automate their processes as it also mitigates the shortcomings of building or purchasing robots for operations. In the case of buying these robots, the investments were substantial, with the possibility of getting sufficient returns only after a few years. Whereas, when it comes to renting, the returns on investments are realized sooner rather than later. RaaS is convenient, fast, and affordable. For instance, Ready Robotics has come up with a no-term plan, where manufacturers can rent robots for a shorter-than-usual period.

Owing to the cost of renting, which is comparatively lesser than that of purchasing, manufacturers can extract funds form their OPEX (Operating Expenditure), without disturbing their Capex (Capital Expenditure) budget. Moreover, the CEO of Ready Robotics seemed to be confident while stating that once their robots are up and running, they are surely going to yield improved outcomes for the manufacturer, thus advertising for themselves without effort. So, basically, the no-term plan is a trial period for which the robot is rented to manufacturers, where the only expense is the rent amount, which seems meager compared to the alternative option of purchase. If the outcome that the robot delivers works with the manufacturer, they will surely consider purchasing the robot for continued consistency in the same. Bearing gifts for both, the plan helps robot manufacturers earn rent without selling their product, and the manufacturer saves on the expenses. T

om Fischer, who is the operations manager at Robotworx, claims that most of the customers who have rented the robots for more than a year, end up purchasing it. To encourage this, Robotworx directs 20% of the rent price towards purchase. The cherry on the cake is their commitment to ensuring that all machines leaving their site are up-to-date in terms of maintenance and will not require the same for at least a year.

Autonomous Mobile Robots (AMRs) are the highlight of the logistics robot market. They are used to lift and carry heavy pallets or units across the production site. This sector has received enormous motivation and funding from top-notch companies like DHL, Walmart, and Amazon, who presently employ this technology. The intriguing factor about these robots is the level of AI (Artificial Intelligence) that is ingrained into them. They are developed to recognize the fastest route with the least congestion. However, that is not all, they also sense and avoid obstructions in their path without any supervision or help (electromagnetic or physical). A machine, moving about the workplace, all on its own, carrying goods, is a silent indicator of the impossible feats that the AI industry has accomplished over a short time frame.

All in all, the growth of the RaaS market is a benchmark which not all can beat or achieve. The growth of this industry also supplements almost all other industries, the reason being a shift that has been prevalent from the beginning of this century – the shift to adopting the Industry 4.0 manufacturing panache. Furthermore, the estimated CAGR is another sign that shows sanguine prospects for the RaaS industry.

The major players covered in this report are:
• Cobalt Robotics
• Glomatriz
• Sofigate
• Aethon
• PrecisionHawk
• Bossa Nova
• Fetch Robotics
• Fellow Robots
• Hirebotics
• Knightscope
• Kraken Robotics
• Liquid Robotics
• Locus Robotics
• Marble
• 6 River Systems
• Sarcos Robotics
• Savioke
• Starship Technologies
• The Small Robot Company
• RedZone
• inVia Robotics

On the basis of Type, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into:
• Personal service robots
• Professional service robots
• Ohters

On the basis of Technology Type, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into:
• SOA
• Cloud computing
• IoT
• CPS
• ADS

On the basis of End user, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into:
• Manufacturing
• Defense
• Agriculture
• Security & Surveillance
• Logistics
• Warehouse Automation
• Delivery
• Healthcare
• Hospitality
• Retail
• Construction
• Entertainment & Leisure
• Miscellaneous (Oil & Gas, Oceanography, Recycling, Wastewater Management etc.’)

On the basis of availablity Type, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into:
• Robotics as a cloud service
• Robots on rental

Why Choose Robotics-As-A-Service (RaaS)
1. Control centre for allocating resources
2. Improve productivity at minimal costs
3. Enables a smarter business network
4. Flexible and scalable solution
5. Measure performance & iterate
6. Cost-sharing between companies
7. Choice between pay per use & fixed prices

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
• United States
• Europe
• China
• Japan
• Southeast Asia
• India

We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa

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• Competitive Analysis
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• Cost Benefit Analysis
• Supply chain optimization analysis
• Patent Analysis
• Carbon Footprint Analysis
• R & D Analysis
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