Connect with us

Technology

The Robotics as a Service (RaaS) Market is projected to grow by USD 2.49 Billion (2024-2028), driven by rapid industrialization and AI’s role in redefining the market landscape – Technavio

Published

on

NEW YORK, Oct. 9, 2024 /PRNewswire/ — Report with market evolution powered by AI – The Global Robotics as a Service (RaaS) Market size is estimated to grow by USD 2.49 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 23.47% during the forecast period. Rapid industrialization in developed countries is driving market growth, with a trend towards adoption of operational intelligence and data analytics. However, need for technical expertise poses a challenge – Key market players include Ademco Security Group Pte Ltd., Caja Elastic Dynamic Solutions Ltd., Cobalt Robotics Inc., Exotec SAS, Field Group AS, HAHN Group GmbH, Harvest Automation, inVia Robotics Inc., Irobot Corp., Knightscope Inc., Kraken Robotics Inc., Locus Robotics Corp., Marks and Spencer Group plc, OhmniLabs Inc., Rapyuta Robotics Co. Ltd., RedZone Robotics Inc., Relay Robotics Inc., Sarcos Technology and Robotics Corp., Singapore Technologies Engineering Ltd., and Zebra Technologies Corp.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Type (Professional and Personal), Application (Intralogistics, Medical applications, Surveillance and security, Field robotics, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Ademco Security Group Pte Ltd., Caja Elastic Dynamic Solutions Ltd., Cobalt Robotics Inc., Exotec SAS, Field Group AS, HAHN Group GmbH, Harvest Automation, inVia Robotics Inc., Irobot Corp., Knightscope Inc., Kraken Robotics Inc., Locus Robotics Corp., Marks and Spencer Group plc, OhmniLabs Inc., Rapyuta Robotics Co. Ltd., RedZone Robotics Inc., Relay Robotics Inc., Sarcos Technology and Robotics Corp., Singapore Technologies Engineering Ltd., and Zebra Technologies Corp.

Key Market Trends Fueling Growth

The Robotics as a Service (RaaS) market is experiencing notable advancements, particularly in operational intelligence and data analytics software solutions. Vendors are prioritizing real-time operational intelligence improvements and ensuring data accessibility for expert teams. AI functionalities are also undergoing enhancements. Vendors aim to seamlessly integrate data from various sources, enabling simultaneous analysis by experts in different locations. This data collaboration leads to informed decisions regarding robot and drone operation and maintenance. The adoption of operational intelligence and data analytics is crucial for the growth of the global RaaS market. 

Robotics as a Service (RaaS) market is experiencing significant growth as businesses adopt automation to streamline operations and enhance efficiency. Food delivery giants are integrating RaaS technology for last-mile delivery through self-driving cars and sidewalk robots. RaaS enables procuring, coding, and accessorizing robots without the need for large capital expenditure. However, challenges such as insufficient production, slow ROI, and high operating costs persist. Logistics end-use segment, including supply chain operations, is a major adopter of RaaS. Robotics service partners offer software upgrades, sensor replacements, and part replacements. The healthcare sector uses RaaS for surgical robots and personal assistance robots. Sales strategy and geographical footprint expansion are key focus areas for RaaS providers. Automation in Manufacturing, Retail, Logistics, and the Healthcare sector, along with the Automotive and BFSI industries, are embracing RaaS. Cloud-based robotics platforms, IoT, AI, and the subscription model are driving the RaaS market. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The Robotics as a Service (RaaS) market in APAC faces challenges due to the lack of technical expertise among end-users. End-users need to understand robot functioning and periodic servicing to ensure smooth operations. This knowledge gap results in reluctance to adopt robots due to perceived downtime during maintenance. Vendors can address this issue by providing comprehensive training and consultation services. The absence of skilled operators and proper training hinders the widespread adoption of robotic automation through the RaaS model. In APAC, end-users’ reluctance to learn new technologies further impedes market growth. To succeed, vendors must invest in training programs and offer ongoing support to end-users with limited technological familiarity.Robotics as a Service (RaaS) is revolutionizing industries by offering flexible and cost-effective automation solutions. However, some challenges persist. Slow return on investment (ROI) and revenue generation are common concerns. Low-cost alternatives and the logistics end-use segment require special attention. Robotics service partners play a crucial role in handling applications like seamless material handling and warehouse automation. Operating costs, particularly in sectors like manufacturing, healthcare, retail, and logistics, remain a challenge. Capital expenditure for purchasing and maintaining robots can be high. RaaS addresses this by offering a subscription model. Sectors like healthcare, with surgical robots and personal assistance robots, and the automotive and BFSI industries, are prime targets. RaaS is also expanding into new areas like autonomous security business and geographical footprint. Cloud-based robotics platforms, IoT, and AI are integral to RaaS. Automation in manufacturing, handling applications, and supply chain operations are key areas of growth. Sales strategy and partnerships are essential for success.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This robotics as a service (RaaS) market report extensively covers market segmentation by

Type 1.1 Professional1.2 PersonalApplication 2.1 Intralogistics2.2 Medical applications2.3 Surveillance and security2.4 Field robotics2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Professional- The Robotics as a Service (RaaS) market refers to the provision of robotics solutions on a subscription basis. Businesses can access advanced robotics technology without the need for large upfront investments. RaaS offers flexibility, scalability, and cost savings. It enables companies to automate repetitive tasks, improve productivity, and enhance operational efficiency. RaaS providers offer customized solutions tailored to specific industry requirements. This business model is gaining popularity due to its affordability and ability to deliver quick returns on investment.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 – 2021) 

Research Analysis

The Robotics as a Service (RaaS) market is experiencing rapid growth as businesses across various sectors adopt robotics technology to streamline operations and enhance efficiency. RaaS technology is revolutionizing industries such as food delivery services, where self-driving cars and sidewalk robots are transforming last-mile delivery. In the healthcare sector, personal assistance robots are improving patient care and increasing autonomy. Manufacturing, Retail, Logistics, and the Automotive industry are also embracing RaaS for automation and cost savings. Cloud-based robotics platforms, IoT, AI, and a subscription model are driving the adoption of RaaS in Large Enterprises. The geographical footprint of RaaS is expanding, with applications in the BFSI industry and the autonomous security business. The sales strategy for RaaS providers involves offering customized solutions to meet the unique needs of each industry. RaaS is set to revolutionize the way we work and live, with endless possibilities for innovation and growth.

Market Research Overview

The Robotics as a Service (RaaS) market is experiencing significant growth due to the adoption of robotics in various industries, including food delivery services and logistics. RaaS technology enables food delivery giants to integrate self-driving cars, sidewalk robots, and other robotic solutions for last-mile delivery, offering a more efficient and cost-effective alternative to traditional delivery methods. RaaS allows procuring, coding, accessorizing robots, and managing software upgrades, sensor replacements, and part replacements, reducing the need for capital expenditure. However, challenges such as insufficient production, slow ROI, and high operating costs can hinder the market’s growth. The logistics end-use segment, including supply chain operations, is a significant contributor to the RaaS market, with robotics service partners offering seamless material handling and warehouse automation solutions. The healthcare sector also benefits from RaaS through the use of surgical robots and personal assistance robots. The manufacturing, retail, automotive, BFSI industries, and automation sectors are also adopting RaaS for handling applications. Cloud-based robotics platforms, IoT, AI, and a subscription model are driving innovation in the RaaS market, with large enterprises and geographical footprint expansion being key sales strategies for market players.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeProfessionalPersonalApplicationIntralogisticsMedical ApplicationsSurveillance And SecurityField RoboticsOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-robotics-as-a-service-raas-market-is-projected-to-grow-by-usd-2-49-billion-2024-2028-driven-by-rapid-industrialization-and-ais-role-in-redefining-the-market-landscape–technavio-302271120.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

LANDI Global Unveils Flagship Cx20: Elevating business efficiency and customer experience with a next-generation Windows-powered terminal

Published

on

By

SINGAPORE, Jan. 11, 2025 /PRNewswire/ — LANDI Global proudly announces the launch of the Cx20 terminal, our flagship next-generation smart Windows Desktop POS.

Engineered for businesses that seek advanced technology and refined design, the Cx20 delivers top-tier performance with seamless compatibility. This powerful Desktop POS empowers users to handle even the most challenging tasks with confidence, making it ideal for demanding environments.

Innovation driven by market needs

The Cx20 is designed to meet the growing global demand for Windows-based Desktop POS.

With a large Windows-installed base still in use and the end of support for Windows 10, many businesses are seeking an easy migration path to Windows 11-compatible POS solutions. The Cx20 integrates seamlessly with existing Windows-based applications and back-end systems, ensuring minimal disruption and maximum compatibility.

Build for Business Demand  

The Cx20 is built to meet the demands of businesses with its powerful performance, robust connectivity, and user-friendly design.

Equipped with advanced industrial control chips, running on Windows 11 IoT LTSC, the Cx20 benefits from Microsoft’s long-term support of up to 10 years+, delivering consistent performance for high-demand workloads and efficient multitasking.

Connectivity is seamless, with Wi-Fi 6e and 1000M Ethernet support, ensuring constant, reliable connectivity essential for uninterrupted business operations.

Its 15.6″ IPS with 1920×1080 resolution, multi-touch display ensures crystal-clear visuals and an intuitive user experience.

Outstanding performance and customer benefit

The Cx20 is powered by a Hexa-core Intel® i3-1215U processor, reaching speeds up to 4.4GHz. With compatibility for Windows 11 IoT, it excels at handling high-demand workloads and multitasking, making it the ideal POS solution for businesses.

Memory options range from 8GB + 256GB as a base, ensuring versatility to meet various operational needs while maintaining a seamless experience for complex tasks. The Cx20 is equipped with an integrated 80mm thermal printer featuring auto-cutter technology, ensuring efficient printing, and LANDI’s patented auto-recovery technology automatically resolves paper jams for uninterrupted service.

Distinct competitive advantages

The Cx20 stands out with its perfect blend of cutting-edge design and high-performance functionality.

Equipped with the latest Intel® processors and generous memory options, it delivers smooth operation and efficient multitasking, making it ideal for demanding retail and hospitality environments.

Cx20 features an ultra-slim triangular base for added stability and a sleek profile. With a body thickness of 4mm and a screen thickness of 8mm, it combines state-of-the-art technology.

Visit LANDI Global for more information!

View original content to download multimedia:https://www.prnewswire.com/news-releases/landi-global-unveils-flagship-cx20-elevating-business-efficiency-and-customer-experience-with-a-next-generation-windows-powered-terminal-302348520.html

SOURCE LANDI Global

Continue Reading

Technology

CSI Companies Acquires MedSys Group, Expanding Healthcare IT Services

Published

on

By

CSI Companies, a leading provider of staffing, consulting, and workforce management services across the Healthcare IT industry, acquired MedSys Group, a premier Healthcare IT consulting firm based in Plano, Texas. This strategic acquisition will significantly enhance CSI’s capabilities in the Healthcare IT market, providing comprehensive solutions to a wider range of clients.

JACKSONVILLE, Fla., Jan. 11, 2025 /PRNewswire-PRWeb/ — CSI Companies, a leading provider of staffing, consulting, and workforce management services across the Healthcare IT industry, acquired MedSys Group, a premier Healthcare IT consulting firm based in Plano, Texas. This strategic acquisition will significantly enhance CSI’s capabilities in the Healthcare IT market, providing comprehensive solutions to a wider range of clients.

“We are thrilled to welcome MedSys Group to the CSI family,” said Chris Flakus, CEO at CSI Companies. “This acquisition bridges the gap in healthcare organizations and provides our clients with the right tools and strategies to increase operational efficiencies and the quality of patient care.”

MedSys Group brings extensive expertise in Healthcare IT consulting, implementation, and support. Together, the combined entity will offer a more robust suite of solutions, including enhanced consulting, expanded implementation services, and comprehensive support. These offerings will provide strategic guidance, optimize operations, ensure seamless system integration, and improve proactive maintenance and issue resolution.

This acquisition aligns with CSI Companies’ strategic vision to bring innovative solutions that drive healthcare organizations forward. By combining the strengths of CSI Companies with MedSys Group, service delivery for our healthcare IT clients will be even greater.

“We are thrilled to welcome MedSys Group to the CSI family,” said Chris Flakus, CEO at CSI Companies.

“This acquisition bridges the gap in healthcare organizations and provides our clients with the right tools and strategies to increase operational efficiencies and the quality of patient care.”

Alan Kravitz, CEO at MedSys Group, added, “This unification will enable us to offer our clients a broader range of services and resources. We share a common commitment to excellence, innovation, and customer satisfaction, making this a natural fit.”

About CSI Companies

CSI Companies is a leading workforce solutions provider headquartered in Jacksonville, Florida. Founded in 1994, CSI Companies has expanded over the years to include a comprehensive range of services for diverse healthcare organizations. CSI Companies was acquired by Recruit Holdings in 2010, one of the world’s largest providers of HR services and the parent company of Indeed and Glassdoor. As a boutique division of Recruit, CSI has the resources necessary to scale with any enterprise, yet is small enough to maintain the agility, personal service, and remarkable experience it’s become known for since its founding.

About MedSys Group

Founded in 1995, MedSys Group is a leading Healthcare IT consulting firm driven by a passion for improving patient care. Specializing in solving complex healthcare IT challenges and aligning optimal solutions between organizations, patients, and communities, Medsys is dedicated to closing the gaps between IT systems and patient care. The team at Medsys Group defines its success by the success of its clients, fostering strong relationships, and partnering with some of the nation’s top healthcare companies.

Shared Values

Both CSI Companies and MedSys Group share a strong commitment to:

Customer Focus: Delivering exceptional value and exceeding client expectations.Innovation: Embracing cutting-edge solutions to drive business growth.Collaboration: Fostering strong partnerships with clients and employees.Excellence: Striving for the highest standards of quality and service.

To learn more visit CSICOMPANIES.COM

Media Contact Information

Samantha Sotter

Director of Marketing

ssotter@csicompanies.com

904.930.4388

Media Contact

Naomi Fraser, CSI Companies, 1 904.930.4388, nfraser@csicompanies.com, https://csicompanies.com/

View original content:https://www.prweb.com/releases/csi-companies-acquires-medsys-group-expanding-healthcare-it-services-302347135.html

SOURCE CSI Companies

Continue Reading

Technology

Thinkpal learning tablet from Think Academy wins TechRadar Pro Picks and Trusted Reviews Best in Show awards at CES 2025

Published

on

By

LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — Think Academy debuted its Thinkpal tablet at CES 2025 and has won a TechRadar Pro Picks and Trusted Reviews Best in Show awards for this innovative new product.

Both awards are given to innovative products and solutions at CES that stand out from a packed crowd. Think Academy President, Alex Peng, was presented the awards at CES, noting the awards were given to Thinkpal because it is both a wholly unique product in the education technology market and also provides such value to parents and educators.

Designed to transform the way kids learn, explore, and thrive in an ever-evolving world, the Thinkpal is powered by cutting-edge AI that serves as a guide and tutor for young learners. With significant learning loss experienced in recent years, families and educators have faced unprecedented challenges as test scores in reading and math have seen steady declines. Parents have expressed their struggles in reigniting their children’s passion for learning, while educators grapple with the complexities of bridging diverse learning gaps.

To meet these challenges, the Thinkpal tablet offers a tailored, AI-powered solution that provides step-by-step writing guidance and real-time math support, making learning more intuitive and enjoyable.

Alex Peng introduced several key features of the Thinkpal during a press event. He showed the audience how Thinkpal’s “GeniusTutor,” an AI-powered system that transforms learning into an interactive and engaging experience, is the heart of this product’s features. Built on the Microsoft Azure OpenAI GPT-4o model, GeniusTutor provides real-time guidance and feedback, empowering students to:

Conquer complex math problems through logic-driven, step-by-step explanationsMaster writing with interactive prompts and instant feedback that build confidence and creativityEnhance vocabulary and reading skills with innovative tools like “Point-and-Discover,” where children can point to words in a physical book, and the tablet’s camera instantly provides explanations, along with guided reading exercises

Adding a touch of fun and companionship, “Thinkie,” an advanced AI-powered learning companion, engages children through voice-based natural language interactions. Thinkie chats, answers questions, and fosters curiosity, making the learning process enjoyable and dynamic.

With an extensive library of ebooks, gamified coursework, and compatibility with popular applications like Google Classroom, the Thinkpal Tablet is a versatile tool for modern families. The 11-inch TÜV Rheinland-certified eye-care screen also safeguards children’s vision during extended use, while the optional keyboard transforms the tablet into a Chromebook-like device, enhancing productivity and usability.

“Our mission is to provide every child with a personalized, world-class tutor that inspires confidence and a lifelong love for learning”, noted Alex Peng during a media interview Q&A. “We’re honored that TechRadar and Trusted Reviews recognize the potential of the Thinkpal to improve learning through advanced and accessible technology.”

The Thinkpal Tablet will be available for $249 ($339 including keyboard) at shop.thethinkacademy.com. Pre-orders open today.

About Think Academy

Think Academy, a subsidiary of TAL Education Group (NYSE: TAL), has been at the forefront of education innovation for over two decades. Serving more than 5 million K-12 students across 10+ countries, Think Academy is dedicated to creating fair and comprehensive educational opportunities. By integrating advanced technology with expert curriculum design, Think Academy is shaping the future of learning to be more accessible, engaging, and impactful.

For media inquiries, contact:
Cecilia Qian
cecilia@impact5r.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/thinkpal-learning-tablet-from-think-academy-wins-techradar-pro-picks-and-trusted-reviews-best-in-show-awards-at-ces-2025-302348472.html

SOURCE Think Academy

Continue Reading

Trending