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

3 hours ago

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

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Technology

Arf Earns Third Consecutive PAY360 Award for Pioneering Innovation in Global Payments

Published

50 mins ago

on

October 10, 2024

By

ZUG, Switzerland, Oct. 10, 2024 /PRNewswire/ — Arf, a leading global liquidity platform for licensed financial institutions, has been honored with a Silver at the 2024 PAY360 Awards for the “Best Use of Digital Currencies/Assets in Financial Services” category.

Organized on October 2nd in London by The Payment Association, the PAY360 Awards celebrate companies that push technological boundaries in the payments industry. Arf’s Silver Award highlights its pioneering efforts to leverage blockchain technology and digital assets to create real-time, on-chain liquidity solutions, driving efficiency and transparency in cross-border payments.

This award reflects Arf’s mission to solve global liquidity challenges with compliant, scalable solutions and empower financial institutions with instant and secure access to liquidity. Earlier this year, Arf merged with Huma Finance, integrating its liquidity solutions into Huma’s PayFi network. This merger has accelerated growth, with Arf’s on-chain liquidity volume surpassing $2 billion and loan volume exceeding $1 billion, further expanding its impact in transforming the global payments landscape.

Ali Erhat Nalbant, Co-founder & CEO of Arf, expressed his contentment with the following statements:

“This award highlights Arf’s role in addressing the limitations of traditional fiat systems with our blockchain-powered liquidity solutions. Where fiat struggles with speed and transparency, Arf’s on-chain liquidity provides instant, real-time settlements that empower financial institutions to operate globally without the inefficiencies of legacy systems. Our vision is to bridge the gap between digital assets and traditional finance, creating a seamless, more inclusive financial ecosystem for institutions across the world.”

The 17th PAY360 Awards, hosted by The Payment Association, honor excellence in categories such as Best Consumer Payments Programme, Best Lending Initiative, and Best Open Banking Initiative. This is Arf’s 3rd consecutive award at the PAY360 Awards. Two years ago, Arf won a Silver Award in the “Best Use of Crypto and/or Blockchain in Financial Services” category, and last year, Arf won in the “Best Lending Initiative” category. This year’s recognition further solidifies Arf’s reputation as a leader in leveraging digital assets to tackle complex financial challenges and drive innovation in cross-border payments.

About Arf

Arf, a regulated financial institution based in Switzerland, is a global transaction services platform that provides scalable on-chain settlement liquidity for global payments.

 

 

View original content:https://www.prnewswire.com/apac/news-releases/arf-earns-third-consecutive-pay360-award-for-pioneering-innovation-in-global-payments-302271735.html

SOURCE Arf

Continue Reading

Technology

New Waters Discovery Core Rheometer Brings the Power of Rheology to Routine Quality Control Testing

Published

50 mins ago

on

October 10, 2024

By

News Summary:

Easy-to-use, compact analyzer makes rheological insights more accessible to quality testing laboratories and material production facilities in batteries, pharmaceuticals, food, consumer goods, and other industries.Powered by RheoGuide™ Software, a streamlined, modern touchscreen user interface with built-in self-guided methods, workflows, and training applications to simplify rheological testing for all users.Superior analytical performance at an affordable price, with up to 2x better torque sensitivityi of comparable rheometers on the market.

DETROIT, Oct. 10, 2024 /PRNewswire/ — The Battery Show — Waters Corporation (NYSE:WAT) today introduced the TA Instruments™ Discovery Core Rheometer, a streamlined, modern rheometer designed for routine manufacturing quality control and assurance laboratories. The new analyzer can handle multiple material types such as battery slurries, printing inks, food, and personal care products and it features an easy-to-use touchscreen interface with self-guided training, methods, and applications for all levels of rheology users.

The Discovery™ Core Rheometer expands the company’s industry-leading rheology portfolio, providing superior performance at an affordable price over commercial viscometers and other similarly appointed rheometers, delivering up to 2x lower torque sensitivity. The compact instrument requires half the bench space of comparable modular rheometersii and owes its smaller size to the use of self-contained temperature control and electronics.

“Waters has long been a leader in high-performance rheometers, delivering superior results that inspire better decision-making. With the Discovery Core Rheometer, we’re making world-class rheological testing available to a wider number of testing labs that screen products for consistent behavior and quality,” said Jianqing Bennett, Waters Corporation Senior Vice President of the TA Instruments Division. “Designed specifically for at/in-line manufacturing quality control testing, this streamlined, modern rheometer will allow better assessment of battery electrode slurry batch performance, helping to improve overall battery outcomes while reducing waste and production costs.”

“Rheology profiling delivers a wealth of material insights beyond viscosity measurements. Rheology’s dynamic, oscillatory measurements and controlled stress profiling approaches are becoming mainstream as their value to formulators, process developers, and quality controllers becomes more apparent,” said Neil Cunningham, Founder and CEO, Centre for Industrial Rheology. “The Discovery Core Rheometer serves a significant unmet need in the marketplace for a high-performance rheometer in an accessible package, bringing the benefits of rheology and viscosity measurements to a whole new audience.”

The instrument comes equipped with the new RheoGuide™ Software user interface (UI), designed for immediate walk-up use. This UI provides self-guided training applications and pre-defined methods coupled with on-screen alerts and indicators for easier sample set-up, faster, real-time data analysis, and improved operator safety. The Discovery Core Rheometer shares methods and raw data file formats with other Discovery Hybrid Rheometers through TA Instruments TRIOS™ Software, enabling consistent measurements and data review from R&D to production.

The Discovery Core Rheometer is orderable today, with worldwide availability in Q1 2025.

Additional Resources

Learn more https://www.tainstruments.com/discovery-core-rheometerVisit us at Booth 6639 at The Battery Show Oct. 7-10, 2024, in DetroitFollow and connect with the Waters TA Instruments Division via LinkedIn, Twitter/X, and Facebook

About Waters Corporation (www.waters.com)

Waters Corporation (NYSE:WAT), a global leader in analytical instruments and software, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, food, and environmental sciences for more than 65 years. With approximately 7,500 employees worldwide, Waters operates directly in 35 countries, including 15 manufacturing facilities, and with products available in more than 100 countries.

TA Instruments, Discovery, TRIOS, and RheoGuide are trademarks of Waters Technologies Corporation.

Contact:

Laura Borland
Director, TA Instruments Business Communications
Waters Corporation
laura_borland@waters.com
+1.302.367.6958

i Discovery Core Rheometer has a minimum torque in oscillation (viscoelasticity) of 0.5 microN.m and a minimum torque in flow (viscosity) of 0.5 microN.m.

ii Includes industry-leading viscometers and rheometers with temperature control capabilities requiring liquid circulation.

 

View original content:https://www.prnewswire.com/apac/news-releases/new-waters-discovery-core-rheometer-brings-the-power-of-rheology-to-routine-quality-control-testing-302271730.html

SOURCE Waters Corporation

Continue Reading

Technology

Ricoh Recognised as a Leader in Print Security by Quocirca for 2024

Published

50 mins ago

on

October 10, 2024

By

TOKYO, Oct. 10, 2024 /PRNewswire/ — Ricoh has once again been named a leader in the print security market, according to the latest Print Security Landscape 2024 report from Quocirca, a leading market research and insight firm. The report highlights Ricoh’s commitment to providing comprehensive, security-focused solutions to safeguard customers against the evolving threat landscape.

As more organisations shift to hybrid working models, the need for enhanced print security has become increasingly critical. Quocirca’s research shows that 67% of organisations experienced a data loss due to insecure printing practices in the past year. Against this backdrop, Ricoh’s robust portfolio of secure print services and solutions, including the flagship IM C Series A3 multifunction printers, are instrumental in protecting the data of businesses of all sizes, further solidifying Ricoh’s position as an industry leader.

Proactive Security for the Modern Workplace

Ricoh’s recognition by Quocirca reflects its proactive approach to security, integrating hardware, software, and services into a comprehensive defence strategy. As hybrid working blurs the boundaries of traditional office environments, Ricoh’s solutions address the complexities of securing both office and remote location printing environments.

“Ricoh is dedicated to helping organisations safeguard their data and infrastructure,” said Kei Uesugi, Managing Director of Ricoh Asia-Pacific. “Being named a leader in print security by Quocirca once again underscores our commitment to ensuring that businesses can operate securely, wherever their people are working.”

Key Strengths That Set Ricoh Apart

The Print Security Landscape 2024 report highlights several key strengths of Ricoh’s security offerings, including its multi-layered approach to print and document management security. Ricoh’s portfolio addresses critical areas such as device and data security, compliance with global standards, and zero-trust architecture.

Presence in approximately 200 countries and territories around the world.Significant and comprehensive security-led offerings across the hardware and solutions portfolio.Mature IT services provide a depth of security understanding.

Tailored Solutions for a Changing Landscape

With cyber risks on the rise, Ricoh has developed secure print services to meet the diverse needs of its global customer base.

The report specifically highlights Ricoh’s Cloudstream and Streamline NX print management solutions for features such as automatic updates, advanced monitoring and reporting, policy enforcement, and remediation.

Read an Excerpt of the Report:
Quocirca Print Security Landscape 2024 Excerpt

-Ends-

| About Ricoh |

Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support the digital transformation of workplaces, workspaces and optimise business performance.

Headquartered in Tokyo, Ricoh’s global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organisational capabilities nurtured over its 85-year history. In the financial year ended March 2024, Ricoh Group had worldwide sales of 2,348 billion yen (approx. 15.5 billion USD).

It is Ricoh’s mission and vision to empower individuals to find ‘Fulfillment through Work’ by understanding and transforming how people work so we can unleash their potential and creativity to realise a sustainable future.

For further information, please visit www.ricoh.com

###

© 2024 RICOH ASIA PACIFIC PTE LTD. All rights reserved. All referenced product names are the trademarks of their respective companies.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ricoh-recognised-as-a-leader-in-print-security-by-quocirca-for-2024-302271597.html

SOURCE Ricoh Asia Pacific Pte Ltd

Continue Reading

Trending