Global Robotics as a Service Market Report 2023: Anticipated Shortage of Skilled Labor in Manufacturing Industries Drives Growth

DUBLIN, May 2, 2023 /PRNewswire/ — The “Robotics as a Service Market by Type (Personal, Professional), Application (Handling, Processing, Dispensing, Welding & Soldering), Vertical (Logistics, Manufacturing, Automotive, Retail, Food & Beverage) and Region – Global Forecast to 2028” report has been added to  ResearchAndMarkets.com’s offering.

The global robotics as a service market is estimated to be valued at USD 1.8 billion in 2023 and reach USD 4.0 billion by 2028, at a CAGR of 17.4% between 2023 and 2028.

The benefits of the robotics as a service model over the traditional robotic program, such as higher flexibility, scalability, and lower cost of entry, are the key factors driving the robotics as a service market.

Need for automated grinding and polishing for consistent finish to support market for processing application

Processing applications considered in this section include grinding, milling, and cutting. Grinding robots quickly and efficiently process various objects, such as vehicle bodies and wooden planks. Unlike grinding, milling is used to remove a large amount of material from the target object.

Objects of various sizes or shapes can be milled by simply programming the robot. The cutting process is used in various industries for cutting materials such as metal, plastic, fabric, and even food.

Extensive use of robotics by the automotive vertical to drive the market

in October 2022, Affordable Robotic & Automation Ltd. (ARAPL), a turnkey automation solution provider for automotive industries and parking automation, recently announced its entry into the service industry with the launch of its robotics as a service offering. ARAPL’s robotics as a service offers an end-to-end solution approach.

Market Dynamics

Drivers

• Rising Demand for Collaborative Robots Across Industries
• Growing Adoption of Industry 4.0
• Anticipated Shortage of Skilled Labor in Manufacturing Industries
• Reduces Cost in Long Run

Restraints

• Lack of Interaction Between Human Workforce and Robots

Opportunities

• Emergence of Industry 5.0
• Data-Driven Process Improvement

Challenges

• Interoperability and Integration Issues
• Safety Concerns Related to Industrial Robotics Systems

Companies Mentioned

• 6 River Systems, LLC.
• Avidbots Corp.
• Berkshire Grey, Inc.
• Caja
• Cobalt Robotics
• Cyberdyne, Inc.
• Diligent Robotics Inc.
• Dossan Robotics Inc.
• Exotec
• Geekplus Technology Co. Ltd.
• Hairobotics
• Hirebotics
• Invia Robotics
• Knightscope, Inc.
• Kuka AG
• Locus Robotics
• Magazino
• Proven Robotics
• Relay Robotics, Inc.
• Ronavi Robotics LLC
• Temi Usa Inc.

For more information about this report visit https://www.researchandmarkets.com/r/cw7n65

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