Asia Pacific Robotics as a Service Market Size, Share & Industry Trends Analysis Report By Application (Handling, Assembling & Disassembling, Welding & Soldering, Dispensing, Processing), By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Robotics as a Service Market would witness market growth of 17.1% CAGR during the forecast period (2022-2028).
Laundry robots, inspection robots, unmanned surface vehicles (USVs), construction robots, telepresence robots, agricultural robots, remotely operated vehicles (ROVs), robotic kitchens, and exoskeletons are a few examples of RaaS's professional applications. In addition, modern tools like artificial intelligence are attached to these robots to enhance their capabilities in the logistics and defense sectors. For example, these robots are used in the logistics industry for various duties, including handling, sorting, packaging, transportation, and delivery.
The cost of manufacturing robots has greatly decreased due to the quick development of technology and the increase in robot production. The average price of a robot has dropped in the last 30 years by approximately half in real terms and significantly more when compared to labor expenditures. Additionally, it is projected that the production of robots would relocate to low-cost locations, further lowering the manufacturing cost due to the increased demand for robotics from emerging nations.
Due to the extensive deployment of the automotive and electronic manufacturing industries, China and South Korea are influential in using robots. China, which is important to the automotive sector, has seen rapid growth in the automobile industry. The Chinese government sees the country's automotive industry, which includes the auto components business, as one of the main pillar sectors. Government agencies intend to use robots more frequently in the workforce as a result of the elderly demographic in the region. For instance, to determine which areas of public housing blocks require cleaning, the Housing Development Board of Singapore plans to use autonomous drones or robots. By concentrating primarily on the filthy areas, the main goal is to use less water to clean. All these elements are significantly aiding the rise of robotics as a service market in the region.
The China market dominated the Asia Pacific Robotics as a Service Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $299.6 million by 2028. The Japan market is estimated to grow a CAGR of 16.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 17.8% during (2022 - 2028).
Based on Application, the market is segmented into Handling, Assembling & Disassembling, Welding & Soldering, Dispensing, Processing, and Others. Based on End User, the market is segmented into Logistics, Automotive, Manufacturing, Food & Beverages, Aerospace & Defense, Retail, Media & Entertainment, Healthcare, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Robotics as a Service Market is Projected to reach USD 3.7 Billion by 2028, at a CAGR of 16.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Berkshire Grey, Inc., Kuka AG (Midea Investment Holding Co., Ltd.), Cyberdyne, Inc., Knightscope, Inc., Locus Robotics, Exotec SAS, Caja Robotics, Hirebotics, Cobalt Robotics and Relay Robotics, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Assembling & Disassembling
- Welding & Soldering
By End User
- Food & Beverages
- Aerospace & Defense
- Media & Entertainment
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Berkshire Grey, Inc.
- Kuka AG (Midea Investment Holding Co., Ltd.)
- Cyberdyne, Inc.
- Knightscope, Inc.
- Locus Robotics
- Exotec SAS
- Caja Robotics
- Cobalt Robotics
- Relay Robotics, Inc.
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Global Robotics as a Service Market Report 2022-2028
North America Robotics as a Service Market Report 2022-2028
Europe Robotics as a Service Market Report 2022-2028