The Significance of Robotics as a Service
The robotics solution providers have introduced a new way to deploy robotic services to cater to the growing demand for advanced automation capabilities across multiple industries. Robotics-as-a-Service (RaaS) is a new implementation approach that broadly refers to robotics service providers who lease their products to customers as a full service believing that this service would drive the invention of transformative technologies and unlock a new phase of market development in robotics.
Using RaaS, end users can deploy solutions without huge initial investments, therefore, they can shift from capital expenditure (capex) to operational expenditure (opex). According to a report by ABI Research, a market-foresight advisory firm, RaaS installations are most likely to grow from 4,442 units in 2016 to 1.3 million units in 2026 increasing the yearly revenue of RaaS providers from $217 million to $34 billion in these 10 years. The report also mentioned that from 2016 to 2026, there will be an approximate 66 percent growth in the Compound Annual Growth Rate (CAGR) of industries like logistics, manufacturing, and hospitality which leverage the services RaaS providers. Experts believe that RaaS can play a great role in establishing robotics in every industry.
However, to achieve the above mentioned CAGR, there is a need for RaaS providers to introduce and deploy OPEX-driven models in a large scale. Also, they need to educate the market about the various potentials of OPEX model including flexibility, scalability, and upgradability that would enable them to establish long-term relationships with end customers.