Exploring Robotics-as-a-Service

Exploring Robotics-as-a-Service

Published on
March 6, 2024

Let's dive into the pros and cons of RaaS and highlight some companies leading the way in this emerging market.

In recent years, Robotics-as-a-Service (RaaS) has emerged as an up-and-coming, more accessible solution for businesses across various industries.

According to ABI Research, the Robotics-as-a-Service (RaaS) business model is on the rise, with an expected 1.3 million RaaS installations generating $34 billion in revenue by 2026. Working as a pay-as-you-go or subscription-based model, RaaS allows companies to try out (or use) robotics without the upfront cost that installing a robot from the get-go might trigger. In this newsletter, we'll dive into the pros and cons of RaaS and highlight some companies leading the way in this emerging market.

Pros and Cons of RaaS

Raas pros and cons

While the pros outweigh the cons of a landslide, the cons are actually quite important to take into account, as scalability and customization are key factors to consider.

As the robotics industry continues to evolve, we can expect more RaaS providers to offer hyper-customization and other innovative solutions, which will eventually allow most companies to turn to RaaS as a solution.

Some companies are already making waves in the RaaS space:

  1. Cobalt Robotics: Cobalt's robots provide automated safety and security solutions for businesses and facilities, available through an hourly RaaS model.
  2. InVia Robotics: InVia offers a subscription-based RaaS model for their robots that specialize in logistics, complete with system monitoring and support.
  3. Locus Robotics: With autonomous mobile robots working in various settings, Locus Robotics provides a subscription-based RaaS model, including 24-hour support and updates.
  4. Rapid Robotics: Rapid Robotics offers a plug-and-play RaaS solution for manufacturers, using artificial intelligence to automate quality control and improve productivity.
  5. Vicarious: Vicarious offer a hybrid RaaS model for their AI platform that combines both cloud and on-premises deployment options.

Other companies are already forging ahead with new models as it is, such as Formic Technologies, which offers a unique "pay-per-part" RaaS model, where customers only pay for the parts that are welded by the robot, resulting in a lower upfront cost and no capital expenditure. Path Robotics, on their end, have developed an RaaS model where customers only pay when the robot is actively working, eliminating any upfront costs and minimizing financial risk. This model also includes ongoing maintenance and support for the robot.

This is just the tip of the iceberg, but, it's clear that we can expect further growth and innovation in the years to come.

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