How Robotics-as-a-Service Could Fuel Growth of Construction Robotics Market

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Research and consulting company, Straits Research, has released a study on the construction robotics market. According to the report, the market was worth $50 million in 2021. Analysts expect it to reach more than $164 million by 2030 at a CAGR of 14% during the forecast period (2021 to 2030).

One of the driving factors of market growth is the use of robots in construction for worker safety. Companies implement robotic systems in hazardous environments instead of human workers. Automation, which is a part of robotics adoption, can also reduce human error, conflicts, and accidents. Since companies can reduce all these risk factors, they can increase productivity, save time, and improve precision and efficiency. All these can contribute to significant economic benefits.

Moreover, construction is a heavily regulated industry. Companies must ensure their construction site is safe. They must also follow safety regulations to avoid explosions, electrocutions, and asphyxiation. Using robotic systems not only reduces the financial and human costs associated with worksite accidents. They also make it easier for companies to adhere to government regulations for safety.

Another factor boosting robotics in construction is urbanization. According to the World Bank, “approximately 55% of the world population, which counts for 4.2 billion people, are currently living in cities.” Experts estimate this number to double by 2050. As urbanization continues, governments will need to build housing solutions. This will drive investments in infrastructure and construction technologies.

In terms of regional growth, North America and Europe will have the largest share. The former with $54 million at a CAGR of 13% and the latter with $52 million at a CAGR of 14% by 2030. However, the Asia Pacific region will also see significant growth due to the high rate of urbanization in the region.

Robotics-as-a-Service (RaaS)

Robotics technology can certainly offer benefits not only to construction companies but also to other businesses that need their processes automated or streamlined. But not all companies are able to put the huge upfront investment for this tech. This is where robotics-as-a-service (RaaS) can fill the gap.

RaaS adopts the same business model as other cloud services like SaaS. SaaS, for instance, is a preferred enterprise solution in healthcare, discrete manufacturing, and banking and finance industries. For a monthly fee, SaaS providers make it possible for organizations to implement cutting-edge software immediately at a very low cost, without the burden of IT maintenance.

With RaaS, construction companies and other business users are no longer required to make large financial investments before they can reap the benefits of robotics technology. RaaS lowers the barrier for companies to implement robotics.

No RPA Knowledge? No Problem

RaaS has an important role in harnessing the power of robotic process automation (RPA). This is not only because it lowers the financial burden on companies but also the skills required to implement the technology. Workers don’t need to have special knowledge of artificial intelligence or RPA software to have robots help them out in their work. A RaaS provider analyzes processes that need to be robotized, installs the infrastructure, and maintains the robots and the system.

And since there’s no skills barrier, RaaS is also highly scalable and flexible. Companies can easily make changes based on their workflows and as their business grows.

As we learned from the report, robotics in construction will be in high demand. As more businesses across industries move to the cloud and want to leverage the powers of this technology, we can expect RaaS adoption to also become increasingly more popular like its SaaS cousin.