Is Robotic as a Service the New Business Model?

Is Robotic as a Service the New Business Model?

by September 7, 2018

In this fast-paced world, shared services are increasingly gaining momentum since they are convenient, cost-effective and easy to implement in business as compared to creating or purchasing a fine customized one. Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) got a jumpstart and were already being implemented. As more and more businesses are moving towards a complete digital transformation, newer technologies such as automation, virtual reality, artificial intelligence and robotics are used for better process efficiency to address the growing business.

Robotics as a Service (RaaS) is a model which is the combination of artificial intelligence, cloud computing and shared services. With robotics as service, clients need not have to buy an integrated solution; they can lease the robotic device as cloud-based service. Robotics as a service offers flexible, purchasing procedure that helps the buyers maintain their bottom line. Also, more employee engagement, customer satisfaction and loyalty are some of the turnarounds which makes robotic as service desirable.


Robots on Cloud and Rented

Robotics as a service is available for business in two different ways- robotics as a cloud service and robots on rental. Both are feasible for businesses.

Robotics as a cloud service makes businesses store data where data are collected by robots in the cloud. The robots across various locations are connected to the cloud. Robots get the access to this shared software and cloud storage. The data captured by the robots can be stacked, centrally stored on cloud-based systems and can be accessed anytime. This makes sure that the data and the process flow is not disrupting the existing businesses. This adds more value to the organizations helping to perform different tasks.


How Would Robotics as a Service Evolve?

Technologies can evolve by providing innovative and efficient solutions to the businesses, the business can use robots to utilize the resources into more human-intensive processes like decision-making and processes involving analytical thinking. Robots are evolving on timely basis along with the supporting technologies by preparing themselves with more diverse information and as their ability for perceiving data increases, the power to make more complex decisions also increases.


How Would Industries Benefit from Robots as a Service?

According to a research conducted by IDC, robotics as a technology has reached the tipping point and robotic process continues to expand with increasing investment in the robot development which drives competition and helps to bring down the cost associated with robots. Lately, there has been an increasing adoption of robotics as a service model in the automotive industry, which pushes other industries like retail, healthcare, logistics, agriculture and education to move towards the same path.

A recent study revealed that two fast-growing industries which are turning robot as a service model are healthcare and manufacturing. Adding to that RaaS delivers a lot of possibilities for mid-segment and giant retailers. Medium-sized retailers use robots for basic stock monitoring and assessment, giant retailers prefer the bots for customer interaction, forecasting demand. Amazon and other big box retailers like Walgreens, Staples and Gap Inc, use robots in their distribution centres for improved packaging and shipping activities. For big retailers and their warehousing and order fulfilment, robotics as a service model can help to optimise operational efficiency, increase return on investment and protect their capital.