Robotics As a Service (RaaS)
Robotics as a Service (RaaS) is becoming increasingly popular, and for good reason. According to Globe Newswire, its market share is expected to increase to USD 44 billion by 2028. But you may argue, what was shared in 2021 was last year; your answer is USD 14.4 billion. The figures are staggering, but not surprising given that the robotics industry is the foundation of our future.
The technology enables businesses to incorporate the benefits of robotics and automation into their business processes. Companies would not have to invest heavily in the purchase, integration, configuration, and maintenance of these costly systems. RaaS is comparable to Software-as-a-Service (SaaS). However, rather than providing access to applications online via the internet via cloud computing, it allows access to robots.
Robotic Process Automation (RPA)?
RPA, or Robotic Process Automation, is a software application that automates repetitive tasks. This technology can be used in industries such as healthcare, finance, and retail. It is used to automate processes that humans normally perform, such as data entry and customer service inquiries.
By eliminating the need for human resources to perform these tasks, RPA can be used to reduce costs and improve efficiency in the automation of these processes. Even though this is a relatively new concept in the market, it has already made waves with its ability to increase company productivity levels.
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