The age-old adage 'why buy when you can rent?' seems particularly apt for the rapidly evolving world of robotics. For years, organisations have been caught between investing heavily in costly machinery and struggling to keep up with the latest advancements in automation technology. But now, a growing trend towards renting rather than purchasing robots is offering a welcome respite from this dilemma.
Take Moxi, a one-armed robot developed by Diligent Robotics, which has been deployed in US hospitals to transport medical supplies. Instead of shelling out for the machine outright, hospitals subscribe to Moxi's 'robotics-as-a-service' (RaaS) model, bundling the robot, maintenance and upgrades into a single subscription. This not only reduces initial expenditure but also ensures that users can always access the latest software and capability enhancements – as Todd Brugger, Chief Operating Officer at Diligent Robotics, points out.
But it's not just specialist applications where renting is gaining traction. Industrial robots are now available through RaaS from companies like Chicago-based Formic, offering fleets of machines for manufacturing tasks on a flat monthly payment. According to Shawn Fitzgerald, Chief Revenue Officer at Formic, this model shifts the burden of maintenance and potential breakdowns from the user to the provider – so if a robot arm fails, replacing it is their responsibility.
Even humanoid robots are entering the rental market, with California-based 1X planning to offer its NEO home helper robot on a subscription basis, alongside an outright purchase option. The long-term vision here is household assistance – think robots serving guests at events or helping with domestic chores. Ethan Qi, an associate director at Counterpoint Research, notes that renting allows users to bypass the need for deep technical expertise, as support and troubleshooting are handled by the service provider.
The rapid pace of innovation in robotics means that a purchased robot could quickly become outdated – after all, new hardware models and software capabilities are released annually. Renting, on the other hand, offers businesses and consumers the flexibility to access cutting-edge technology without the commitment of a large capital outlay. As the sector continues to evolve at breakneck speed, this ability to upgrade or swap out robots is becoming an increasingly significant advantage.