Robotics - Albania | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$3.03m in 2024.
Service robotics dominates the market with a projected market volume of US$3.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.71%, resulting in a market volume of US$5.04m by 2029.
In global comparison, most revenue will be generated United States (US$9.42bn in 2024).

Definition:

The Robotics market refers to the industry that encompasses the design, development, manufacturing, and deployment of robotic systems and technologies. It involves the creation of machines that perform tasks autonomously or with minimal human intervention. These machines, also known as robots, mimic human actions and/or perform specialized functions in various sectors. These sectors include manufacturing, healthcare, agriculture, logistics, defense, and entertainment.

A robot is defined as a powered machine that is programmable on two or more axes and has some degree of autonomy; it moves within its environment to perform its programmed tasks.

Structure:

The Robotics market shows the market size of robotics in industrial and service use cases. In Industrial Robotics, there are six distinct markets:

The Automotive Industry Robotics market
The Chemical Industry Robotics market
The Electric/Electronic Industry Robotics market
The Food Industry Robotics market
The Metal Industry Robotics market
The Other Industry Robotics market

Service Robotics is further split into:

The Commercial Service Robotics market, which contains the Agriculture, Logistics, Medical and Other Service Robotics markets
The Consumer Service Robotics market, which contains the Domestic and Entertainment Robotics markets

Additional information:

Data includes revenues, volume, and the average price per newly installed robot. It also examines the level of automation, the share of collaborative robots, and investment in robotics, as well as a list of the key players in the market and their consolidated revenues. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Industrial Robotics does not include software revenues, as industrial robots are mostly used with specific software solutions that belong to the company that deploys them. For Service Robotics, software revenues are considered, as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Kuka, ABB, Boston Dynamics, and Yaskawa Electric Corporation.

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Industrial Robotics
Service Robotics

robots not programmable in two or more axes
robots with no degree of autonomy

In Albania, the Robotics market is experiencing a negligible decline in growth rate, influenced by factors such as limited adoption of digital technologies, low awareness among consumers, and lack of convenience in online services. Both Industrial and Service robotics sub-markets are impacted by these factors, hindering the overall growth of the market.

Customer preferences: As technology continues to advance, consumers in the Robotics Market are increasingly looking for more sophisticated and intelligent robots to meet their needs. This trend is fueled by a growing demand for automation and efficiency in various industries. Additionally, there is a rising interest in socially assistive robots, as consumers seek companionship and emotional support from these advanced machines. This shift towards more advanced and emotionally intelligent robotics is driven by a desire for human-like interactions and personalized experiences.

Trends in the market: In Albania, the Robotics Market is experiencing a surge in the adoption of Artificial Intelligence (AI) and Machine Learning (ML) technologies. This trend is driven by the increasing demand for automation in various industries such as manufacturing, healthcare, and logistics. As more companies invest in these technologies, the trajectory of this trend is expected to continue upward. This has significant implications for industry stakeholders, as it will lead to increased efficiency, cost savings, and improved accuracy in operations. Additionally, it will also create new job opportunities in the fields of AI and ML, further contributing to the growth of the market.

Local special circumstances: In Albania, the Robotics Market is experiencing significant growth due to the country's favorable geographic location as a gateway to Europe and its well-developed infrastructure. Additionally, the government's focus on promoting innovation and technology has led to a supportive regulatory environment for the robotics industry. This, combined with the country's skilled workforce and relatively low labor costs, has attracted foreign investments and boosted the market's growth. Furthermore, the cultural emphasis on education and continuous learning has led to a high adoption rate of robotic technologies in various industries, such as manufacturing and healthcare.

Underlying macroeconomic factors: The Robotics Market in Albania is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investments in the manufacturing sector. With the rise of automation and Industry 4.0, the demand for robotics solutions in the country is expected to increase. Additionally, the government's focus on promoting innovation and digitalization in the manufacturing sector is creating a conducive environment for the growth of the Robotics Market. Moreover, the country's stable economic health and favorable business climate are attracting foreign investments, further driving the market growth.

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Despite the frightening, almost Terminator-esque, way the phrase “there are robots everywhere” might sound, the increased use of robotics has been a boon to both consumers and enterprises worldwide. The industrial robot market has seen steady growth across the globe and is expected to continue growing as automation becomes ever more vital to businesses. This stems largely from mechanical automation, reducing production costs and improving efficiency. This increased demand due to greater automation, especially in the United States and Europe, is likely to mean that the price increase per robot unit will remain modest.