Robotics - Argentina

Argentina

Revenue in the Robotics market is projected to reach US$141.40m in 2024.
Service robotics dominates the market with a projected market volume of US$133.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -7.57%, resulting in a market volume of US$95.37m by 2029.
In global comparison, most revenue will be generated in the United States (US$9,421.00m in 2024).

Key regions: United States, China, South Korea, Japan, Germany

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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Analyst Opinion

The Robotics market in Argentina is steadily growing, driven by factors such as increasing adoption of automation, growing demand for efficient production processes, and the convenience offered by service robotics. However, growth is subdued due to economic challenges and limited government initiatives.

Customer preferences: As technology continues to advance and become more integrated into our daily lives, consumers in Argentina are increasingly turning to robotics for various tasks and activities. The rise in demand for home automation systems and personal robots is fueled by the desire for convenience, efficiency, and personalized experiences. Additionally, the aging population in Argentina is driving the demand for robotic solutions in healthcare and eldercare, as well as in household chores and assistance. This trend is expected to continue as the country's demographic shifts towards an older population.

Trends in the market: In Argentina, the Robotics Market is experiencing a surge in the adoption of collaborative robots (cobots) in manufacturing industries. These cobots are designed to work alongside humans, increasing efficiency and reducing production costs. Additionally, there is a growing trend towards implementing artificial intelligence (AI) and machine learning in robotic systems, enabling them to perform more complex tasks. These advancements are significant as they allow for greater flexibility and customization in production processes, leading to improved productivity and competitiveness in the global market. However, this trend also raises concerns about potential job displacement and the need for upskilling workers to adapt to the changing landscape of the industry.

Local special circumstances: In Argentina, the Robotics Market is seeing growth due to the government's push for digital transformation and modernization in various industries. The country's strong manufacturing sector, coupled with its skilled workforce, presents a favorable environment for the adoption of robotics. Furthermore, the country's geographical location and trade agreements with neighboring countries create opportunities for the export of robotics products. Additionally, the cultural acceptance and familiarity with technology in Argentina contribute to the growth of the robotics market.

Underlying macroeconomic factors: The growth of the Robotics Market in Argentina is influenced by macroeconomic factors such as technological advancements, government support, and investment in automation infrastructure. Countries with favorable regulatory environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding for automation. Additionally, the increasing demand for efficient and cost-effective manufacturing processes, as well as the need for advanced and precise robotics in various industries such as automotive, healthcare, and agriculture, are driving the growth of the Robotics Market in Argentina.

Methodology

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.