Robotics - Bahrain | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$6.30m in 2024.
Service robotics dominates the market with a projected market volume of US$4.67m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.95%, resulting in a market volume of US$10.12m 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

The Robotics market in Bahrain has shown a mild decline in growth rate, impacted by factors such as limited government support, high initial investment costs, and slow adoption of advanced technologies. However, the market is expected to grow in the future due to increasing demand for automation in industries and the growing need for efficient and cost-effective service robots.

Customer preferences: The demand for advanced robotics technology is rising in Bahrain, driven by the country's push towards automation and digitization. This is fueled by the increasing focus on efficiency and cost-effectiveness in various industries. Additionally, the rise of smart cities and digital infrastructure has created a favorable environment for the growth of the robotics market. This trend is expected to continue as Bahrain moves towards becoming a tech-savvy nation.

Trends in the market: In Bahrain, the Robotics Market is experiencing a surge in the adoption of autonomous robots in industries such as manufacturing, healthcare, and retail. This trend is driven by the government's push towards digital transformation, increasing demand for automation, and advancements in AI and machine learning. As a result, the market is expected to witness significant growth in the coming years. This trend is significant as it improves efficiency, reduces costs, and addresses labor shortages. It also presents opportunities for industry stakeholders to tap into this growing market and develop innovative solutions to cater to the evolving needs of businesses in Bahrain. Furthermore, this trend has the potential to attract foreign investments and position Bahrain as a regional leader in the robotics market.

Local special circumstances: In Bahrain, the Robotics Market is experiencing growth due to the country's strategic location in the Middle East, making it a hub for trade and commerce. Additionally, the government's focus on diversifying the economy and investing in advanced technologies has created a favorable environment for the robotics industry. The country's small population also allows for easier adoption and implementation of robotics, leading to increased efficiency and productivity in various sectors. Furthermore, Bahrain's open and business-friendly culture promotes innovation and entrepreneurship, attracting foreign investments and partnerships in the robotics market.

Underlying macroeconomic factors: The growth of the Robotics Market in Bahrain is also influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. With a stable economy and a favorable regulatory environment, Bahrain is attracting significant investments in the robotics industry. Additionally, the increasing demand for automation and efficiency in various sectors, such as manufacturing and healthcare, is driving the growth of the robotics market in Bahrain. Moreover, the country's strategic location and strong infrastructure make it an ideal hub for robotics companies to set up operations, further contributing to the market's 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.