Robotics - Belarus

Belarus

Revenue in the Robotics market is projected to reach US$19.70m in 2024.
Service robotics dominates the market with a projected market volume of US$16.95m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.18%, resulting in a market volume of US$23.04m 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 Belarus is experiencing a minimal decline in growth rate, influenced by factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience offered by online services. However, sub-markets such as Industrial and Service robotics have the potential to drive growth in the future.

Customer preferences: As technology becomes more advanced and accessible, consumers in Belarus are increasingly incorporating robotics into their daily lives. This trend is driven by a desire for convenience and efficiency, as well as a growing interest in automation and innovation. Additionally, the rise of smart homes and connected devices is fueling the demand for robotic assistants, leading to a shift towards more automated and digitized living spaces.

Trends in the market: In Belarus, the Robotics Market is seeing a surge in demand for automation solutions in various industries, such as manufacturing, healthcare, and logistics. This trend is driven by the country's focus on digital transformation and its efforts to become a hub for high-tech industries. With a growing number of companies adopting robotics and AI technologies, there is a significant opportunity for industry stakeholders to tap into this market. Additionally, the increasing use of robotics in the country's economy can lead to improved efficiency, cost savings, and better quality of products and services. However, this trend also raises concerns about job displacement and the need for upskilling the workforce to adapt to a more automated environment.

Local special circumstances: In Belarus, the Robotics Market is experiencing growth due to the government's focus on developing high-tech industries. The country's strategic location between Europe and Asia also makes it an attractive market for international companies. Additionally, Belarus has a strong tradition of engineering and technical education, providing a skilled workforce for the robotics industry. Furthermore, the government's investment in research and development, as well as favorable regulations for foreign investors, are contributing to the market's rapid growth.

Underlying macroeconomic factors: The Robotics Market in Belarus is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with favorable business environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding for innovation. Additionally, the increasing demand for automation and efficiency in industries such as manufacturing, healthcare, and agriculture is driving the growth of the robotics market in Belarus.

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.