Robotics - Belgium

  • Belgium
  • Revenue in the Robotics market is projected to reach US$1.29bn in 2024.
  • Service robotics dominates the market with a projected market volume of US$1.16bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.14%, resulting in a market volume of US$2.61bn 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

 
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Analyst Opinion

The robotics market in Belgium is experiencing mild growth, influenced by factors such as increasing adoption of automation technologies, rising demand for efficient and cost-effective solutions, and the convenience offered by service robotics. Additionally, the growth is driven by the advancements in industrial robotics, which are being adopted by various industries to improve productivity and efficiency. However, the market growth is also impacted by challenges such as high initial costs and concerns about job displacement.

Customer preferences:
The Robotics Market in Belgium has seen a rise in demand for advanced automation solutions, driven by the need for increased efficiency and cost savings. This trend is further accelerated by the aging population and shortage of skilled labor. Additionally, there is a growing emphasis on sustainability and eco-friendliness, leading to the adoption of robots in sectors such as agriculture, waste management, and renewable energy. These factors highlight a shift towards more advanced and environmentally-friendly technologies in the Belgian Robotics Market.

Trends in the market:
In Belgium, the Robotics Market is experiencing a surge in the use of collaborative robots, also known as cobots, in various industries such as manufacturing, healthcare, and logistics. These cobots are designed to work alongside humans, increasing efficiency and safety in the workplace. Additionally, there is a growing trend towards the development of autonomous robots, which can perform tasks without human intervention. This trend is expected to continue in the coming years, with companies investing in research and development to enhance the capabilities of these robots. For industry stakeholders, this trend presents opportunities for increased productivity and cost savings, but also raises concerns about potential job displacement. As the use of robotics becomes more prevalent, it is crucial for companies to carefully consider the impact on their workforce and implement strategies to mitigate any negative effects.

Local special circumstances:
In Belgium, the Robotics Market is thriving due to the country's strategic location and highly skilled workforce. With its close proximity to major European markets, Belgium serves as a hub for robotics innovation and production. Additionally, the country's strict regulations on data privacy and security have boosted the adoption of robotics in industries such as healthcare and manufacturing. This unique combination of factors has led to a highly competitive and technologically advanced Robotics Market in Belgium.

Underlying macroeconomic factors:
The Robotics Market in Belgium is heavily impacted by macroeconomic factors such as technological advancements, government support, and investment in research and development. 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 research and development. Additionally, the high demand for automation in various industries and the need for efficient and cost-effective production processes are driving the growth of the robotics market in Belgium.

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.

Overview

  • Revenue
  • Key Players
  • Volume
  • Collaborative Robots
  • Price
  • Autonomous mobile robots
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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