Robotics - Brunei Darussalam

Brunei Darussalam

Revenue in the Robotics market is projected to reach US$2.15m in 2024.
Service robotics dominates the market with a projected market volume of US$2.15m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.44%, resulting in a market volume of US$2.76m by 2028.
In global comparison, most revenue will be generated in the United States (US$9,716.00m 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 Brunei Darussalam is facing a decline in growth rate, influenced by factors such as limited adoption of digital technologies, lack of awareness among consumers, and the underdeveloped nature of the country's Industrial and Service robotics sub-markets. However, with increasing government initiatives and investments, the market is expected to witness a gradual growth in the coming years.

Customer preferences: The demand for advanced robotics technology in Brunei Darussalam is increasing, driven by a growing interest in automation and a need for efficient and accurate production processes. With a young and tech-savvy population, there is a strong cultural inclination towards adopting cutting-edge solutions. Additionally, the rise of e-commerce and online shopping has created a need for automated warehouse and logistics systems, further boosting the demand for robotics in the country.

Trends in the market: In Brunei Darussalam, the Robotics Market is experiencing a surge in demand for automated solutions in industries such as manufacturing, healthcare, and logistics. This trend is driven by the government's efforts to promote technological advancements and increase efficiency in the workforce. As a result, there is a growing focus on research and development of advanced robotic technologies, such as artificial intelligence and machine learning. These trends have significant implications for industry stakeholders, as they must adapt to the changing landscape and invest in innovative solutions to remain competitive in the market. Additionally, it opens up opportunities for collaboration with international players and the potential to tap into the global robotics market.

Local special circumstances: In Brunei Darussalam, the Robotics Market is primarily driven by the country's strategic location and its efforts to diversify its economy. As one of the world's largest oil producers, the country has invested in advanced technologies such as robotics to reduce its reliance on the oil sector. Additionally, Brunei has a strong focus on education and has established partnerships with leading institutions to promote research and development in the field of robotics. However, the small population and limited market size pose challenges for the growth of the robotics market in the country.

Underlying macroeconomic factors: The Robotics Market in Brunei Darussalam is influenced by macroeconomic factors such as technological advancements, government support, and investment in the manufacturing sector. Countries with favorable policies and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding for research and development. Moreover, the increasing demand for automation in industries such as automotive, electronics, and healthcare is driving the growth of the robotics market in Brunei Darussalam.

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.