Robotics - Burkina Faso

Burkina Faso

Revenue in the Robotics market is projected to reach US$2.35m in 2024.
Service robotics dominates the market with a projected market volume of US$2.35m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.84%, resulting in a market volume of US$5.57m 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 Burkina Faso is facing a negligible decline in growth rate, influenced by factors such as limited technological adoption and lack of awareness among consumers. However, with the emergence of new sub-markets and advancements in Industrial and Service robotics, the market is expected to experience significant growth in the near future. The convenience and efficiency offered by these technologies are likely to drive the market's growth in Burkina Faso.

Customer preferences: With the rise of automation and technological advancements in Burkina Faso, there has been a growing demand for robotic solutions in industries such as agriculture, manufacturing, and healthcare. This trend is driven by the need for increased efficiency and productivity, as well as the desire to reduce costs and improve safety. Additionally, the younger generation in Burkina Faso is increasingly open to embracing new technologies, creating a conducive environment for the growth of the robotics market.

Trends in the market: In Burkina Faso, the Robotics Market is experiencing a shift towards automation and artificial intelligence. Companies are increasingly adopting automated processes and incorporating robots into their operations, resulting in increased efficiency and productivity. This trend is expected to continue as the country focuses on modernizing its industries and improving its global competitiveness. Additionally, there is a growing demand for skilled workers in the field of robotics, creating opportunities for education and training providers. Overall, this trend has significant implications for industry stakeholders, as it presents both challenges and opportunities for businesses and the workforce in Burkina Faso.

Local special circumstances: In Burkina Faso, the Robotics Market is still in its nascent stage due to limited technological infrastructure and low internet penetration. However, the government has shown interest in promoting the use of automation and robotics in industries such as agriculture and manufacturing. The cultural preference for human labor and the lack of regulations for robotics usage also present challenges for market growth. These factors contribute to a slower adoption rate compared to other markets, but also create opportunities for innovative and tailored solutions to meet the unique needs of the local market.

Underlying macroeconomic factors: The Robotics Market in Burkina Faso is greatly impacted by macroeconomic factors such as technological advancements, government policies, and investment in infrastructure. Countries with supportive regulatory environments and strong investment in robotics are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the growing demand for automation in industries such as manufacturing, agriculture, and healthcare, coupled with the increasing need for cost-effective solutions, is driving the growth of the robotics market in Burkina Faso.

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.