Robotics - Burundi | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$312.80k in 2024.
Service robotics dominates the market with a projected market volume of US$312.80k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -13.38%, resulting in a market volume of US$152.50k 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 Burundi is experiencing slow growth due to limited technological advancements and low adoption of automation. Factors such as lack of awareness and limited access to resources also contribute to this slow growth rate. The Industrial and Service sub-markets have limited presence, further impacting the overall growth of the market.

Customer preferences: As technology advancements continue to shape the Robotics Market industry in Burundi, consumer demand for innovative and efficient solutions is on the rise. This trend is driven by the growing preference for automation and artificial intelligence in various sectors, including manufacturing and healthcare. Additionally, the increasing adoption of smart home devices and virtual assistants reflects a shift towards a more connected and digitally-driven lifestyle among Burundian consumers.

Trends in the market: In Burundi, the Robotics Market is experiencing a surge in demand for automation solutions in industries such as manufacturing and agriculture. This trend is driven by the need for increased efficiency and productivity, as well as cost savings. Additionally, there is a growing interest in the use of robotics for social and healthcare purposes, such as assisting the elderly and people with disabilities. These trends are expected to continue on an upward trajectory, creating opportunities for industry stakeholders to tap into the potential of this market. However, there may also be implications for job displacement and the need for upskilling and retraining in the workforce.

Local special circumstances: In Burundi, the Robotics Market is driven by a growing demand for automation solutions in the agriculture sector. The country's hilly terrain and limited access to labor make it challenging for farmers to increase productivity without investing in technology. Additionally, the government's focus on developing the country's manufacturing industry has led to a rise in demand for industrial robots. However, limited technological infrastructure and a lack of skilled labor pose challenges for market growth. Furthermore, cultural factors such as a preference for traditional farming methods and a hesitancy towards new technologies also impact market dynamics.

Underlying macroeconomic factors: The Robotics Market in Burundi is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in robotics are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation in industries such as manufacturing, healthcare, and agriculture is driving the growth of the robotics market in Burundi. Furthermore, the country's growing population and expanding economy present vast opportunities for the adoption of robotics technology, leading to market expansion.

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.