Robotics - Cambodia

Cambodia

Revenue in the Robotics market is projected to reach US$4.48m in 2024.
Service robotics dominates the market with a projected market volume of US$3.68m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.74%, resulting in a market volume of US$8.91m 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.

For more information on the data displayed, use the info button right next to the box.

Market

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Analyst Opinion

The robotics market in Cambodia has been experiencing steady growth due to factors such as increasing adoption of automation, rising demand for efficient production, and the convenience offered by service robots. However, the market's growth rate is minimal due to limited access to advanced technology and lack of skilled labor.

Customer preferences: As Cambodia's economy continues to grow, there has been an increasing demand for automation and efficiency in various industries. This has led to a rising interest in robotics technology, as businesses seek to streamline their operations and increase productivity. Additionally, the younger generation in Cambodia is becoming more tech-savvy and open to embracing new technologies, creating a favorable market for robotics. This trend is expected to continue as the country continues to modernize and integrate technology into daily life.

Trends in the market: In Cambodia, the Robotics Market is experiencing a surge in demand for automation solutions in various industries, such as manufacturing, healthcare, and logistics. With the government's push towards modernization and technological advancement, there is a growing trend of incorporating robotics and AI technologies in business operations. This trajectory is significant as it not only increases efficiency and productivity but also reduces labor costs. Furthermore, it presents opportunities for industry stakeholders to tap into this emerging market and offer innovative solutions to meet the evolving needs of Cambodian businesses. However, this trend may also lead to job displacement and require upskilling of the workforce, posing potential challenges for the labor market.

Local special circumstances: In Cambodia, the Robotics Market is still in its nascent stage, with the government recently recognizing the potential of the industry. However, the country's limited technical infrastructure and low technological literacy pose challenges for the market's growth. Moreover, Cambodia's cultural emphasis on agriculture and manual labor may hinder the adoption of robotics technology. Nevertheless, the government's efforts to attract foreign investment and promote STEM education may drive the market's development in the long run.

Underlying macroeconomic factors: The Robotics Market in Cambodia is greatly influenced by macroeconomic factors such as technological advancements, government policies, and investment in infrastructure 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. Additionally, the increasing demand for automation in various industries and the growing need for efficiency and productivity are driving the adoption of robotics solutions in Cambodia and globally.

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.