Robotics - Cameroon | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$5.05m in 2024.
Service robotics dominates the market with a projected market volume of US$5.05m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.02%, resulting in a market volume of US$12.57m 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.

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

Industrial Robotics
Service Robotics

robots not programmable in two or more axes
robots with no degree of autonomy

The Robotics Market in Cameroon is experiencing minimal decline in growth rate, influenced by factors such as limited adoption of digital technologies, lack of awareness among consumers, and limited access to online services. However, with the potential for growth in both Industrial and Service robotics, the market is expected to see significant growth in the near future.

Customer preferences: The rise in automation and technological advancements has led to an increase in demand for robotics in Cameroon. This trend is driven by the need for increased efficiency and productivity in industries such as manufacturing and healthcare. Additionally, the growing focus on sustainable and environmentally-friendly practices has also led to the adoption of robotics for tasks such as waste management and recycling. Moreover, the emergence of smart cities and the implementation of smart infrastructure projects have further fueled the demand for robotics in Cameroon.

Trends in the market: In Cameroon, the Robotics Market is experiencing a rise in the adoption of robotic solutions for industrial and commercial use. This trend is driven by the country's efforts to modernize its manufacturing sector and improve efficiency. Additionally, there is a growing demand for automation in industries such as healthcare and agriculture. With the government's focus on promoting technological innovation and entrepreneurship, the trajectory of this trend is likely to continue upwards. This presents opportunities for industry stakeholders to invest in and develop advanced robotic technologies to meet the evolving needs of the market. However, it also poses challenges in terms of skill development and job displacement, which stakeholders must address to ensure sustainable growth in the sector.

Local special circumstances: In Cameroon, the Robotics Market is experiencing growth due to the country's strategic location as a gateway to Central and West Africa. With a strong emphasis on education and technological development, the government has actively promoted the adoption of robotics in various industries. Additionally, the country's cultural diversity and entrepreneurial spirit have led to innovative use cases for robotics, such as in agriculture and healthcare. However, the market is also influenced by regulatory challenges, such as limited access to funding and a lack of clear policies for robotics adoption. These unique local factors shape the market landscape in Cameroon and create opportunities for growth and innovation.

Underlying macroeconomic factors: The Robotics Market in Cameroon is heavily influenced by macroeconomic factors such as government policies, technological advancements, and investment in infrastructure. The country's strong economic growth and stable political environment have attracted foreign investments, leading to increased demand for robotics solutions. Additionally, the rising labor costs and shortage of skilled workforce in the manufacturing sector have also driven the adoption of robotics in the country. Furthermore, the growing focus on industrial automation and the need for increased efficiency and productivity are expected to further fuel the growth of the Robotics Market in Cameroon.

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.