Robotics - Costa Rica | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$18.26m in 2024.
Service robotics dominates the market with a projected market volume of US$13.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.03%, resulting in a market volume of US$35.19m 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 Costa Rica is experiencing steady growth due to factors such as increasing adoption of automation, rising demand for efficient and cost-effective manufacturing processes, and advancements in technology. The industrial and service robotics sub-markets are driving the overall growth, but the market's growth rate is impacted by the country's limited access to technology and skilled labor.

Customer preferences: As the demand for automation and efficiency in the manufacturing sector continues to rise, consumers in Costa Rica are showing a growing interest in robotics solutions. This trend is fueled by the country's strong focus on technological advancements and the need for increased productivity. Additionally, the growing acceptance and adoption of industrial robots in various industries, such as automotive and electronics, are contributing to the growth of the Robotics Market market in Costa Rica.

Trends in the market: In Costa Rica, the Robotics Market is experiencing a surge in the adoption of automation and artificial intelligence technologies, particularly in the manufacturing and healthcare sectors. This trend is driven by the country's push towards becoming a more technologically advanced and competitive economy. As a result, industry stakeholders are investing heavily in research and development to enhance the capabilities of robotics and harness their potential to increase productivity and efficiency. This trend is expected to continue in the coming years, with implications for job creation, cost savings, and overall economic growth.

Local special circumstances: In Costa Rica, the Robotics Market is influenced by the country's strong focus on technology and innovation. The government has invested in creating a supportive environment for startups and research and development, leading to a growing community of robotics companies. Additionally, Costa Rica's location in Central America serves as a strategic gateway for companies looking to expand into the Latin American market. This has attracted international players to establish a presence in the country, further driving the growth of the Robotics Market.

Underlying macroeconomic factors: The Robotics Market in Costa Rica is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with strong technological infrastructure and favorable government policies are experiencing faster market growth compared to those with limited resources and regulatory challenges. The increasing demand for automation and robotics solutions in industries such as manufacturing, healthcare, and agriculture is also driven by the need for increased efficiency and productivity. Furthermore, the growing trend of digitalization and the adoption of Industry 4.0 principles are expected to further boost the growth of the Robotics Market in Costa Rica.

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.