Robotics - Croatia | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$27.58m in 2024.
Service robotics dominates the market with a projected market volume of US$14.98m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.44%, resulting in a market volume of US$41.35m 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 Croatia has been facing a negligible decline in growth rate, impacted by factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience offered by online services. This can be attributed to the sub-markets of Industrial and Service robotics, which have different growth trajectories.

Customer preferences: The growing interest in automation and efficiency has led to an increase in demand for robotics technology in Croatia. With a strong focus on innovation and technological advancements, the country has become a hub for robotics development. This trend is also driven by the need for cost-effective solutions and the desire to improve productivity in various industries. Additionally, the rise of smart homes and the Internet of Things has created opportunities for the integration of robotics in daily life, such as home cleaning and security systems.

Trends in the market: In Croatia, the Robotics Market is seeing a rise in the adoption of collaborative robots, also known as cobots, in manufacturing and industrial processes. These cobots, which can work alongside humans, are gaining popularity due to their flexibility, ease of use, and cost-effectiveness. This trend is expected to continue, with the market for cobots projected to grow at a compound annual growth rate of over 30% in the next few years. This has significant implications for industry stakeholders, as cobots can improve productivity, reduce labor costs, and enhance workplace safety. Additionally, with the increasing focus on automation and digitalization, the demand for cobots is expected to further increase in the coming years.

Local special circumstances: In Croatia, the Robotics Market is experiencing growth due to the country's strong manufacturing industry and government initiatives to promote automation. The market is also influenced by Croatia's geographic location, with its close proximity to other European countries creating opportunities for cross-border collaborations and exports. Additionally, the country's strong focus on STEM education and its growing tech startup scene contribute to the development of the Robotics Market. However, Croatia's relatively small market size and limited access to funding may pose challenges for companies looking to enter or expand in the market.

Underlying macroeconomic factors: The Robotics Market in Croatia is heavily impacted by macroeconomic factors such as technological advancements, government support, and investment in industrial infrastructure. 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 need for cost-effective solutions are driving the growth of the robotics market in Croatia. The country's stable economic health and favorable fiscal policies also contribute to a positive market outlook for robotics.

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.