Robotics - Finland | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$142.50m in 2024.
Service robotics dominates the market with a projected market volume of US$102.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.55%, resulting in a market volume of US$257.40m 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 Finland has been facing a negligible decline in growth rate due to factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience offered by online services. This is evident in both the Industrial and Service robotics sub-markets. However, with the government's focus on promoting innovation and investment in the sector, there is potential for growth in the future.

Customer preferences: As the demand for automation and efficiency in manufacturing and industrial processes continues to rise, the robotics market in Finland is experiencing a shift towards collaborative robots (cobots). These robots are designed to work alongside human workers, increasing productivity and reducing risks of workplace injuries. This trend is driven by a growing focus on workplace safety and the need for cost-effective solutions in the manufacturing sector. Additionally, with an aging population, the use of cobots can help alleviate labor shortages and improve overall productivity in the long run.

Trends in the market: In Finland, the Robotics Market is experiencing a surge in the use of collaborative robots, also known as cobots, in manufacturing and production processes. This trend is driven by the need for increased efficiency and flexibility in manufacturing, as well as the growing demand for automation in various industries. Additionally, there is a rise in the development and adoption of artificial intelligence and machine learning technologies in robotics, enabling robots to perform more complex tasks. These trends are significant as they allow for better productivity, cost savings, and improved safety for workers. However, they also pose potential implications for stakeholders, such as job displacement for low-skilled workers and the need for upskilling to operate and maintain these advanced robotic systems.

Local special circumstances: In Finland, the Robotics Market is growing rapidly due to the country's strong focus on innovation and technology. The government has implemented policies to support the development of robotics, leading to a favorable environment for businesses in this sector. Additionally, Finland's advanced educational system produces a highly skilled workforce, further driving the growth of the market. Furthermore, the country's cold climate and vast forests have created a need for automation in industries such as forestry and agriculture, further fueling the demand for robotics.

Underlying macroeconomic factors: The growth of the Robotics Market in Finland is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Finland has a strong economy with a high level of innovation and skilled workforce, making it an ideal environment for the development and adoption of robotics technology. Additionally, the country's favorable regulatory environment and government initiatives to promote automation and digitalization are further propelling the growth of the robotics market in Finland. Furthermore, the increasing demand for automation and efficiency in various industries, along with the aging population in the country, is driving the adoption of robotics technology in Finland.

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.