Robotics - GCC

Revenue in the Robotics market is projected to reach US$353.70m in 2024.
Service robotics dominates the market with a projected market volume of US$318.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.02%, resulting in a market volume of US$464.00m by 2028.
In global comparison, most revenue will be generated in the United States (US$9,716.00m 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.

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Market

Region

Region comparison

Currency

Analyst Opinion

The robotics market in GCC is experiencing slow growth, influenced by factors such as limited adoption of digital technologies in the region, low awareness about the benefits of robotics, and lack of skilled professionals. The sub-markets of industrial and service robotics are also impacted by these factors, hindering overall market growth. Despite this, the GCC region is showing increasing interest in implementing robotics in various industries, which could potentially lead to future growth in the market.

Customer preferences: As GCC countries continue to invest heavily in automation and advanced technologies, the robotics market is experiencing a shift towards more user-friendly and adaptable robots. With a growing emphasis on efficiency and customization, there is a rising demand for collaborative robots that can work alongside human workers. This trend is driven by the need for flexible and agile solutions, with an increasing focus on human-robot interaction and safety protocols. Additionally, there is a growing preference for robots with advanced sensing and perception capabilities, enabling them to navigate complex environments and perform complex tasks with precision.

Trends in the market: In the GCC region, the Robotics Market is experiencing a surge in demand for collaborative robots, or cobots, as they offer increased safety and flexibility in industrial settings. This trend is expected to continue, with cobots projected to be the fastest growing segment in the robotics market. Additionally, with the implementation of Industry 4.0 technologies, such as artificial intelligence and machine learning, the robotics market is expected to witness further growth. This presents opportunities for industry stakeholders to capitalize on the increasing adoption of robotics in various sectors, such as manufacturing and healthcare. Moreover, with the rising need for automation and efficiency in the region, the robotics market is poised for significant growth, making it an attractive market for investors and businesses alike.

Local special circumstances: In the GCC region, the Robotics Market is experiencing significant growth due to the governments' focus on diversification and modernization of industries. The region's strategic geographic location and natural resources have also attracted foreign investment, driving the demand for advanced robotics solutions. Additionally, the cultural significance of innovation and adoption of new technologies in the region has further fueled the growth of the Robotics Market. The supportive regulatory environment and initiatives such as the Saudi Vision 2030 and the UAE National Innovation Strategy have also contributed to the growth of the market.

Underlying macroeconomic factors: The GCC and Robotics Market is heavily influenced by macroeconomic factors such as government support, technological advancements, and investment in research and development. Countries with favorable regulatory environments and strong investment in robotics technology are experiencing rapid market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing need for automation in various industries and the rise in labor costs are driving the demand for robotics solutions, especially among the aging population in developed countries.

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.