Robotics - Greece

Greece

Revenue in the Robotics market is projected to reach US$52.19m in 2024.
Service robotics dominates the market with a projected market volume of US$42.11m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.92%, resulting in a market volume of US$91.64m by 2029.
In global comparison, most revenue will be generated in the United States (US$9,421.00m 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.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Greek robotics market is seeing minimal growth due to factors like slow adoption of technology and lack of awareness among consumers. However, with the rise of industrial and service robotics sub-markets, the market is expected to witness a steady increase in demand. The convenience and efficiency offered by these advanced technologies are likely to drive growth in the coming years.

Customer preferences: Consumers in Greece are showing a growing interest in robotics and automation solutions, driven by a desire for increased efficiency and productivity. This trend is particularly evident in the manufacturing sector, where companies are adopting advanced robotic technologies to streamline processes and reduce costs. Additionally, there is a rising demand for robotics in healthcare, with hospitals and clinics investing in robot-assisted surgeries and other innovative medical procedures. This shift towards automation and robotics is also influenced by the country's aging population and the need for more advanced and efficient care for elderly individuals.

Trends in the market: In Greece, the Robotics Market has seen a significant increase in the adoption of automation and artificial intelligence technologies. This trend is expected to continue, with a focus on improving efficiency and productivity in various industries such as manufacturing, healthcare, and logistics. As a result, there is a growing demand for skilled professionals in the field of robotics and automation, and companies are investing in research and development to stay competitive. This trend also presents opportunities for startups and small businesses to enter the market and offer innovative solutions. However, it also raises concerns about job displacement and the need for upskilling and retraining of the workforce. Overall, the trajectory of this trend is towards a more technologically advanced and automated society in Greece, with potential implications for industry stakeholders in terms of cost savings, increased productivity, and potential societal impacts.

Local special circumstances: In Greece, the Robotics Market is influenced by the country's strong manufacturing sector and its focus on advanced technology. The government has launched initiatives to promote the adoption of robotics in various industries, such as manufacturing and agriculture. Additionally, the country's favorable geographical location and proximity to key markets in Europe make it an attractive location for robotics companies. The cultural emphasis on innovation and entrepreneurship also contributes to the growth of the robotics market in Greece.

Underlying macroeconomic factors: The Robotics Market in Greece is heavily impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's recent economic recovery has led to increased investment in technology and innovation, driving growth in the robotics market. However, ongoing austerity measures and high unemployment rates have limited consumer spending, hindering market growth. Additionally, Greece's aging population and labor shortages have created a demand for robotics solutions in industries such as healthcare and manufacturing, further driving market growth. Overall, the country's economic landscape plays a significant role in shaping the performance of the Robotics Market in Greece.

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.