Robotics - Guatemala | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$21.74m in 2024.
Service robotics dominates the market with a projected market volume of US$20.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.94%, resulting in a market volume of US$45.55m 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 Guatemala is experiencing a negligible decline in growth rate due to factors such as limited adoption of digital technologies, low awareness about the potential benefits of robotics, and lack of government support. However, the market is expected to grow in the near future with increasing demand for industrial and service robotics in various industries.

Customer preferences: As technology becomes more advanced and accessible in Guatemala, consumers are increasingly turning towards robotics for household tasks and industrial applications. This trend is driven by the desire for efficiency and convenience, as well as the need for cost-effective labor solutions. Additionally, the incorporation of artificial intelligence and machine learning into robotics is allowing for more complex and precise operations, further fueling the market's growth.

Trends in the market: In Guatemala, the Robotics Market is experiencing a surge in demand for industrial robots, as companies look to automate their manufacturing processes and increase efficiency. Additionally, there is a growing trend of using collaborative robots, or cobots, which work alongside human workers to improve productivity and safety. This trend is expected to continue as companies seek to reduce costs and improve production. For industry stakeholders, this presents opportunities for growth and innovation, but also the need for upskilling and retraining of workers to adapt to the changing landscape of the workforce. Additionally, there may be implications for job displacement and the need for regulations to ensure the ethical use of robotics in the workplace.

Local special circumstances: In Guatemala, the Robotics market is still emerging due to the country's limited technological infrastructure. However, with the growing demand for automation and efficiency in industries such as manufacturing and agriculture, the market is expected to experience significant growth. Additionally, Guatemala's close proximity to the United States allows for easy access to advanced technology and expertise, making it an attractive market for international robotics companies. Furthermore, the country's low labor costs and government incentives for foreign investments make it an ideal location for setting up robotics manufacturing facilities.

Underlying macroeconomic factors: The growth of the Robotics Market market is also influenced by macroeconomic factors such as advancements in automation technology, government support, and investment in 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 efficient and cost-effective production processes, as well as the rise in industrial automation, are driving the demand for robotics solutions in various industries.

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.