Industrial Robotics - Bangladesh | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$1.47m in 2024.
Other industry robotics dominates the market with a projected market volume of US$1.34m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.20%, resulting in a market volume of US$1.56m by 2029.
In global comparison, most revenue will be generated China (US$1.62bn in 2024).

Definition:

The Industrial Robotics market covers use cases that focus on the design, manufacturing, and deployment of robotic systems for industrial applications. The market encompasses the use of robots and automation technologies in manufacturing processes, assembly lines, and other industrial settings. This is to improve productivity, efficiency, and precision.

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.

The top five industries that use robotics are the automotive, chemical, metal, electronic, and food industries; however, other industries are also implementing various robotics use cases, but not on the same scale as these top five.

Structure:

The Industrial Robotics market is further split into Automotive Industry Robotics, Chemical Industry Robotics, Electric/Electronic Industry Robotics, Food Industry Robotics, Metal Industry Robotics, and Other Industry Robotics.

Additional information:

The market comprises revenues, volume, and the average price per newly installed robot. It also includes the share of collaborative robots, 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. Software revenues are not included, as industrial robots are mostly used with specific software solutions that belong to the company that deploys them.

Key players in the market include ABB, Epson Robotics, Midea Group, and Yaskawa Electric Corporation.

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Automotive Industry Robotics
Chemical Industry Robotics
Electric/Electronic Industry Robotics
Food Industry Robotics
Metal Industry Robotics
Other Industry Robotics

robots used in non-industrial environments

The industrial robotics market in Bangladesh is facing challenges due to a declining growth rate. Factors such as low investment in automation and lack of skilled labor are impacting the market. However, with increasing adoption of digital technologies and rising awareness about the benefits of automation in various industries, the market is expected to rebound in the coming years.

Customer preferences: As automation and efficiency become crucial for industries in Bangladesh, there has been a growing demand for advanced industrial robotics solutions. This trend is driven by the need for increased productivity, cost reduction, and improved product quality. Additionally, the adoption of industrial robotics is also influenced by the country's young and tech-savvy population, who are open to embracing new technology and processes. This has led to the rise of collaborative robots, which are designed to work alongside humans and are easier to program and operate.

Trends in the market: In Bangladesh, the Industrial robotics market is experiencing a surge in demand for collaborative robots, also known as cobots. These robots are designed to work alongside human workers, increasing efficiency and productivity in industries such as manufacturing, healthcare, and agriculture. This trend is expected to continue as companies look for ways to automate processes and reduce labor costs. Additionally, there is a growing focus on incorporating artificial intelligence and machine learning into industrial robots, allowing them to perform more complex tasks and adapt to changing environments. This not only improves the capabilities of the robots but also creates opportunities for new applications and services within the market. As the country continues to invest in industrial automation, there is significant potential for growth and advancements in the Industrial robotics market in Bangladesh.

Local special circumstances: In Bangladesh, the Industrial robotics market is driven by the country's growing manufacturing industry, with a particular focus on garment production. The government's initiatives to promote automation and modernization in this sector have also contributed to the market's growth. Additionally, Bangladesh's low labor costs and availability of skilled labor have made it an attractive market for industrial robotics. However, the country's limited infrastructure and bureaucratic hurdles pose challenges for companies operating in this market.

Underlying macroeconomic factors: The Industrial robotics market in Bangladesh is largely affected by macroeconomic factors such as technological advancements, government policies, and investment in the manufacturing sector. The country's strong focus on industrialization and automation, coupled with favorable government initiatives, has led to a significant growth in the market. Additionally, the rapid growth of the economy and the increasing demand for efficient and cost-effective manufacturing processes have also contributed to the expansion of the Industrial robotics market in Bangladesh. Furthermore, the country's strategic location and its growing presence in the global supply chain have made it an attractive market for industrial robotics companies.

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.