Industrial Robotics - Finland | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$40.41m in 2024.
Other industry robotics dominates the market with a projected market volume of US$15.11m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.19%, resulting in a market volume of US$45.04m 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 Robotics Market in Finland is facing a negligible decline, influenced by factors such as the slow growth rate of the Automotive industry and the increasing use of automation in the Electric/Electronic and Metal industries. However, rising demand for advanced technology in the Chemical and Food industries is expected to drive growth in the Industrial robotics sub-markets. Additionally, the convenience and efficiency offered by online health services are also contributing to the overall growth of the market.

Customer preferences: As the use of industrial robots continues to increase in Finland, there has been a notable shift towards more collaborative robots that can work alongside humans. This trend is driven by the demand for more flexible and adaptable automation solutions, as well as the desire to create safer working environments. Additionally, the growing emphasis on sustainability and reducing carbon footprint has led to the development of more energy-efficient and environmentally friendly industrial robots.

Trends in the market: In Finland, the Industrial robotics market is experiencing a shift towards collaborative robots that can work alongside humans, increasing safety and efficiency in manufacturing processes. Additionally, there is a growing trend of integrating Artificial Intelligence and Machine Learning into industrial robots, allowing for more advanced and autonomous operations. These trends are significant as they improve the overall productivity and flexibility of industrial processes. They also have potential implications for industry stakeholders, such as increased demand for skilled workers who can operate and maintain these advanced robots, and potential job displacement for those in traditional manufacturing roles.

Local special circumstances: In Finland, the Industrial robotics market is heavily influenced by the country's strong emphasis on innovation and technological advancement. The government's support for research and development in robotics has led to a highly skilled workforce and a favorable business environment for companies in the industry. Additionally, the country's cold climate and vast forests have created a demand for advanced automation solutions in the forestry and agriculture sectors. This unique combination of factors has propelled Finland to the forefront of the global industrial robotics market.

Underlying macroeconomic factors: The growth of the Industrial robotics market in Finland is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's stable economy and favorable business environment have attracted significant investments in the robotics industry, driving market growth. Additionally, the government's initiatives to promote advanced manufacturing and automation have further bolstered the demand for industrial robotics in Finland. The rising demand for cost-effective and efficient production processes, coupled with the increasing adoption of Industry 4.0 technologies, is expected to drive the market for industrial robotics in Finland in the coming years.

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.