Industrial Robotics - Guatemala | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$1.50m in 2024.
Food industry robotics dominates the market with a projected market volume of US$823.10k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.95%, resulting in a market volume of US$3.56m 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 Guatemala has seen significant growth, propelled by factors like increasing adoption of automation, rising demand for efficiency in various industries, and advancements in technology. With a substantial growth rate, the market is impacted by factors such as the need for precision and accuracy in production, cost-effectiveness, and the rising trend of incorporating robotics in different industries.

Customer preferences: The demand for industrial robotics in Guatemala is on the rise, as companies increasingly look for ways to automate their manufacturing processes. This trend is driven by the need for increased efficiency and cost savings in production. Additionally, there is a growing preference for robots that can perform more advanced tasks, such as collaborative robots that can work alongside humans. This shift towards advanced robotics is also fueled by the country's growing tech-savvy population, who are more open to embracing new technologies in the workplace.

Trends in the market: In Guatemala, the Industrial robotics market is experiencing a surge in demand for collaborative robots, with companies utilizing these advanced machines to improve production efficiency and reduce labor costs. In the global market, there is a growing trend towards the integration of artificial intelligence and machine learning in industrial robots, allowing for more precise and adaptable automation processes. This trend is significant as it enables industries to achieve higher levels of productivity and flexibility. However, it also poses challenges for traditional manufacturing jobs and requires upskilling of workers to keep up with the evolving technology. Industry stakeholders must stay updated with these trends to remain competitive and adapt to the changing landscape of industrial robotics.

Local special circumstances: In Guatemala, the Industrial robotics market is heavily influenced by the country's large agricultural sector. The use of robots in agriculture has seen significant growth due to the government's focus on modernizing the sector and improving efficiency. Additionally, Guatemala's close proximity to the United States has led to an increase in demand for industrial robots in the country's manufacturing industry. This has also been driven by the availability of skilled labor and favorable trade agreements, making Guatemala an attractive market for international robotics companies.

Underlying macroeconomic factors: In Guatemala, the Industrial robotics Market within the Robotics Market is influenced by macroeconomic factors such as the country's economic growth, investments in technology and infrastructure, and government policies. Countries with strong economic growth and investments in technological developments are likely to see faster market growth compared to those with limited resources. Additionally, the rising demand for automation and efficiency in manufacturing processes, along with the need to reduce labor costs, is driving the adoption of industrial robotics in Guatemala. Factors such as the country's trade policies, labor laws, and foreign investment also play a significant role in shaping the market for industrial robotics in Guatemala.

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.