Industrial Robotics - Myanmar | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$455.00k in 2024.
Other industry robotics dominates the market with a projected market volume of US$259.30k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -4.36%, resulting in a market volume of US$364.20k 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 Myanmar is witnessing significant growth, driven by factors such as increasing demand for automation in various industries, rising awareness about the benefits of robotics, and the convenience offered by advanced technology. The unknown growth rate is impacted by the adoption of robotics in the Automotive, Chemical, Electric/Electronic, Food, Metal, and other industries, indicating a promising future for the market.

Customer preferences: The demand for industrial robotics in Myanmar has been on the rise, driven by advancements in automation and the need for efficient and cost-effective manufacturing processes. This trend is expected to continue as the country witnesses a shift in consumer preferences towards high-tech and digitally-driven solutions. The rise of smart factories and the adoption of Industry 4.0 technologies are also contributing to the growth of the industrial robotics market in Myanmar. Additionally, with the country's growing economy and increasing investments in manufacturing, there is a growing need for advanced robotics technologies to meet the demand for high-quality and innovative products.

Trends in the market: In Myanmar, the Industrial robotics market is experiencing a surge in demand for automation solutions in various industries, such as manufacturing, healthcare, and logistics. This trend is driven by the government's efforts to modernize the country's economy and attract foreign investments. Additionally, there is a growing awareness among businesses about the benefits of integrating robotics and AI technologies into their operations, such as increased efficiency, cost savings, and improved quality control. As this trend continues, it is expected to have a significant impact on industry stakeholders, including manufacturers, suppliers, and service providers, who will need to adapt to meet the evolving needs of the market. Furthermore, the adoption of industrial robotics is also likely to create new job opportunities and boost the overall economic growth of Myanmar.

Local special circumstances: In Myanmar, the Industrial robotics market is growing due to the country's economic development and increasing investments in manufacturing industries. However, limited technological infrastructure and a shortage of skilled labor pose challenges to market growth. Additionally, the cultural preference for human labor over automation and the government's strict regulations on foreign investments in certain industries also impact the adoption of industrial robotics in the country.

Underlying macroeconomic factors: The Industrial robotics Market within the Robotics Market is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in manufacturing infrastructure. Countries with favorable policies and strong investment in industrial robotics are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Moreover, the increasing demand for automation in various industries, such as automotive, electronics, and healthcare, is driving the growth of the Industrial robotics Market. Additionally, the rising labor costs and the need for increased efficiency and productivity are also contributing to the market's expansion.

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.