Industrial Robotics - Serbia | Statista Market Forecast

Revenue in the Industrial Robotics market is projected to reach US$11.43m in 2024.
Electric/electronic industry robotics dominates the market with a projected market volume of US$3.74m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.37%, resulting in a market volume of US$14.15m 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 Serbia is seeing limited growth due to various factors such as slow adoption of digital technologies, lack of health awareness among consumers, and limited convenience offered by online services. The sub-markets within the industry, including Automotive, Chemical, Electric/Electronic, Food, Metal, and Others, also have a significant impact on the overall market's growth rate.

Customer preferences: As the use of automation continues to grow in the Serbian manufacturing sector, there is a rising demand for advanced industrial robotics solutions. This trend is driven by the need for increased efficiency, productivity, and cost reduction. Additionally, there is a growing preference for flexible and adaptable robotic systems that can easily be integrated into existing production lines. This shift towards automation is also influenced by the aging workforce and the need to mitigate labor shortages in the country.

Trends in the market: In Serbia, the Industrial robotics market is experiencing a surge in demand for collaborative robots, particularly in the automotive and electronics industries. This trend is driven by the need for more flexible and efficient production processes. Additionally, there is a growing interest in the use of artificial intelligence and machine learning in industrial robotics, as companies seek to optimize their operations and improve productivity. These developments are significant as they pave the way for the adoption of advanced technologies and automation in the manufacturing sector. As a result, industry stakeholders are likely to see increased investments and partnerships in this market, leading to further advancements and growth opportunities.

Local special circumstances: In Serbia, the Industrial robotics market is growing due to the country's strong manufacturing industry and government initiatives to attract foreign investment. However, the market faces challenges such as a lack of skilled labor and outdated infrastructure. Additionally, cultural and regulatory differences from other markets, such as a focus on traditional industries and strict labor laws, can impact market dynamics. Despite these challenges, the market has potential for growth as more companies look to automate their production processes and increase efficiency.

Underlying macroeconomic factors: The Industrial robotics Market within the Robotics Market is heavily influenced by macroeconomic factors such as technological advancements, global trade policies, and investment in industrial infrastructure. Countries with strong support for automation and advanced manufacturing, as well as favorable trade agreements, are experiencing faster market growth compared to regions with limited government policies and funding for industrial robotics. Additionally, the increasing demand for efficient and cost-effective production, coupled with the growing trend of Industry 4.0, is driving the adoption of industrial robotics 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.