Robotics - Iraq

Iraq

Revenue in the Robotics market is projected to reach US$25.59m in 2024.
Service robotics dominates the market with a projected market volume of US$24.73m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -4.55%, resulting in a market volume of US$20.27m by 2029.
In global comparison, most revenue will be generated in the United States (US$9,421.00m in 2024).

Key regions: United States, China, South Korea, Japan, Germany

Definition:

The Robotics market refers to the industry that encompasses the design, development, manufacturing, and deployment of robotic systems and technologies. It involves the creation of machines that perform tasks autonomously or with minimal human intervention. These machines, also known as robots, mimic human actions and/or perform specialized functions in various sectors. These sectors include manufacturing, healthcare, agriculture, logistics, defense, and entertainment.

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.

Structure:

The Robotics market shows the market size of robotics in industrial and service use cases. In Industrial Robotics, there are six distinct markets:

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

Service Robotics is further split into:

The Commercial Service Robotics market, which contains the Agriculture, Logistics, Medical and Other Service Robotics markets
The Consumer Service Robotics market, which contains the Domestic and Entertainment Robotics markets

Additional information:

Data includes revenues, volume, and the average price per newly installed robot. It also examines the level of automation, the share of collaborative robots, and investment in robotics, 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. Industrial Robotics does not include software revenues, as industrial robots are mostly used with specific software solutions that belong to the company that deploys them. For Service Robotics, software revenues are considered, as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Kuka, ABB, Boston Dynamics, and Yaskawa Electric Corporation.

For more information on the data displayed, use the info button right next to the box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Robotics Market in Iraq is experiencing minimal growth, influenced by factors such as limited adoption of technology, low health awareness among consumers, and the lack of convenience in accessing online services. This can be attributed to the underdeveloped industrial and service robotics sub-markets in the country.

Customer preferences: As the use of robotics continues to expand in various industries, consumers are increasingly prioritizing efficiency and convenience in their purchasing decisions. This has led to a growing demand for robotic solutions that can automate tasks and streamline processes, particularly in the manufacturing and healthcare sectors. Additionally, with the rise of remote work and telemedicine, there has been a shift towards using robotics for remote monitoring and assistance, highlighting a trend towards virtual and remote solutions in the robotics market.

Trends in the market: In Iraq, the Robotics Market is experiencing a surge in demand for unmanned aerial vehicles (UAVs) and drones, particularly in the military and security sectors. This trend is expected to continue as the country continues to face security challenges and looks to modernize its defense capabilities. The significance of this trend lies in its potential to enhance surveillance, intelligence gathering, and target acquisition capabilities for the military. It also presents opportunities for industry stakeholders, such as manufacturers and service providers, to capitalize on this growing market. However, there are also potential implications, such as concerns over privacy and safety, that must be addressed as UAVs become more prevalent in Iraq's airspace.

Local special circumstances: In Iraq, the Robotics Market is expected to experience rapid growth due to the country's increasing focus on automation and modernization of industries. The government's investment in infrastructure development and the rise of the oil and gas sector are major driving factors for the market. Additionally, the country's strategic location and its potential as a gateway to other Middle Eastern markets make it an attractive destination for robotics companies. However, the market faces challenges such as lack of skilled labor and limited adoption of advanced technologies, which can be attributed to the ongoing political and security issues in the region.

Underlying macroeconomic factors: The Robotics Market in Iraq is also affected by macroeconomic factors such as the country's economic stability, government policies, and investment in technology. Countries with stable economies and supportive policies for robotics industries are experiencing significant growth in the market. On the other hand, regions with economic challenges and limited investment in technology are facing slower market growth. Moreover, the rising demand for automation and efficiency in various industries, coupled with the increasing adoption of advanced technologies, such as AI and machine learning, are further driving the growth of the Robotics Market in Iraq.

Methodology

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.