Robotics - Israel

Israel

Revenue in the Robotics market is projected to reach US$117.80m in 2024.
Service robotics dominates the market with a projected market volume of US$94.72m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.27%, resulting in a market volume of US$145.20m 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 Israel is experiencing steady growth, driven by increasing adoption of advanced technologies, rising demand for automation, and the convenience offered by robotic services. However, the market's growth rate is hindered by factors such as high initial costs and limited government support for research and development.

Customer preferences: As the use of robots in various industries continues to rise, there is a growing demand for more advanced and sophisticated robotic technology in Israel. This trend is driven by the country's highly tech-savvy population and its strong focus on innovation and efficiency. Additionally, there is an increasing preference for automation and remote control capabilities in the robotics market, as companies look for ways to reduce costs and improve productivity. This has led to a shift towards more autonomous and intelligent robots, with features such as artificial intelligence and machine learning becoming increasingly important.

Trends in the market: In Israel, the Robotics Market is experiencing a surge in the adoption of autonomous robots for industrial and commercial applications. This trend is driven by the country's strong technological innovation and investment in R&D, resulting in advanced robotic solutions. Additionally, there is a growing demand for collaborative robots that can work alongside humans in various industries, such as manufacturing and healthcare. These developments have significant implications for industry stakeholders, as they can increase efficiency, safety, and cost-effectiveness. Furthermore, the rising use of robots in agriculture and logistics is expected to further drive the growth of the robotics market in Israel.

Local special circumstances: In Israel, the Robotics Market is thriving due to the country's highly skilled workforce and strong government support for technological innovation. With a high concentration of startups and a culture of entrepreneurship, Israel has become a hub for robotics research and development. Additionally, the country's military experience has led to advancements in unmanned systems and autonomous technology. These unique factors have contributed to the rapid growth and success of the Robotics Market in Israel.

Underlying macroeconomic factors: The Robotics Market in Israel is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Israel has a strong economy and is known for its advanced technology sector, creating a favorable environment for the growth of the Robotics Market. Additionally, the country has a strong focus on innovation and entrepreneurship, leading to a high demand for robotics solutions in various industries. Furthermore, the growing demand for automation and the need for cost-effective solutions in the manufacturing sector are also driving the growth of the Robotics Market in Israel.

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.