Robotics - Jordan

Jordan

Revenue in the Robotics market is projected to reach US$17.64m in 2024.
Service robotics dominates the market with a projected market volume of US$9.72m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 26.73%, resulting in a market volume of US$57.67m 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.

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Market

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Analyst Opinion

The Robotics Market in Jordan is experiencing rapid growth, driven by factors such as increasing adoption of automation technologies, growing demand for efficient and cost-effective solutions, and government initiatives to promote innovation and technology. This elevated growth rate can also be attributed to the rising need for advanced robotics in industries such as manufacturing and healthcare.

Customer preferences: As technology continues to advance in Jordan, consumers are increasingly embracing robotics for various applications, such as industrial automation, healthcare, and education. This trend is driven by a growing demand for efficiency, accuracy, and cost-effectiveness. Additionally, the rise in automation is also influenced by a growing young population and a push towards modernization and technological advancements in the country. This has led to an increased adoption of robotics across various industries, resulting in a thriving market for robotics in Jordan.

Trends in the market: In Jordan, the Robotics Market is experiencing a surge in demand for automation and artificial intelligence (AI) solutions. This trend is driven by the need to increase productivity, improve efficiency, and reduce costs in various industries, including manufacturing, healthcare, and transportation. The trajectory of this trend is expected to continue as businesses seek to stay competitive in a rapidly evolving market. For industry stakeholders, this presents an opportunity to capitalize on the growing demand for robotics and AI technologies. However, it also poses challenges, such as ensuring proper training and education for a workforce that can effectively utilize these advanced technologies. As the Robotics Market continues to expand, it is crucial for stakeholders to adapt and embrace these emerging trends to stay ahead of the curve and remain relevant in the industry.

Local special circumstances: In Jordan, the Robotics Market has been steadily growing due to the country's strategic location in the Middle East, making it a hub for trade and commerce. Additionally, the government has been actively promoting the use of robotics in various industries, such as manufacturing and healthcare, to boost efficiency and productivity. The country's strong emphasis on education and technology has also led to a skilled workforce, making it an attractive market for robotics companies. However, limited access to funding and cultural barriers may pose challenges for foreign companies entering the market.

Underlying macroeconomic factors: The Robotics Market in Jordan is primarily influenced by macroeconomic factors such as technological advancements, government initiatives, and investment in infrastructure. As a developing country, Jordan has been investing heavily in the development of its technology sector, particularly in the field of robotics. This has led to the growth of the market as more companies are adopting advanced robotics solutions for their operations. Additionally, the government's efforts to promote innovation and entrepreneurship have also contributed to the growth of the market. Furthermore, the increasing demand for automation in industries such as manufacturing, healthcare, and logistics has also been a key driver for the growth of the Robotics Market in Jordan.

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.