Robotics - Laos | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$2.92m in 2024.
Service robotics dominates the market with a projected market volume of US$2.92m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -7.47%, resulting in a market volume of US$1.98m by 2029.
In global comparison, most revenue will be generated United States (US$9.42bn in 2024).

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.

Industrial Robotics
Service Robotics

robots not programmable in two or more axes
robots with no degree of autonomy

The robotics market in Laos is witnessing moderate growth, with factors such as increasing government investments, growing industrial automation, and rising demand for advanced technology driving this trend. However, the market's growth rate is affected by factors such as limited technological infrastructure and high initial costs. Despite this, the market is expected to continue growing in the coming years, driven by advancements in artificial intelligence and the increasing adoption of robotics in various industries.

Customer preferences: In recent years, there has been a growing interest in robotic technology in Laos. This can be attributed to the country's increasing focus on modernization and technological advancement. As a result, there has been a rise in demand for consumer robots, particularly in the healthcare sector. The aging population and shortage of healthcare workers have also contributed to this trend. Additionally, the use of robotics in industries such as manufacturing and agriculture has gained traction, reflecting the country's shift towards automation and efficiency.

Trends in the market: In Laos, the Robotics Market is seeing a rise in automation and artificial intelligence technologies, with more companies incorporating these advanced systems into their operations. This trend is expected to continue as the country shifts towards industrialization and seeks to improve efficiency and productivity. This has significant implications for industry stakeholders, as it presents opportunities for cost savings and increased competitiveness. However, it also raises concerns about potential job displacement and the need for upskilling the workforce to adapt to these changes.

Local special circumstances: In Laos, the Robotics Market is still in its early stages of development due to the country's limited technological infrastructure. However, the government has recently launched initiatives to promote the adoption of robotics in various industries, such as manufacturing and agriculture. Additionally, the country's low labor costs and growing emphasis on economic diversification are expected to drive the demand for robotics. Furthermore, Laos' strategic location in Southeast Asia makes it an attractive market for robotics companies looking to expand their presence in the region.

Underlying macroeconomic factors: The Robotics Market in Laos is significantly impacted by macroeconomic factors such as technological advancements, government support, and investment in infrastructure development. Countries with favorable regulatory environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Moreover, the increasing demand for automation in industries such as manufacturing, healthcare, and logistics due to the rising labor costs and the need for efficiency is also driving the market growth. Additionally, the growing adoption of Industry 4.0 and the increasing need for advanced technologies to improve productivity and competitiveness are further propelling the demand for robotics in Laos.

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.