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:
Service Robotics is further split into:
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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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Company Insights
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights