Robotics - Luxembourg

Luxembourg

Revenue in the Robotics market is projected to reach US$83.21m in 2024.
Industrial robotics dominates the market with a projected market volume of US$66.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.14%, resulting in a market volume of US$101.90m 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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Analyst Opinion

The Robotics Market in Luxembourg is experiencing slow growth due to factors such as high costs, lack of skilled labor, and limited government support. However, the growing demand for automation in industries and increasing focus on improving healthcare services are expected to drive growth in the future.

Customer preferences: The demand for advanced robotics solutions is on the rise in Luxembourg, driven by the need for automation and efficiency in industries such as manufacturing and healthcare. Additionally, there is a growing trend towards incorporating AI and machine learning technologies in robotics, allowing for more advanced and intelligent systems. This shift towards advanced robotics is also fueled by the country's aging population and the need for cost-effective and reliable care solutions.

Trends in the market: In Luxembourg, the Robotics Market is experiencing a surge in the adoption of collaborative robots, also known as cobots. These robots are designed to work alongside humans, making them ideal for small and medium-sized enterprises. This trend is expected to continue as more companies recognize the benefits of cobots, such as increased efficiency and safety in the workplace. Additionally, there is a growing demand for robots in the healthcare sector, particularly for tasks such as disinfecting and delivering medical supplies. As a result, the Robotics Market is expected to witness significant growth in the coming years, with potential implications for industry stakeholders such as manufacturers, suppliers, and service providers.

Local special circumstances: In Luxembourg, the Robotics Market is thriving due to the country's advanced technological infrastructure and highly skilled workforce. The government's support for innovation and research also plays a significant role in driving the market forward. Additionally, the country's strategic location within Europe allows for easy access to other markets and fosters partnerships with international companies. Furthermore, the country's stable political and regulatory environment provides a favorable business climate for robotics companies.

Underlying macroeconomic factors: The growth of the Robotics Market market in Luxembourg is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. As a highly developed country with a stable economy and favorable business environment, Luxembourg has been able to attract significant investment in robotics and automation. Additionally, the country's aging population and increasing demand for efficiency and productivity in various industries have also contributed to the growth of the market.

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.