Robotics - Malawi | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$2.18m in 2024.
Service robotics dominates the market with a projected market volume of US$2.18m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.20%, resulting in a market volume of US$2.44m 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.

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Industrial Robotics
Service Robotics

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

The Robotics market in Malawi is experiencing slow growth due to factors such as limited adoption of digital technologies, low health awareness among consumers, and lack of convenience in accessing online services. This is reflected in the subdued growth rate of the overall market. However, the sub-markets of Industrial and Service robotics may see faster growth as industries and businesses in Malawi increasingly embrace automation and the need for efficient and cost-effective solutions.

Customer preferences: In Malawi, there has been a growing interest in utilizing robotics in agriculture, with farmers turning to automated solutions for planting, irrigation, and harvesting. This trend is driven by the need for increased efficiency and productivity in the face of limited resources and labor shortages. Additionally, the use of robotics is seen as a way to reduce the physical strain on farmers, particularly women and children who make up a significant portion of the agricultural workforce. This shift towards automation also aligns with the country's push towards modernization and technological advancement.

Trends in the market: In Malawi, the Robotics Market is seeing a surge in demand for automation solutions across various industries, such as manufacturing, agriculture, and healthcare. This is driven by the government's push for modernization and the need for increased efficiency and productivity. With the rise of Industry 4.0, there is a growing trend towards collaborative robots and advanced technologies like artificial intelligence and machine learning. These trends are significant as they offer opportunities for cost savings, improved quality, and increased competitiveness. However, they also pose challenges for industry stakeholders, as they require upskilling and retraining of the workforce and may lead to job displacement.

Local special circumstances: In Malawi, the Robotics Market is still in its early stages of development, with limited adoption due to low levels of technological infrastructure and skilled labor. However, the government has recognized the potential of robotics in driving economic growth and is actively promoting initiatives to foster the growth of the market. Additionally, cultural perceptions of technology as a threat to traditional jobs and social norms may also impact the acceptance and use of robotics in the country.

Underlying macroeconomic factors: The Robotics Market in Malawi is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with limited regulations and funding. Additionally, the increasing demand for automation and efficiency in various industries, as well as the growing need for advanced healthcare solutions, are driving the demand for robotics in Malawi. The country's improving economic health and stable fiscal policies also contribute to the growth of the Robotics Market, creating a favorable environment for investment and business expansion.

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.