Robotics - Malaysia

Malaysia

Revenue in the Robotics market is projected to reach US$207.10m in 2024.
Service robotics dominates the market with a projected market volume of US$136.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.69%, resulting in a market volume of US$359.90m 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 Malaysia has been facing a negligible decline in growth rate, influenced by factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience in online services. However, the sub-markets of Industrial and Service robotics have shown potential for growth in the near future.

Customer preferences: There has been a growing interest in automation and efficiency in the Malaysian market, leading to a rise in demand for robotics solutions. This trend is fueled by a growing tech-savvy population, advancements in AI and machine learning, and the need for cost-effective and precise production processes. Additionally, there is a greater emphasis on sustainability and reducing labor costs, making robotics an attractive option for businesses.

Trends in the market: In Malaysia, the Robotics Market is experiencing a surge in the adoption of collaborative robots (cobots) in industries such as automotive and electronics. This trend is driven by the need for automation and increased efficiency. Furthermore, the government's initiatives to promote digital transformation and Industry 4.0 have also contributed to the growth of the robotics market. As a result, there is a significant demand for advanced robotics solutions and technologies, such as artificial intelligence and machine learning, to enhance productivity and reduce costs. This trend is expected to continue in the coming years, presenting opportunities for industry stakeholders to expand their offerings and cater to the evolving needs of the market. Additionally, it is likely to drive the development of innovative robotic solutions and strengthen Malaysia's position as a key player in the global robotics market.

Local special circumstances: In Malaysia, the Robotics Market is experiencing rapid growth due to the country's strong manufacturing industry and government support for automation and innovation. The country's location in Southeast Asia also provides a strategic advantage for companies looking to expand into other Asian markets. Additionally, Malaysia's diverse cultural landscape has influenced the development of robotics technology, with a focus on creating solutions that cater to the needs of different ethnic groups. The country's regulatory environment, which encourages foreign investment and offers tax incentives, has also played a significant role in driving the growth of the Robotics Market.

Underlying macroeconomic factors: The Robotics Market in Malaysia is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. With the country's strong focus on becoming a high-income and technology-driven nation, there is a significant push towards automation and robotics in various industries. Additionally, Malaysia's stable economic growth, favorable business environment, and skilled workforce are attracting foreign investment, further driving the growth of the Robotics Market. However, the market may face challenges due to the increasing competition from other countries and potential regulatory hurdles.

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.