Robotics - Malta

Malta

Revenue in the Robotics market is projected to reach US$5.46m in 2024.
Service robotics dominates the market with a projected market volume of US$4.75m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.94%, resulting in a market volume of US$6.31m 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.

For more information on the data displayed, use the info button right next to the box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Robotics Market in Malta has seen a minimal decline in its growth rate, influenced by factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience of online services. However, with the emergence of sub-markets like Industrial and Service robotics, there is potential for growth in the future.

Customer preferences: The Robotics Market in Malta has seen a rise in demand for advanced automation solutions, driven by the country's growing industrial sector. This trend is further fueled by the government's focus on promoting a digital economy, leading to an increasing adoption of robotics in manufacturing and logistics industries. Additionally, there is a growing emphasis on utilizing robots for tasks that involve repetitive and dangerous tasks, reducing human involvement and increasing efficiency.

Trends in the market: In Malta, the Robotics Market industry is experiencing a surge in the adoption of collaborative robots, also known as cobots, which are designed to work alongside humans. This trend is driven by the need for flexible and cost-effective automation solutions in various sectors, such as manufacturing, healthcare, and logistics. Additionally, there is a growing interest in the use of artificial intelligence and machine learning in robotics, enabling robots to perform more complex tasks and adapt to changing environments. As these trends continue to evolve, industry stakeholders can expect to see increased efficiency, productivity, and safety in their operations. However, there may also be potential challenges in terms of job displacement and the need for upskilling in the workforce.

Local special circumstances: In Malta, the Robotics Market is thriving due to the country's strategic location between Europe and Africa, making it a hub for global trade and investment. Additionally, Malta's strong commitment to innovation and technology, as demonstrated by its Smart Specialisation Strategy, has led to a supportive environment for the development and adoption of robotics. Moreover, Malta's small size and highly skilled workforce make it an ideal testbed for new robotic technologies, attracting international companies to establish a presence in the country. This unique combination of factors has contributed to the rapid growth of the Robotics Market in Malta, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Robotics Market in Malta is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's strong economic growth and stable political environment have attracted significant investments in the robotics industry. Additionally, Malta's strategic location and advanced infrastructure make it an ideal hub for technological advancements and innovation. As the demand for automation and artificial intelligence continues to rise globally, Malta's favorable business climate and skilled workforce are expected to further boost the growth of the Robotics Market in the country.

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.