Robotics - Mauritius

Mauritius

Revenue in the Robotics market is projected to reach US$2.39m in 2024.
Service robotics dominates the market with a projected market volume of US$2.39m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -6.37%, resulting in a market volume of US$1.72m 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 Mauritius is experiencing minimal decline in growth rate due to factors such as limited adoption of digital technologies, low health awareness among consumers, and lack of convenience offered by online services. This is evident in both the industrial and service robotics sub-markets, which are struggling to gain traction in the country's market. However, with the potential for technological advancements and increased investment in the sector, there is potential for growth in the future.

Customer preferences: With the increasing adoption of automation and artificial intelligence in the Robotics Market industry, consumers are showing a growing preference for tech-driven solutions. This trend is driven by the need for efficiency and cost-effectiveness in businesses, as well as the desire for advanced and personalized products and services. Additionally, the rise of smart homes and connected devices has led to a demand for more integrated and automated solutions in the market.

Trends in the market: In Mauritius, the Robotics Market is experiencing a surge in demand for automation solutions in industries such as manufacturing, healthcare, and agriculture. This trend is driven by the need for increased efficiency and productivity, as well as the rising adoption of Industry 4.0 technologies. With the government's focus on promoting technology and innovation, the trajectory of this trend is expected to continue upwards. This presents significant opportunities for industry stakeholders to tap into a growing market and offer advanced robotics solutions. However, it also poses challenges in terms of upskilling the workforce and addressing concerns around job displacement. As such, collaboration between industry players and government initiatives will be crucial in navigating the implications of this trend.

Local special circumstances: In Mauritius, the Robotics Market is influenced by the country's small size and limited resources, leading to a focus on niche sectors such as agri-robotics and marine robotics. The government has also implemented policies to encourage the development and adoption of robotics technology, creating a favorable environment for market growth. Additionally, the country's strong ICT infrastructure and skilled workforce make it a prime location for robotics research and development. These factors, combined with Mauritius' strategic location in the Indian Ocean, make it an attractive market for international players looking to tap into Africa's emerging robotics market.

Underlying macroeconomic factors: The Robotics Market in Mauritius is strongly affected by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and significant investment in robotics technology are experiencing higher market growth compared to regions with regulatory challenges and limited funding. Moreover, the rising adoption of automation and artificial intelligence, coupled with the growing need for efficient and cost-effective solutions, is driving the demand for robotics in various industries. Additionally, the increasing focus on sustainability and the growing trend of Industry 4.0 are further propelling the growth of the Robotics Market in Mauritius.

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.