Robotics - MENA

MENA

Revenue in the Robotics market is projected to reach US$1.63bn in 2024.
Service robotics dominates the market with a projected market volume of US$1.34bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.74%, resulting in a market volume of US$2.84bn 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.

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Analyst Opinion

The Robotics Market in MENA is experiencing a minimal decline in growth rate, influenced by factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience offered by online services. However, the sub-markets of Industrial and Service robotics may have different growth rates due to varying demand and technological advancements.

Customer preferences: The MENA region has seen a rise in demand for advanced robotics solutions, driven by the need for efficient and cost-effective automation in industries such as manufacturing, healthcare, and logistics. This trend is fueled by the region's growing population and increasing adoption of technology in business operations. Moreover, as the region continues to invest in developing its infrastructure, robotics is expected to play a crucial role in streamlining processes and enhancing productivity. This shift towards automation is also driven by the cultural emphasis on efficiency and innovation in business practices.

Trends in the market: In the MENA region, there is a growing trend towards the adoption of robotics in various industries such as manufacturing, healthcare, and education. This is driven by the increasing demand for automation and efficiency, as well as the advancements in artificial intelligence and machine learning. The trajectory of this trend is expected to continue on an upward trajectory, with more companies investing in robotics technology and incorporating it into their operations. This trend holds significant potential for industry stakeholders, as it can lead to increased productivity, cost savings, and improved quality control. However, it may also have implications for the workforce, as some jobs may be replaced by robots. To stay competitive, companies will need to adapt to this trend and invest in upskilling their employees to work alongside robots.

Local special circumstances: In the MENA region, the Robotics Market is expected to experience significant growth due to the increasing government investments in automation and industrialization. The region's unique geographical location, with close proximity to Asia, Europe, and Africa, provides a strategic advantage for businesses looking to expand their operations. Additionally, cultural factors such as the high demand for advanced technology and the region's young and tech-savvy population are driving the adoption of robotics in various industries. Furthermore, favorable government policies and initiatives to promote innovation and entrepreneurship are creating a conducive environment for the growth of the Robotics Market in MENA.

Underlying macroeconomic factors: The Robotics Market in MENA is heavily impacted by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with strong economies and favorable regulatory environments are experiencing significant market growth, while those with economic challenges and limited funding are facing slower growth. Additionally, the rising demand for automation in various industries, coupled with the growing aging population, is driving the adoption of robotics in the region. This trend is expected to continue as MENA countries prioritize modernizing their industries and increasing efficiency.

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.