Robotics - Montenegro

Montenegro

Revenue in the Robotics market is projected to reach US$1.72m in 2025.
Service robotics dominates the market with a projected market volume of US$1.72m in 2025.
Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 9.25%, resulting in a market volume of US$2.45m by 2029.
In global comparison, most revenue will be generated in the United States (US$10,450.00m in 2025).

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

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Analyst Opinion

The Robotics market in Montenegro is experiencing minimal growth, influenced by factors such as limited adoption of digital technologies, low awareness of health benefits, and lack of convenience in online services. Despite the potential for growth, the sub-markets of Industrial and Service robotics face challenges in gaining traction in the country.

Customer preferences: As technology continues to advance, consumers in Montenegro are becoming more interested in automation and efficiency in their daily lives. This has translated into a growing demand for robotic solutions in various industries, such as manufacturing, healthcare, and agriculture. With an aging population and a shortage of skilled labor, there is a growing need for robots to perform tasks that are physically demanding or require specialized expertise. Furthermore, the rise of smart homes and the Internet of Things has also contributed to the popularity of robotics, as consumers seek to integrate these devices into their homes for increased convenience and control.

Trends in the market: In Montenegro, the robotics market is experiencing a surge in demand for automated machines and artificial intelligence solutions across various industries. This trend is expected to continue as companies seek to increase efficiency and reduce costs. Additionally, there is a growing focus on developing and implementing smart factories and using robotics for tasks such as logistics, packaging, and assembly. These advancements are significant for industry stakeholders as they can improve productivity, reduce errors, and create new job opportunities. However, there may also be potential implications for existing jobs and the need for upskilling or reskilling of the workforce to adapt to this technology-driven market.

Local special circumstances: In Montenegro, the Robotics Market is primarily driven by the country's focus on technological innovation and its growing economy. The government has implemented policies to encourage the adoption of robotics in various industries, such as manufacturing and healthcare. Additionally, the country's small size and close-knit community allow for easier collaboration between businesses and research institutions, leading to the development of cutting-edge robotics solutions. This unique environment has positioned Montenegro as a potential leader in the robotics market in the Balkans region.

Underlying macroeconomic factors: The Robotics Market in Montenegro is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with strong government support and favorable regulatory environments are experiencing faster market growth compared to regions with limited government funding and regulatory challenges. Additionally, the increasing demand for automation and the rise of Industry 4.0 are driving the growth of the Robotics Market in Montenegro, as these technologies improve efficiency, productivity, and cost-effectiveness in various industries.

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.