Robotics - Myanmar

Myanmar

Revenue in the Robotics market is projected to reach US$7.31m in 2024.
Service robotics dominates the market with a projected market volume of US$6.85m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.22%, resulting in a market volume of US$9.43m 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 Myanmar is experiencing slow growth, influenced by factors such as limited adoption of technology, low awareness of robotics in industries and services, and the lack of convenience in accessing robotics services. However, with the growing demand for automation and advancements in technology, the market is expected to witness a significant growth in the future.

Customer preferences: As robotics technology continues to advance in Myanmar, consumers are increasingly seeking smart and automated solutions to improve efficiency and productivity in their daily lives. This trend is driven by the growing desire for convenience and the need to adapt to a fast-paced lifestyle. With the rise of smart homes and the integration of AI, consumers are also looking for ways to simplify their household chores and tasks, leading to a rise in demand for home automation systems.

Trends in the market: In Myanmar, the Robotics Market is experiencing a surge in demand, with industries such as manufacturing, healthcare, and agriculture adopting robotic technology to increase efficiency and productivity. This trend is expected to continue as the country moves towards modernization and automation. The significance of this trend lies in its potential to revolutionize traditional industries and drive economic growth. However, it also raises concerns about job displacement and the need for upskilling the workforce. As such, industry stakeholders must carefully navigate the trajectory of this trend to ensure its successful integration and mitigate any potential negative implications.

Local special circumstances: In Myanmar, the Robotics Market is still in its early stages due to limited access to advanced technology and infrastructure. However, the country's growing economy and government initiatives to promote automation and innovation are driving the market's growth. Additionally, Myanmar's unique geographical location and cultural values, including a strong focus on community and traditional industries, may shape the adoption and development of robotics in the market. In contrast to other countries, regulatory barriers and challenges may also play a significant role in shaping the dynamics of the Robotics Market in Myanmar.

Underlying macroeconomic factors: The Robotics Market in Myanmar is greatly impacted by macroeconomic factors such as the country's economic growth, government policies, and global economic trends. The country's rapid economic development and increasing investments in infrastructure are driving the growth of the robotics market. Additionally, favorable government policies and initiatives to promote automation and modernization are also fueling market growth. However, challenges such as limited access to capital and skilled labor, as well as political instability, could hinder the market's growth potential. Furthermore, the rising demand for automation and efficiency in various industries, coupled with the increasing adoption of advanced technologies, is expected to drive the growth of the Robotics Market in Myanmar.

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.