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Key regions: United States, China, South Korea, Japan, Germany
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
in billion USD (US$)
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
Most recent update: Mar 2024
Source: Statista Market Insights
in percent
Most recent update: Dec 2024
Source: Statista Market Insights
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
The Robotics market in Nordics is facing a negligible decline in growth rate, influenced by factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited availability of online services. This trend is seen across both Industrial and Service sub-markets, hindering overall market growth.
Customer preferences: The Nordic and Robotics market is seeing a growing trend towards automation and digitalization of various industries. This is driven by the need for efficiency, cost reduction, and increased productivity. As a result, there is a rising demand for advanced robotics and automation technologies, particularly in sectors such as manufacturing, logistics, and healthcare. This trend is also fueled by the region's strong focus on sustainability and environmental concerns, as robotics and automation can help reduce carbon footprint and energy usage. Additionally, the aging population in the Nordics is leading to a greater need for assistive and medical robots for elderly care, creating a new market segment for robotics companies to tap into.
Trends in the market: In the Nordics, the Robotics Market is experiencing a surge in the adoption of collaborative robots, also known as cobots. These robots are designed to work alongside humans, increasing efficiency and safety in production processes. Additionally, there is a growing trend towards the use of artificial intelligence and machine learning in robotics, enabling robots to adapt and learn from their environment. This trend is significant as it allows for more advanced and versatile robots, with potential implications for increased productivity and cost savings for businesses utilizing robotics. Furthermore, this trend may also lead to a shift in the labor market, with potential job displacement for workers in industries that heavily rely on manual labor.
Local special circumstances: In the Nordics, the Robotics Market is thriving due to the region's strong focus on innovation and technology. The high level of digitalization and advanced infrastructure in the region has created a favorable environment for the growth of the robotics industry. Additionally, the Nordic countries have a strong culture of sustainability and environmental awareness, leading to a rising demand for robots in industries such as agriculture and manufacturing. The region's strict regulations on labor and safety also drive the adoption of robots in various sectors, boosting the growth of the market.
Underlying macroeconomic factors: The Nordic and Robotics Market is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in research and development. Countries with strong economies and a focus on innovation, such as Sweden and Denmark, have seen significant growth in the robotics market. Additionally, global trends such as automation and the increasing demand for advanced robotics solutions in industries such as healthcare and manufacturing are driving the growth of the market in the Nordics. The region's stable economic health and supportive policies for research and development also contribute to the market's growth.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Aug 2024
Source: Statista Market Insights
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.The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.
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Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)