Robotics - Oman

Oman

Revenue in the Robotics market is projected to reach US$10.93m in 2024.
Service robotics dominates the market with a projected market volume of US$10.27m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.34%, resulting in a market volume of US$11.68m 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 Oman is experiencing subdued decline, driven by factors such as limited adoption of digital technologies, lower awareness among consumers, and challenges faced by industrial and service sub-markets. These factors contribute to the market's slow growth rate.

Customer preferences: As the use of robotics continues to grow in Oman, there has been a noticeable trend towards more advanced and intelligent robotic solutions. This is driven by the country's focus on technology and innovation, as well as the increasing demand for automation in various industries. Additionally, the rising adoption of robotics is also influenced by the growing need for efficiency and cost-effectiveness in business operations. With the increasing use of robotics, there is a growing demand for skilled professionals in the field, leading to the development of specialized training programs and courses.

Trends in the market: In Oman, the Robotics Market is experiencing a surge in demand as the country continues to invest in automation and technology. This trend is expected to continue, with a focus on implementing robotics and artificial intelligence in various industries such as manufacturing, healthcare, and logistics. This not only improves efficiency and productivity but also reduces costs and minimizes human error. The implications of this trend are significant for industry stakeholders, as it opens up opportunities for growth and innovation. However, it also raises concerns about job displacement and the need for upskilling the workforce to adapt to these technological advancements.

Local special circumstances: In Oman, the Robotics market is experiencing a steady growth due to the country's strategic location and its strong focus on innovation and technology. The government has launched initiatives to promote the adoption of automation and robotics in various industries, such as manufacturing and logistics. Additionally, the country's favorable business environment and its investments in research and development have created a conducive market for robotics companies. Moreover, Oman's cultural emphasis on efficiency and precision has also contributed to the market's growth, as robotics solutions offer improved accuracy and productivity.

Underlying macroeconomic factors: The Robotics Market in Oman is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in robotics are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation in various industries and the growing need for advanced manufacturing processes are driving the adoption of robotics in Oman, as well as globally. This is further fueled by the rising labor costs and the need for increased efficiency and productivity in the face of global competition.

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.