Robotics - Peru

Peru

Revenue in the Robotics market is projected to reach US$28.46m in 2024.
Service robotics dominates the market with a projected market volume of US$24.55m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.77%, resulting in a market volume of US$41.38m 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.

Market

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Analyst Opinion

The Robotics market in Peru is facing a negligible decline in growth rate due to factors such as slow adoption of digital technologies, limited awareness among consumers, and lack of convenience in online services. This is particularly evident in the Industrial and Service sub-markets. However, with increasing government initiatives and investments towards technological advancements, there is potential for growth in the future.

Customer preferences: As technology continues to advance in Peru, there has been a noticeable increase in demand for robotics in various industries. This trend is driven by the country's growing economy, as well as the desire for more efficient and cost-effective solutions. Additionally, with the rise of automation, there is a growing demand for skilled workers in the robotics sector, leading to a shift in education towards STEM fields. This shift is also reflected in the increasing popularity of robotics and coding workshops for children and young adults.

Trends in the market: In Peru, the Robotics Market is experiencing a surge in demand for automation solutions in industries such as healthcare, manufacturing, and agriculture. This trend is driven by the need for increased efficiency, cost savings, and improved safety measures. The trajectory of this trend is expected to continue upwards as more businesses realize the benefits of incorporating robotics into their operations. This has significant implications for industry stakeholders such as robotics companies, manufacturers, and investors, who must keep pace with the evolving market and invest in cutting-edge technology to remain competitive. Additionally, the rise of robotics in Peru presents opportunities for job creation and economic growth.

Local special circumstances: In Peru, the Robotics Market is heavily influenced by the country's growing technology sector and strong government support for innovation. The market is also driven by the country's developing manufacturing industry and the need for automation solutions to increase efficiency and reduce labor costs. Additionally, Peru's unique geographical landscape, with its diverse terrain and climate, creates a demand for specialized robotics solutions in industries such as agriculture and mining. Furthermore, the country's cultural emphasis on education and its growing interest in STEM fields creates a favorable environment for the growth of the Robotics Market.

Underlying macroeconomic factors: The Robotics Market in Peru is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in the country's infrastructure. Countries with favorable regulatory environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in various industries, coupled with the country's growing economy and population, is driving the growth of the Robotics Market in Peru.

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.