Robotics - Philippines | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$67.14m in 2024.
Service robotics dominates the market with a projected market volume of US$58.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 26.42%, resulting in a market volume of US$216.80m by 2029.
In global comparison, most revenue will be generated United States (US$9.42bn in 2024).

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.

Industrial Robotics
Service Robotics

robots not programmable in two or more axes
robots with no degree of autonomy

The Robotics Market in Philippines has been experiencing moderate growth, with factors such as increasing demand for automation in industries and growing adoption of service robots driving the market. However, the minimal decline in growth rate can be attributed to economic uncertainties and high initial costs associated with robotics technology.

Customer preferences: The rise of automation and artificial intelligence has led to an increased demand for robotics in the Philippines. With the growing focus on efficiency and productivity, businesses are turning to robotics to streamline operations and reduce costs. Additionally, the aging population in the country has also sparked interest in robotics for elderly care and assistance. This trend is further reinforced by the cultural value of caring for one's elders and the need for technology to support this responsibility.

Trends in the market: In the Philippines, the Robotics Market is experiencing a surge in demand for automated solutions, driven by the increasing need for efficiency and cost savings in industries such as manufacturing and logistics. This trend is expected to continue as the country invests in developing a skilled workforce for the robotics industry. Furthermore, the rise of e-commerce and the need for contactless operations have also fueled the adoption of robotics in various sectors. These developments have significant implications for stakeholders, as they need to adapt to the changing landscape and invest in technologies to remain competitive in the market.

Local special circumstances: In the Philippines, the Robotics Market is experiencing significant growth due to the country's strategic location in Southeast Asia and its strong manufacturing sector. The government has also been actively promoting the adoption of automation and robotics in various industries through initiatives such as the Philippine Robotics and Automation Society. Additionally, the country's cultural emphasis on technology and innovation has spurred the development of a vibrant startup scene, with several local companies specializing in robotics and automation solutions. These unique factors have contributed to the dynamic growth of the Robotics Market in the Philippines.

Underlying macroeconomic factors: The growth of the Robotics Market in the Philippines is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. The country's favorable regulatory environment and strong investments in robotics technology have led to a rapid growth in the market. Moreover, with an aging population and increasing demand for automation across industries, the Philippines is expected to witness a surge in demand for robotics solutions to improve productivity and efficiency. Additionally, the country's robust economic growth and stable fiscal policies have further boosted the growth of the robotics market in the Philippines.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Despite the frightening, almost Terminator-esque, way the phrase “there are robots everywhere” might sound, the increased use of robotics has been a boon to both consumers and enterprises worldwide. The industrial robot market has seen steady growth across the globe and is expected to continue growing as automation becomes ever more vital to businesses. This stems largely from mechanical automation, reducing production costs and improving efficiency. This increased demand due to greater automation, especially in the United States and Europe, is likely to mean that the price increase per robot unit will remain modest.