Robotics - Portugal | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$134.00m in 2024.
Service robotics dominates the market with a projected market volume of US$80.67m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.63%, resulting in a market volume of US$202.60m 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.

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Industrial Robotics
Service Robotics

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

The Robotics market in Portugal is experiencing modest growth, primarily driven by factors such as increasing industrial automation and the rise of service robots in various industries. However, the growth rate remains negligible due to factors such as high initial costs and lack of skilled labor. Awareness and adoption of robotics technology are also impacting the market's growth rate.

Customer preferences: As technology continues to advance, consumers in the Robotics Market are increasingly looking for automated solutions to simplify their daily tasks and improve efficiency. This has led to a rise in demand for robotic devices, such as vacuum cleaners and lawn mowers, that can be controlled remotely through smartphone apps. Additionally, the trend towards smart homes and connected devices has also contributed to the growth of the robotics market in Portugal.

Trends in the market: In Portugal, the Robotics Market is experiencing a surge in demand for collaborative robots, also known as cobots, which can work alongside humans in industrial settings. This trend is significant as cobots offer increased efficiency and safety, and are more affordable than traditional industrial robots. Additionally, there is a growing focus on developing AI-powered robots for various industries, such as healthcare and agriculture. These advancements have potential implications for industry stakeholders, including increased productivity and cost savings, as well as potential job displacement and the need for upskilling the workforce to adapt to these new technologies.

Local special circumstances: In Portugal, the Robotics Market is experiencing growth due to the country's strong focus on innovation and technological development. The government has implemented initiatives to support the development of robotics, such as tax incentives and funding opportunities for startups. Additionally, Portugal's strategic location and well-established infrastructure make it an ideal location for companies to test and launch their robotics products. Furthermore, Portugal's culture of collaboration and openness to new ideas has fostered a thriving community of robotics researchers and entrepreneurs. These unique local factors have contributed to the growth and success of the Robotics Market in Portugal.

Underlying macroeconomic factors: The Robotics Market in Portugal is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in industrial infrastructure. Favorable policies and investments in research and development have led to a rapid growth of the robotics market in Portugal. Furthermore, the country's strong economic health and stable fiscal policies have created a conducive environment for businesses to thrive, leading to a significant increase in demand for robotics solutions across various industries. Additionally, the growing trend of automation and the need for efficient and cost-effective production processes are contributing to the expansion of the robotics market in Portugal.

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.