Robotics - Romania

Romania

Revenue in the Robotics market is projected to reach US$111.80m in 2024.
Service robotics dominates the market with a projected market volume of US$61.43m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.32%, resulting in a market volume of US$166.70m 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

Region

Region comparison

Currency

Analyst Opinion

The Robotics market in Romania has seen a stagnant growth rate, influenced by factors such as slow adoption of digital technologies, low awareness among consumers, and limited convenience of online services. The sub-markets of Industrial and Service robotics have also been impacted by these factors.

Customer preferences: In recent years, there has been a growing interest in AI-powered robotic solutions in Romania. This can be attributed to the country's increasing adoption of automation and advanced technologies across various industries. Additionally, there has been a significant shift towards more personalized and efficient robotic solutions, leading to a rise in demand for customizable robots. This trend is driven by the country's growing tech-savvy population and their preference for innovative and cutting-edge products.

Trends in the market: In Romania, the Robotics Market is experiencing a rise in the adoption of collaborative robots (cobots) in industries such as manufacturing and healthcare. This trend is driven by the need for more efficient and flexible automation solutions. Additionally, there is a growing focus on integrating artificial intelligence and machine learning capabilities into robotics, allowing for more advanced and autonomous operations. These developments have significant implications for stakeholders as they strive to stay competitive and keep up with technological advancements. It also presents opportunities for collaboration between robotics companies and industries looking to improve productivity and reduce costs.

Local special circumstances: In Romania, the Robotics Market is thriving due to the country's strong manufacturing industry and government support for automation technology. The market is also driven by the increasing adoption of robotics in the agriculture and healthcare sectors. Additionally, Romania's strategic location and highly skilled workforce make it an attractive destination for companies looking to outsource their robotics manufacturing. However, the market is facing challenges due to the lack of awareness and understanding of robotics technology among small and medium-sized businesses, as well as regulatory hurdles in implementing advanced robotics systems.

Underlying macroeconomic factors: The Robotics Market in Romania is heavily impacted by macroeconomic factors, particularly the country's economic health and fiscal policies. With a growing economy and stable government, Romania offers a favorable environment for businesses to thrive. Furthermore, the country's investment in advanced technologies and infrastructure development has contributed to the growth of the robotics market. Additionally, Romania's strategic location and membership in the European Union provide access to a large market and favorable trade policies, further boosting the growth of the robotics industry. However, challenges such as limited funding and a shortage of skilled labor may hinder market growth in the country.

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.