Service Robotics - Albania | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$3.03m in 2024.
Commercial service robotics dominates the market with a projected market volume of US$1.56m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.71%, resulting in a market volume of US$5.04m by 2029.
In global comparison, most revenue will be generated United States (US$8.68bn in 2024).

Definition:

The Service Robotics market presents the market size of robotics in service use cases, e.g., commercial service robots or consumer service robots. Service robots are intended for personal or professional use and are designed to assist humans in carrying out certain tasks.

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 Commercial Service Robotics and Consumer Service Robotics markets can be found within the Service Robotics market. The Commercial Robotics market is further split into a range of service industries that have the highest adoption of robots. This includes agriculture service robotics, logistics service robotics, medical service robotics, and all other service industries, which are all covered by the Other Industry Robotics market.

Additional information:

The market comprises revenues, volume, and the average price per new installed robot. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robot. It is shown in manufacturer prices. Software revenues are included as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Intuitive Surgical, ABB, and iRobot.

For more information on the data displayed, use the info button right next to the box.

Commercial Service Robotics
Consumer Service Robotics

robots used in industrial use cases

The Service Robotics market in Albania is facing a negligible decline in growth rate, influenced by factors such as slow adoption of digital technologies, lack of health awareness among consumers, and limited availability of online services. This trend is seen in both the Commercial and Consumer sub-markets.

Customer preferences: With the increasing need for contactless services and social distancing measures, the demand for service robots in Albania is on the rise. Consumers are embracing the use of robots for tasks such as food and grocery delivery, cleaning and disinfection, and customer service. This trend is driven by a growing preference for convenience, efficiency, and safety. Additionally, the aging population in Albania is also contributing to the demand for service robots, as they can provide assistance with daily tasks and improve the quality of life for older individuals.

Trends in the market: In Albania, the Service robotics Market is experiencing a surge in demand for robotic solutions in industries such as healthcare, agriculture, and manufacturing. This trend is driven by the need for increased efficiency and productivity, as well as a growing aging population. As a result, there is a rise in the adoption of robotic technology in these sectors, with a focus on automation and human-robot collaboration. This trend is expected to continue, with the potential for further growth in the market as more industries recognize the benefits of using service robots. This presents opportunities for industry stakeholders to innovate and develop new solutions to meet the evolving needs of the market.

Local special circumstances: In Albania, the Service robotics Market within the Robotics Market is influenced by the country's small but growing economy, which has led to a demand for cost-effective and efficient solutions. Additionally, Albania's geographical location on the Adriatic coast makes it a strategic hub for trade and logistics, creating opportunities for service robotics in the transportation and logistics sectors. The country's regulatory environment, which is gradually aligning with EU standards, also presents opportunities for service robotics in industries such as healthcare and agriculture.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market in Albania is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable economic conditions and strong investment in robotics technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Furthermore, the rising demand for automation and efficiency in various industries, coupled with the need for cost savings, is driving the demand for service robotics in Albania.

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.