Service Robotics - Australia | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$619.30m in 2024.
Commercial service robotics dominates the market with a projected market volume of US$484.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.13%, resulting in a market volume of US$958.60m 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 Australia has seen moderate growth, influenced by factors such as increasing demand for automated services, technological advancements, and growing awareness of the benefits of using service robots. The market is expected to continue growing at a minimal rate, possibly due to factors such as high initial costs and concerns about job displacement.

Customer preferences: Consumers in Australia are increasingly looking for service robots to assist with household tasks, such as cleaning and cooking, as the aging population and busy lifestyles drive demand for convenience and efficiency. This trend is also reflected in the growing popularity of virtual assistants and smart home devices. Additionally, with the rise of e-commerce and delivery services, there is a growing demand for robots to handle last-mile delivery, especially in urban areas where traffic congestion is a major issue.

Trends in the market: In Australia, the Service robotics market is experiencing a surge in demand for automation and artificial intelligence solutions across various industries such as healthcare, manufacturing, and agriculture. This trend is driven by the need for increased efficiency, cost reduction, and improved productivity. Additionally, there is a growing focus on using service robots for tasks that are dangerous or labor-intensive for humans. This trend is expected to continue as advancements in technology and AI continue to make service robots more capable and cost-effective for businesses. Industry stakeholders can expect increased competition in the market, as well as potential disruptions to traditional job roles. However, the adoption of service robotics also presents opportunities for businesses to expand their offerings and improve their operations.

Local special circumstances: In Australia, the Service robotics market is driven by the country's strong focus on innovation and technology. The government's support for research and development in the robotics industry, coupled with a highly skilled workforce, has led to the rise of advanced robotic solutions for various industries, including healthcare and agriculture. Additionally, Australia's vast and diverse geography, with remote and isolated regions, has created a demand for robotics solutions for tasks such as mining and environmental monitoring.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market in Australia is greatly influenced by macroeconomic factors such as technological advancements, government initiatives, and investment in research and development. Australia has a strong economy and a stable political environment, which has encouraged the growth of the robotics industry. Additionally, the increasing demand for automation and the aging population are driving the adoption of service robots in various sectors, such as healthcare, hospitality, and manufacturing, to enhance efficiency and productivity. Furthermore, the government's focus on promoting innovation and supporting the development of emerging technologies is expected to further boost the growth of the service robotics market in Australia.

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.