Service Robotics - Brunei Darussalam

Brunei Darussalam

Revenue in the Service Robotics market is projected to reach US$2.15m in 2024.
Consumer service robotics dominates the market with a projected market volume of US$1.14m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.44%, resulting in a market volume of US$2.76m by 2028.
In global comparison, most revenue will be generated in the United States (US$9,067.00m in 2024).

Key regions: France, United Kingdom, United States, Canada, South Korea

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Analyst Opinion

The Service robotics market in Brunei Darussalam is facing a slight decline in growth rate due to factors such as limited government funding and slow adoption of technology in the healthcare sector. However, the market is expected to pick up in the future with the growing demand for robotic solutions in both commercial and consumer segments. Factors such as increasing healthcare awareness and the convenience of online services are expected to drive market growth.

Customer preferences: With the rise of smart homes and the growing awareness of environmental sustainability, there has been a notable increase in demand for service robots that can help with household tasks and reduce energy consumption. This trend is particularly evident in Brunei Darussalam, where consumers place a strong emphasis on reducing their carbon footprint and embracing technology to improve their quality of life. As a result, service robots with energy-saving features and advanced capabilities, such as voice and gesture control, are gaining popularity in the market. This shift towards eco-friendly and tech-savvy solutions is expected to continue driving the growth of the service robotics market in Brunei Darussalam.

Trends in the market: In Brunei Darussalam, the Service robotics market is experiencing a growing demand for automated solutions in the healthcare sector. Robots are being used for tasks such as medication delivery, patient care, and even surgical procedures. This trend is expected to continue as the country aims to improve its healthcare infrastructure and meet the increasing demands for quality care. With the rise of an aging population and the need for social distancing measures, the significance of service robotics in healthcare is becoming more evident. This could potentially lead to increased investment in the industry, creating opportunities for stakeholders in the market.

Local special circumstances: In Brunei Darussalam, the Service robotics Market within the Robotics Market is driven by the country's focus on economic diversification and sustainable growth. The government's initiatives to promote automation and technology adoption have created a favorable environment for the development of service robotics. Additionally, the country's small population and high per capita income make it an ideal test market for innovative service robots, making it a hub for research and development in this sector. Furthermore, the country's strong Islamic culture influences the market, with a growing demand for Halal-certified service robots in various industries.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market in Brunei Darussalam is also impacted 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 limited resources and funding. Additionally, the increasing demand for automation in various industries and the growing aging population are driving the demand for service robotics solutions to improve efficiency and productivity.

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.