Service Robotics - Central Asia | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$49.41m in 2024.
Consumer service robotics dominates the market with a projected market volume of US$26.81m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.19%, resulting in a market volume of US$87.80m 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 Central Asia is facing a negligible decline in growth rate due to factors such as slow adoption of new technologies, limited awareness among consumers, and lack of infrastructure. However, with the growing need for automation in both commercial and consumer sectors, the market is expected to witness significant growth in the coming years.

Customer preferences: As Central Asia continues to modernize and urbanize, there is a growing demand for service robotics in various industries, including healthcare, retail, and hospitality. This is driven by the region's increasing reliance on technology and automation, as well as the need for efficient and cost-effective solutions. Moreover, the younger population in Central Asia is more open to embracing new technologies, making them a key target market for service robotics companies. Additionally, the rise of e-commerce and online shopping in the region has created a need for automated warehousing and logistics solutions, further driving the demand for service robotics in Central Asia.

Trends in the market: In Central Asia, the Service robotics Market within the Robotics Market is experiencing a surge in demand due to the increasing adoption of automation in various industries. This trend is expected to continue, with a focus on developing more advanced and versatile robots to cater to a wider range of tasks. This has significant implications for industry stakeholders, as it allows for increased efficiency and cost savings. Additionally, the use of AI and machine learning in service robotics is becoming more prevalent, enabling robots to learn and adapt to new environments and tasks. This further boosts the potential for growth and innovation in the Service robotics Market within the Robotics Market market.

Local special circumstances: In Central Asia, the Service robotics Market within the Robotics Market is influenced by the region's rapid economic growth and increasing adoption of advanced technologies. The market is also affected by cultural and regulatory factors, such as the preference for local manufacturers and government initiatives to promote domestic production. Additionally, the market is impacted by the region's unique geography, with rugged terrain and extreme weather conditions necessitating the use of specialized robotics solutions for industries such as mining and agriculture.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market is significantly impacted by macroeconomic factors such as technological advancements, government policies, and investment in automation infrastructure. Countries with favorable business environments and significant investments in automation technologies are witnessing rapid market growth compared to regions with regulatory challenges and limited funding for automation. Moreover, the growing demand for automation solutions in industries such as healthcare, manufacturing, and logistics is driving market growth, fueled by the need for increased efficiency and productivity.

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.