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Commercial Service Robotics - Albania

Albania
  • Revenue in the Commercial Service Robotics market is projected to reach US$1.56m in 2024.
  • Medical service robotics dominates the market with a projected market volume of US$1.18m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.34%, resulting in a market volume of US$2.55m by 2029.
  • In global comparison, most revenue will be generated United States (US$4.99bn in 2024).

Definition:

The Commercial Service Robotics market presents the market size of service robotics in commercial use cases, e.g., medical robots, logistic robots, and agriculture robots.

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.

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 robots. 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 Agrobot.

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

In-Scope

  • Medical Service Robotics
  • Logistic Services Robotics
  • Agriculture Service Robotics
  • Other Service Robotics

Out-Of-Scope

  • Consumer Service Robotics
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Robotics: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Volume

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Price

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Commercial service robotics market in Albania is facing a negligible decline in growth rate due to factors such as slow adoption of digital technologies, low health awareness among consumers, and limited convenience offered by online services. However, the potential for growth remains high, especially in sub-markets such as Agriculture, Logistics, Medical, and Other service robotics. These sub-markets are expected to drive overall market growth in the coming years.

    Customer preferences:
    As the use of technology continues to rise in Albania, there is a growing demand for commercial service robotics in various industries. This trend is driven by the need for efficient and cost-effective solutions in areas such as healthcare, retail, and hospitality. Additionally, the adoption of service robotics is also influenced by the country's aging population and the desire for increased automation in businesses. As a result, there has been a significant increase in the use of service robots for tasks such as cleaning, delivery, and customer service, leading to a boost in the commercial service robotics market in Albania.

    Trends in the market:
    In Albania, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is experiencing a surge in demand for automation solutions in industries such as healthcare, retail, and logistics. This is driven by the need to increase efficiency and reduce costs. Additionally, there is a growing trend of integrating artificial intelligence and machine learning capabilities into service robots, making them more advanced and versatile. These trends are expected to continue and have significant implications for industry stakeholders, including increased competition and the need for upskilling and reskilling of the workforce.

    Local special circumstances:
    In Albania, the Commercial service robotics Market is still in its early stages due to the country's limited technological infrastructure. However, with its strategic location and growing economy, there is potential for growth in the market. The government's focus on promoting innovation and investment in the robotics industry has also contributed to the market's development. Additionally, the country's low labor costs and skilled workforce make it an attractive location for companies looking to manufacture and export service robotics products.

    Underlying macroeconomic factors:
    The growth of the Commercial service robotics market in Albania is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in the country's infrastructure. Countries with favorable regulatory environments and strong investment in service robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Furthermore, the increasing demand for automation and efficiency in various industries, coupled with the rising labor costs, are driving the adoption of service robotics in Albania. The country's growing economy and increasing focus on modernization and innovation also present significant opportunities for the service robotics market to flourish.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    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.

    Technology

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    Robotics: market data & analysis - BackgroundRobotics: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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    Industrial robots worldwide - statistics & facts

    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.
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