Commercial Service Robotics - APAC

Revenue in the Commercial Service Robotics market is projected to reach US$3.79bn in 2024.
Medical service robotics dominates the market with a projected market volume of US$2.21bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.74%, resulting in a market volume of US$5.26bn 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.

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

Consumer Service Robotics

The Commercial service robotics market in APAC is experiencing sluggish growth, influenced by factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited convenience of online services. The Agriculture, Logistics, Medical, and Other Service Robotics sub-markets are also contributing to the market's minimal growth rate.

Customer preferences: With the rise of e-commerce and online shopping, there has been a growing demand for automated solutions in the commercial service robotics market. This trend is particularly evident in the APAC region, where consumers are increasingly relying on robotics technology for efficient and contactless delivery services. Additionally, the increasing adoption of smart home devices and digital assistants is further fueling the demand for service robots in the region. These trends reflect a shift towards convenience and technology-driven solutions in the commercial sector.

Trends in the market: In APAC, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is experiencing a trend towards the integration of artificial intelligence and machine learning technologies. This is leading to the development of more advanced and efficient service robots with capabilities such as natural language processing and object recognition. This trend is significant as it allows for greater customization and personalization of services, leading to improved customer satisfaction. However, it also presents challenges for industry stakeholders in terms of the need for specialized skills and potential job displacement for human workers.

Local special circumstances: In the APAC region, the Commercial Service Robotics Market is driven by the increasing adoption of automation and robotics in various industries, such as manufacturing, logistics, and healthcare. In China, the market is experiencing rapid growth due to the government's push for industrial automation and the growing demand for labor-saving solutions. In Japan, the market is driven by the aging population and the need for assistive robots in eldercare. In Australia, the market is influenced by the strict safety regulations, leading to the development of advanced safety features in service robots.

Underlying macroeconomic factors: The growth of the Commercial service robotics market is also influenced by macroeconomic factors such as technological advancements, government support, and investment in industrial infrastructure. Countries with favorable business environments and strong investment in automation technologies are experiencing rapid market growth compared to regions with regulatory challenges and limited industrial funding. Additionally, the increasing demand for efficient and cost-effective solutions in various industries, such as manufacturing, logistics, and healthcare, is driving the adoption of service robotics.

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.