Commercial Service Robotics - Belgium

Revenue in the Commercial Service Robotics market is projected to reach US$1.10bn in 2024.
Medical service robotics dominates the market with a projected market volume of US$984.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.09%, resulting in a market volume of US$2.41bn 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 Belgium is witnessing significant growth, driven by factors such as increasing demand for automation in various industries, rising awareness of the benefits of service robots, and the convenience they offer in performing tasks. Despite an average growth rate, the market is expected to continue growing due to the advancements in technology and the increasing need for efficient and cost-effective solutions in industries such as agriculture, logistics, and healthcare.

Customer preferences: As the demand for efficiency and automation in the service sector grows, Belgium has seen a rise in the adoption of commercial service robotics. This trend is driven by the need for cost-effective and time-efficient solutions, as well as a shift towards contactless services due to the COVID-19 pandemic. Additionally, there is a growing preference for personalized and customizable services, leading to the development of more advanced and versatile commercial service robotics.

Trends in the market: In Belgium, the Commercial service robotics market is experiencing a surge in demand for robots that can assist with tasks such as inventory management and customer service. This trend is driven by the increasing adoption of automation in various industries, as well as the need for social distancing measures during the COVID-19 pandemic. The trajectory of this trend is expected to continue upwards, with a projected growth of 20% in the service robotics market by 2025. This has significant implications for industry stakeholders, as it presents opportunities for growth and innovation in the development and implementation of service robots. Additionally, it could lead to a shift in the workforce as more tasks become automated, requiring new skills and training for employees.

Local special circumstances: In Belgium, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is heavily influenced by the country's highly developed manufacturing and industrial sectors. This has led to a high demand for automation solutions, particularly in the manufacturing and logistics industries. Additionally, the country's strict regulations and focus on sustainability have created a favorable environment for the adoption of service robotics in sectors such as healthcare and agriculture. Furthermore, Belgium's central location in Europe makes it a prime market for service robotics companies looking to expand their reach and tap into the larger European market.

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