Commercial Service Robotics - CIS

Revenue in the Commercial Service Robotics market is projected to reach US$258.40m in 2024.
Medical service robotics dominates the market with a projected market volume of US$162.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.80%, resulting in a market volume of US$393.90m 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 CIS is experiencing slow growth due to factors such as limited adoption of digital technologies, low health awareness among consumers, and lack of convenience in online services. This trend is especially evident in sub-markets such as Agriculture, Logistics, Medical, and Other Service Robotics. These factors are contributing to the negligible growth rate of the market.

Customer preferences: As the use of robots in commercial settings continues to expand, there is a growing demand for service robots that can assist with tasks such as cleaning, delivery, and customer service. This is driven by the increasing emphasis on efficiency and cost-effectiveness in the business world. Additionally, the COVID-19 pandemic has accelerated the adoption of service robots in industries such as healthcare, retail, and hospitality, as companies look for ways to minimize human contact and reduce the risk of transmission. This trend is expected to continue in the coming years, with service robots playing a crucial role in the post-pandemic economy.

Trends in the market: In the CIS region, the commercial service robotics market is experiencing a surge in demand for autonomous and semi-autonomous robots in industries such as manufacturing and logistics. This trend is driven by the need for increased efficiency and productivity, as well as the growing adoption of Industry 4.0 technologies. Additionally, there is a shift towards collaborative robots, or cobots, which can work alongside human workers to improve safety and flexibility in production processes. These trends are significant as they indicate a shift towards more advanced and intelligent robotic solutions, potentially leading to higher adoption rates and revenue growth for industry stakeholders. However, this may also result in job displacement and the need for retraining of workers.

Local special circumstances: In the CIS region, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is driven by the increasing adoption of automation and digitalization in the manufacturing and logistics sectors. Additionally, the region's large oil and gas industry has created a demand for service robots in hazardous environments. However, regulatory barriers and lack of awareness about the benefits of service robotics are hindering market growth. In contrast, the European market is driven by strict regulations promoting the use of service robots in healthcare and social services. This has resulted in a high adoption of service robots in these sectors, leading to a mature market with a strong focus on safety and ethics.

Underlying macroeconomic factors: The Commercial service robotics Market within the Robotics Market is greatly affected by macroeconomic factors such as technological advancements, government policies, and investments in infrastructure. Countries with favorable regulatory frameworks and high investments in service robotics are experiencing rapid market growth, while regions with regulatory challenges and limited funding are facing slower growth. Moreover, the rising demand for automation and efficiency in various industries, coupled with the aging population and growing labor costs, is driving the adoption of service robotics in commercial settings.

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.