Commercial Service Robotics - Finland

Revenue in the Commercial Service Robotics market is projected to reach US$29.43m in 2024.
Medical service robotics dominates the market with a projected market volume of US$15.17m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.23%, resulting in a market volume of US$43.69m 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 Finland is facing a slight decline in growth, attributed to factors such as slow adoption of digital technologies, limited awareness among consumers, and challenges in the logistics and medical sub-markets. However, the market is expected to bounce back with the increasing demand for automation and efficiency in industries such as agriculture and logistics, highlighting the potential for growth in the overall Service robotics market in Finland.

Customer preferences: In Finland, there is a growing demand for commercial service robots in the healthcare sector, driven by the aging population and shortage of healthcare workers. These robots are being used for tasks such as patient monitoring and medication delivery. Additionally, there has been a shift towards autonomous cleaning robots in commercial settings, as companies prioritize hygiene and sanitation in the wake of the pandemic. This trend is expected to continue as businesses prioritize efficiency and safety in their operations.

Trends in the market: In Finland, the Commercial service robotics market is experiencing a surge in demand for automation solutions in industries such as manufacturing, healthcare, and logistics. This is driven by the increasing need for efficiency and cost savings. Additionally, the market is witnessing a rise in collaborative robots, with companies adopting them for their ability to work alongside humans safely. This trend is expected to continue, with the market projected to grow significantly in the coming years. This presents opportunities for industry stakeholders to tap into the growing market and offer innovative solutions to meet the evolving needs of businesses.

Local special circumstances: In Finland, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is influenced by the country's highly developed technology sector and strong government support for innovation. The market is also shaped by the country's aging population, with a high demand for healthcare and social services robots. Additionally, Finland's strict data privacy laws and regulations have a significant impact on the development and adoption of service robotics solutions.

Underlying macroeconomic factors: The growth of the Commercial service robotics market in Finland is also influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Finland's strong focus on innovation and its robust economy have created a favorable environment for the adoption of service robotics solutions, leading to faster market growth. Additionally, the country's aging population and the need for efficient and cost-effective solutions in various industries are driving the demand for service robotics in Finland.

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.