Commercial Service Robotics - Hungary

Revenue in the Commercial Service Robotics market is projected to reach US$31.06m in 2024.
Medical service robotics dominates the market with a projected market volume of US$20.26m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.55%, resulting in a market volume of US$44.69m 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 Hungary is experiencing a slow growth rate due to factors such as low adoption of digital technologies, limited health awareness among consumers, and less convenience in online health services. The sub-markets of Agriculture, Logistics, Medical, and Other Service Robotics also contribute to this trend. However, with advancements in technology and increasing demand for automation, the market is expected to see a significant growth in the near future.

Customer preferences: The demand for service robots in the commercial sector in Hungary is expected to increase, as businesses seek to automate processes and increase efficiency. This trend is also driven by the country's aging population, leading to a higher demand for healthcare and eldercare services. Additionally, the rise of e-commerce and online shopping has created a need for autonomous delivery robots, as more consumers prefer the convenience of receiving their purchases at their doorstep.

Trends in the market: In Hungary, the Commercial service robotics Market within the Robotics Market is experiencing a surge in demand for automation solutions in industries such as manufacturing, healthcare, and logistics. This is due to the country's aging population and shortage of skilled labor. Additionally, there is a growing trend towards the use of collaborative robots (cobots) in these sectors, which are designed to work alongside humans and increase efficiency. This trend is expected to continue, as the government is actively promoting the adoption of robotics and automation in various industries to boost economic growth. Moreover, the rise of Industry 4.0 and the increasing focus on digitalization and smart manufacturing are expected to further drive the growth of the Commercial service robotics Market in Hungary. These developments present significant opportunities for industry stakeholders, but also pose challenges in terms of upskilling the workforce and ensuring a smooth transition to a more automated future.

Local special circumstances: In Hungary, the Commercial service robotics Market is seeing growth due to the country's strong manufacturing industry and adoption of automation technologies. Additionally, the government's support for innovation and investment in robotics has also contributed to the market's development. However, the market is also facing challenges such as a shortage of skilled labor and strict regulations on the use of robotics in certain industries. These factors have led to a unique market landscape, which differs from other markets in the region, and impacts the dynamics of the Service robotics Market within the Robotics Market.

Underlying macroeconomic factors: The growth of the Commercial service robotics market in Hungary is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in automation 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 for automation. Additionally, the increasing demand for labor efficiency and cost reduction in various industries is driving the adoption of service robotics, especially in the manufacturing and logistics sectors.

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.