Market Insights Technology Robotics Service Robotics

Commercial Service Robotics - Israel

Israel

Revenue in the Commercial Service Robotics market is projected to reach US$46.03m in 2024.
Medical service robotics dominates the market with a projected market volume of US$31.67m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.01%, resulting in a market volume of US$53.39m by 2029.
In global comparison, most revenue will be generated in the United States (US$4,993.00m in 2024).

Key regions: Italy, Japan, France, United States, China

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Analyst Opinion

The Commercial Service Robotics Market in Israel is facing a slight decline in growth rate due to factors such as slow adoption of digital technologies in the sub-markets of Agriculture, Logistics, Medical, and Other Service Robotics. Additionally, the market is impacted by the lack of awareness and convenience of online services in the region. However, with increasing health consciousness among consumers, the market is expected to experience significant growth in the near future.

Customer preferences: The demand for service robotics in Israel is on the rise as businesses seek to automate and streamline their operations. This trend is driven by a growing preference for efficiency and cost-effectiveness, as well as a shift towards more personalized and convenient services. Additionally, with the country's aging population, there is a growing need for robotics solutions in healthcare and elder care industries. This has led to the development of advanced robotic systems that can assist with tasks such as medication management and daily activities for elderly individuals.

Trends in the market: In Israel, the Commercial service robotics Market is experiencing a surge in demand from industries such as healthcare, retail, and logistics. This is driven by the increasing adoption of automation and AI technologies to improve efficiency and reduce costs. Additionally, there is a growing trend towards collaborative robots, which can work alongside humans, enhancing productivity and safety. These trends are significant as they showcase the potential of service robotics to transform various industries. Industry stakeholders should take note of these developments and invest in research and development to stay competitive in the rapidly evolving service robotics market.

Local special circumstances: In Israel, the Commercial service robotics Market is thriving due to the country's strong tech industry and innovative culture. The market is driven by the government's support for robotics research and development, as well as the country's high demand for automation in various industries. Additionally, the country's strict regulations on labor and immigration have led to a shortage of skilled workers, making service robots an attractive solution for businesses. Furthermore, Israel's geographic location and geopolitical situation have also influenced the market, as the country's focus on security and defense has led to advancements in military and security robots.

Underlying macroeconomic factors: The growth of the Commercial service robotics market in Israel is heavily influenced by macroeconomic factors such as technological advancements, government support, and investments in the country's robotics infrastructure. Israel has a strong reputation for innovation and a thriving startup culture, making it a hub for robotics development. Additionally, the country's robust economy and favorable business climate have attracted significant investments in the robotics industry. The increasing demand for automation and efficiency in various sectors, such as manufacturing and healthcare, is also driving the growth of the commercial service robotics market in Israel.

Methodology

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.