Commercial Service Robotics - Kuwait

Revenue in the Commercial Service Robotics market is projected to reach US$22.25m in 2024.
Other service robotics dominates the market with a projected market volume of US$15.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 23.11%, resulting in a market volume of US$62.94m 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 Kuwait is experiencing extraordinary growth, driven by factors such as increasing adoption of robotics technology, growing demand for efficient and cost-effective services, and rising awareness about the benefits of automation. These factors are expected to continue driving the market's growth in various sub-markets, including Agriculture, Logistics, Medical, and Other Service Robotics, in the coming years.

Customer preferences: The commercial service robotics market in Kuwait is experiencing a significant boost due to the rising demand for contactless services and solutions in the wake of the COVID-19 pandemic. Consumers are looking for autonomous and self-service options in industries such as retail, hospitality, and healthcare, leading to a growing interest in service robots. Additionally, with the increasing adoption of smart technology and digital solutions in Kuwait, there is a rising demand for service robots that can assist with tasks such as delivery, cleaning, and customer service.

Trends in the market: In Kuwait, the Commercial service robotics market is experiencing a surge in demand for cleaning and disinfection robots due to the COVID-19 pandemic. This trend is expected to continue as businesses prioritize maintaining a safe and hygienic environment for their customers and employees. Additionally, there is a growing interest in using service robots in the healthcare sector, particularly for tasks such as patient monitoring and medication delivery. These trends have significant implications for industry stakeholders, as they highlight the need for innovative and technologically advanced solutions in the service robotics market. This presents opportunities for companies to expand their offerings and cater to the evolving needs of businesses and consumers in Kuwait.

Local special circumstances: In Kuwait, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is influenced by the country's high disposable income and growing demand for automation in various industries. Additionally, the government's focus on diversifying the economy and promoting technological innovation has created a supportive environment for the growth of the service robotics market. Furthermore, the country's small size and well-developed infrastructure make it an ideal market for testing and implementing service robotics solutions.

Underlying macroeconomic factors: The Commercial service robotics Market in Kuwait is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and investment in technology and infrastructure. With a strong economy and favorable regulatory environment, Kuwait is experiencing significant growth in the service robotics market. Additionally, the country's increasing focus on diversifying its economy and reducing reliance on oil exports is driving investments in innovative technologies, including service robotics, to support economic growth. Furthermore, the rising demand for automation and efficiency in various industries is also contributing to the growth of the service robotics market in Kuwait.

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.