Commercial Service Robotics - Serbia

Revenue in the Commercial Service Robotics market is projected to reach US$5.18m in 2024.
Medical service robotics dominates the market with a projected market volume of US$3.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.09%, resulting in a market volume of US$7.65m 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 Serbia is experiencing minimal growth, influenced by factors such as the slow adoption of digital technologies, limited health awareness among consumers, and low convenience in online services. These factors are particularly evident in the Agriculture, Logistics, Medical, and Other sub-markets, hindering the overall growth of the Service Robotics market in the country.

Customer preferences: Rapid advancements in automation and artificial intelligence have led to a growing preference for service robots in the commercial sector in Serbia. These robots are being used in industries such as retail, hospitality, and healthcare to streamline operations and improve efficiency. With the rise of the gig economy, there is also a growing demand for collaborative robots to work alongside human workers. This trend is further fueled by the increasing need for contactless services and reduced human-to-human interactions in the wake of the COVID-19 pandemic.

Trends in the market: In Serbia, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is experiencing a surge in demand for cleaning and disinfection robots, as businesses and public spaces prioritize hygiene and safety due to the COVID-19 pandemic. This trend is expected to continue with the implementation of government regulations and guidelines for maintaining cleanliness in various industries. Additionally, there is an increasing adoption of logistics and delivery robots in the e-commerce sector, as companies strive to optimize their supply chain processes. These trends highlight the importance of automation and the potential for further growth in the service robotics market in Serbia.

Local special circumstances: In Serbia, the Commercial service robotics market is influenced by the country's focus on modernizing its manufacturing sector. The government's initiatives to attract foreign investment, coupled with the skilled workforce, have made Serbia an attractive market for service robotics. Additionally, the country's strategic location and its membership in the European Union have opened up opportunities for service robotics companies to expand their presence in the region. The market is also driven by the increasing demand for automation and efficiency in industries such as automotive, food processing, and logistics.

Underlying macroeconomic factors: The growth of the Commercial service robotics market is also influenced by macroeconomic factors such as advancements in technology, government policies, and investment in automation infrastructure. Countries with supportive regulatory environments and strong investment in service robotics are experiencing faster market growth compared to regions with regulatory challenges and limited funding for automation. Additionally, the increasing demand for efficient and cost-effective solutions in various industries is driving the adoption of service robotics, especially in countries with a growing aging population and a need for labor-saving technologies.

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.