Commercial Service Robotics - Southern Asia

Revenue in the Commercial Service Robotics market is projected to reach US$139.90m in 2024.
Medical service robotics dominates the market with a projected market volume of US$57.09m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.91%, resulting in a market volume of US$127.00m 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.

For more information on the data displayed, use the info button right next to the box.

Medical Service Robotics
Logistic Services Robotics
Agriculture Service Robotics
Other Service Robotics

Consumer Service Robotics

The Commercial service robotics market in Southern Asia has been witnessing significant growth, driven by the increasing adoption of digital technologies, growing awareness about the benefits of service robotics, and the convenience offered by online services. Despite a high growth rate, the market is experiencing a decline due to factors such as the economic impact of COVID-19 and the slow adoption of service robotics in certain sub-markets.

Customer preferences: The Commercial service robotics Market of the Service robotics Market within the Robotics Market is experiencing a rise in demand for autonomous cleaning and maintenance solutions, driven by the need for efficient and cost-effective services in densely populated cities. This trend is particularly prevalent in Southern Asia, where rapid urbanization and a growing middle class are driving the adoption of service robots for tasks such as floor cleaning, window washing, and waste management. Additionally, there is a growing preference for contactless services, especially in the wake of the COVID-19 pandemic, leading to an increased demand for robots that can perform tasks without human intervention.

Trends in the market: In Southern Asia, the Commercial service robotics Market within the Service robotics Market is experiencing a rise in demand for agricultural robots, as the region heavily relies on agriculture for its economy. In addition, there is a growing trend of using service robots in the healthcare sector to assist with tasks such as medication delivery and patient care. These trends highlight the potential for service robots to improve efficiency and quality of life in the region. However, concerns over job displacement and high initial costs may hinder widespread adoption.

Local special circumstances: In Southern Asia, the Commercial service robotics Market is heavily influenced by the region's rapidly growing economy and increasing adoption of automation solutions. While countries like India and China are leading the market, each country has its own unique set of regulations and cultural norms that shape the demand for service robotics. For instance, in China, the government's emphasis on modernizing manufacturing processes has led to a high demand for industrial service robots, while in India, the focus is on using service robots in healthcare and agriculture to improve efficiency and reduce labor costs.

Underlying macroeconomic factors: The growth of the Commercial service robotics market is influenced by macroeconomic factors such as technological advancements, government policies, and investment in research and development. 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. Additionally, the increasing demand for automation and efficiency in industries such as healthcare, manufacturing, and logistics is driving the adoption of service robotics, particularly in Southern Asia.

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.