Commercial Service Robotics - Taiwan

Revenue in the Commercial Service Robotics market is projected to reach US$140.40m in 2024.
Medical service robotics dominates the market with a projected market volume of US$96.21m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.83%, resulting in a market volume of US$256.70m 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 Service Robotics market in Taiwan is witnessing significant growth, driven by factors such as increasing adoption of technology, growing awareness about the benefits of service robotics, and the convenience of using these robots. The market's considerable growth rate can be attributed to the demand for various sub-markets such as Agriculture, Logistics, Medical, and Other Service Robotics. These sub-markets are driving the overall market growth, making Taiwan a key player in the global Service Robotics industry.

Customer preferences: As Taiwan's aging population continues to grow, there has been a rise in demand for service robots in the healthcare sector. These robots offer companionship, assist with daily tasks, and provide medical support, catering to the increasing need for elderly care in the country. Additionally, with the rise in e-commerce and delivery services, there is a growing demand for commercial service robots to automate tasks such as sorting, packaging, and delivery, reducing labor costs and increasing efficiency for businesses.

Trends in the market: In Taiwan, there is a growing demand for service robotics in the commercial sector, particularly in industries such as retail, healthcare, and hospitality. This trend is driven by the country's aging population and the need for labor-saving solutions. In addition, there is a shift towards using service robots for contactless delivery and customer service in response to the COVID-19 pandemic. This trend is expected to continue in the coming years, with potential implications for industry stakeholders such as increased efficiency, reduced labor costs, and improved customer experience.

Local special circumstances: In Taiwan, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is thriving due to the country's strong manufacturing base and government support for automation and robotics. The market is also influenced by the country's aging population, leading to the demand for service robots in healthcare and elderly care. Additionally, Taiwan's advanced technology and skilled workforce make it a hub for innovation in the service robotics sector.

Underlying macroeconomic factors: The growth of the Commercial service robotics market is also influenced by macroeconomic factors such as technological advancements, government policies, and investment in 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. Additionally, the increasing demand for automation and efficiency in various industries is driving the adoption of service robotics, especially in the commercial sector.

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.