Commercial Service Robotics - Thailand

Revenue in the Commercial Service Robotics market is projected to reach US$61.24m in 2024.
Other service robotics dominates the market with a projected market volume of US$26.87m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.45%, resulting in a market volume of US$79.85m 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 Thailand is experiencing subdued growth due to various factors such as slow adoption of digital technologies, lack of awareness among consumers, and limited availability of online services. However, increasing demand for automation in industries such as agriculture, logistics, and medical services is expected to drive growth in the overall Service robotics Market.

Customer preferences: The rise of e-commerce and online shopping in Thailand has also led to a growing demand for service robots in the retail and logistics sectors. With the increasing popularity of online shopping, businesses are turning to automation to streamline processes and reduce costs. This trend is expected to continue as the country's middle class continues to grow and demand for convenient and efficient services increases. Additionally, with a significant aging population, there is a growing need for service robots to assist with tasks such as housekeeping and caregiving, creating a new market for service robotics in Thailand.

Trends in the market: In Thailand, the Commercial service robotics Market is experiencing a surge in demand for automation in various industries, including healthcare, hospitality, and retail. This trend is driven by the country's increasing adoption of advanced technologies, such as AI and IoT, to improve efficiency and productivity. Additionally, there is a growing focus on using service robots for tasks that were traditionally performed by humans, such as customer service and delivery. This trend is expected to continue in the coming years, with implications for industry stakeholders, including increased competition and the need for upskilling and reskilling the workforce to adapt to this changing landscape.

Local special circumstances: In Thailand, the Commercial service robotics Market is experiencing significant growth due to the country's increasing adoption of automation and robotics technologies in various industries, such as manufacturing, healthcare, and retail. This can be attributed to the government's initiatives to promote the use of robotics and automation, as well as the country's skilled labor force and favorable business environment. Additionally, Thailand's unique geographical location and cultural heritage have also influenced the development of its service robotics market, with a focus on hospitality and customer service robots for the thriving tourism industry. Moreover, the country's regulatory framework, which encourages foreign investments and partnerships, has further propelled the growth of the service robotics market in Thailand.

Underlying macroeconomic factors: The growth of the Commercial service robotics market in Thailand is also influenced by macroeconomic factors such as technological advancements, government support, and investment in the robotics industry. Countries with favorable regulatory environments and strong investment in automation technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing adoption of automation in various industries and the need for efficiency and cost savings are driving the demand for service robotics in Thailand.

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.