Consumer Service Robotics - Austria

Revenue in the Consumer Service Robotics market is projected to reach US$116.30m in 2024.
Domestic service robotics dominates the market with a projected market volume of US$101.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.23%, resulting in a market volume of US$236.30m by 2029.
In global comparison, most revenue will be generated China (US$5.53bn in 2024).

Definition:

The Consumer Service Robotics market covers the market size of service robotics for consumer use, e.g., household and entertainment robots. Consumer robots are usually not big and relatively easy to use. Consumer robots include vacuum cleaners, robotic toys, and drones.

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, 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 iRobot, Samsung, and Xiaomi.

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Domestic Service Robotics
Entertainment Service Robotics

Commercial Service Robotics

The Consumer service robotics market in Austria is facing a negligible decline in growth, influenced by factors such as the slow adoption of digital technologies, limited health awareness among consumers, and the lack of convenience offered by online health services. These challenges are particularly prevalent in the sub-markets of Domestic and Entertainment Service Robotics, further impacting the overall market's growth rate.

Customer preferences: Consumers in Austria are gradually embracing the use of service robots in their daily lives, particularly in the healthcare and hospitality sectors. This growing trend is driven by the country's aging population and the rising demand for personalized and efficient services. Additionally, the COVID-19 pandemic has accelerated the adoption of service robotics, as consumers prioritize contactless interactions and rely on technology to assist with tasks such as cleaning and disinfection.

Trends in the market: In Austria, the consumer service robotics market is experiencing a surge in demand for delivery and assistance robots in response to the COVID-19 pandemic. This trend is expected to continue, with the market projected to grow significantly in the coming years. This has led to an increased focus on developing advanced technologies such as artificial intelligence and machine learning to enhance the capabilities of service robots. Additionally, there is a growing trend of incorporating voice and gesture recognition technology in service robots to improve their interactions with humans. These advancements are expected to have a significant impact on the service robotics market, making it more efficient and versatile for various industries.

Local special circumstances: In Austria, the Consumer service robotics Market is experiencing growth due to the country's high demand for automation and efficiency in customer service. The market is also driven by the country's strict labor laws, which make it expensive for businesses to hire human employees. Additionally, the country's aging population is creating a need for robotic solutions in the healthcare sector. These factors, combined with Austria's strong economy and focus on innovation, make it a promising market for consumer service robotics.

Underlying macroeconomic factors: The Consumer service robotics Market in Austria is heavily influenced by macroeconomic factors such as technological advancements, consumer spending, and government policies. With a strong economy and high levels of consumer spending, Austria is a favorable market for service robotics. Additionally, the country's focus on innovation and investment in research and development has led to advancements in robotics technology, further driving market growth. Furthermore, Austria's aging population has resulted in a growing demand for service robotics in healthcare and elderly care, creating opportunities for market players. Overall, the favorable economic and demographic factors in Austria are expected to continue driving the growth of the Consumer service robotics Market in the country.

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.