Consumer Service Robotics - Finland

Revenue in the Consumer Service Robotics market is projected to reach US$72.66m in 2024.
Domestic service robotics dominates the market with a projected market volume of US$64.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 18.34%, resulting in a market volume of US$168.60m 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 Service robotics Market in Finland has seen a steady growth rate, driven by factors such as increasing consumer demand for advanced robotic services, growing awareness about the benefits of robotics in various industries, and the convenience offered by automated systems. Despite a minimal decline, the market is expected to continue expanding due to the rising adoption of digital technologies and the development of innovative solutions in sub-markets such as Domestic and Entertainment Service Robotics.

Customer preferences: Consumers in Finland are becoming more open to using service robotics for household tasks, such as cleaning and cooking, due to the aging population and shortage of domestic workers. This trend is also driven by the increasing emphasis on work-life balance and convenience, as well as the desire for eco-friendly and energy-efficient solutions. Additionally, the growing interest in smart home technology and the rise of e-commerce have further fueled the demand for consumer service robotics in the Finnish market.

Trends in the market: In Finland, the Consumer service robotics Market is experiencing a rise in demand for personal care robots, such as robotic assistants for the elderly and disabled. This trend is driven by the country's aging population and increasing focus on healthcare and social services. Additionally, there is a growing trend towards using service robots in retail and hospitality industries to improve efficiency and customer experience. These developments are expected to have a significant impact on the industry, with potential implications for stakeholders such as manufacturers, service providers, and end-users.

Local special circumstances: In Finland, the Consumer service robotics Market is fueled by the country's aging population and high labor costs. This has led to a growing demand for robots in sectors such as healthcare, hospitality, and retail. Additionally, the country has a strong focus on sustainability and eco-friendliness, leading to the development of service robots that are energy-efficient and environmentally friendly. The market is also influenced by the country's strict data privacy regulations, which ensure the protection of consumer data collected by service robots.

Underlying macroeconomic factors: The Consumer service robotics Market within the Robotics Market in Finland is significantly impacted by macroeconomic factors such as technological advancements, government support, and investment in research and development. Finland has a strong economy with a high level of technological expertise and a favorable regulatory environment, which has led to a growing demand for service robotics solutions. Additionally, the country's aging population and increasing incidence of chronic diseases are driving the need for advanced robotics technologies to improve healthcare access and outcomes.

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.