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Consumer Service Robotics - Ghana

Ghana
  • Revenue in the Consumer Service Robotics market is projected to reach US$7.38m in 2024.
  • Domestic service robotics dominates the market with a projected market volume of US$5.56m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 24.24%, resulting in a market volume of US$21.83m 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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In-Scope

  • Domestic Service Robotics
  • Entertainment Service Robotics

Out-Of-Scope

  • Commercial Service Robotics
Service robotics: market data & analysis  - Cover

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Service robotics: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Volume

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Price

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Consumer Service Robotics market in the Ghanaian Robotics market is seeing moderate growth, driven by factors such as increasing awareness of the benefits of service robots, growing demand for convenience and efficiency, and advancements in technology. However, the market is experiencing a mild decline in growth rate due to factors such as high initial costs and limited adoption in certain sub-markets.

    Customer preferences:
    In Ghana, there has been a growing demand for service robotics in the consumer sector, particularly in the hospitality and retail industries. This can be attributed to a rise in disposable income and a shift towards a more service-oriented economy. Additionally, there is a cultural preference for personalized and efficient service, making service robotics an attractive option. With the increasing use of smartphones and internet penetration, there is a growing demand for digital and self-service options, driving the adoption of service robots in various industries. The trend towards contactless services and social distancing measures due to the COVID-19 pandemic has further accelerated the acceptance and use of service robotics in Ghana.

    Trends in the market:
    In Ghana, the Consumer service robotics Market is witnessing a rise in the use of service robots in industries such as healthcare, education, and hospitality. This trend is driven by the increasing demand for efficient and cost-effective solutions to meet the growing needs of a developing economy. The trajectory of this trend is expected to continue upwards, with potential implications for industry stakeholders such as increased productivity, improved customer service, and reduced labor costs. Additionally, this trend could also lead to the development of local service robotics companies, creating job opportunities and contributing to the growth of the robotics market in Ghana.

    Local special circumstances:
    In Ghana, the Consumer service robotics Market of the Service robotics Market within the Robotics Market is influenced by the cultural tradition of communal living and the importance placed on personal interactions. As a result, there is a strong demand for service robots that can assist with household tasks and provide companionship. Additionally, the country's developing economy and infrastructure present unique challenges for companies looking to enter the market, requiring them to adapt their products to suit the local environment. This has led to the emergence of innovative solutions, such as solar-powered cleaning robots, to address the lack of reliable electricity and high cost of energy in the country.

    Underlying macroeconomic factors:
    The growth of the Consumer service robotics market in Ghana is influenced by various macroeconomic factors, including the country's economic growth, technological advancements, regulatory support, and investment in infrastructure. Ghana's stable economic growth and favorable regulatory environment have attracted investments in the robotics industry, leading to a steady market growth. Additionally, the country's growing population and increasing demand for better customer service are driving the adoption of service robotics solutions in various industries, such as retail, healthcare, and hospitality.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Methodology

    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.

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    Service robotics: market data & analysis  - BackgroundService robotics: market data & analysis  - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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    Industrial robots worldwide - statistics & facts

    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.
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