Consumer Service Robotics - Greece

Revenue in the Consumer Service Robotics market is projected to reach US$18.19m in 2024.
Domestic service robotics dominates the market with a projected market volume of US$15.35m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.70%, resulting in a market volume of US$37.71m 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 Greece has been facing a negligible decline in growth rate, influenced by factors such as limited adoption of digital technologies, lack of awareness among consumers, and challenges in providing convenient online services. This trend is observed in both the Domestic and Entertainment sub-markets of the overall market.

Customer preferences: The Greek market for consumer service robotics is experiencing a growing demand for advanced technological solutions in various industries, such as healthcare, hospitality, and retail. This can be attributed to a shift towards more personalized and efficient services, driven by the increasing adoption of digital technologies and changing consumer preferences. For instance, there is a growing demand for robotic assistants in healthcare settings to assist with tasks such as medication reminders and patient monitoring, as well as in retail environments to enhance the customer experience. This trend is expected to continue as the Greek population ages and places a higher value on convenience and efficiency in service delivery.

Trends in the market: In Greece, the Consumer service robotics market is seeing a rise in the adoption of AI-powered chatbots in the retail and hospitality sectors to enhance customer experience and reduce costs. This trend is expected to continue as businesses look for innovative ways to streamline operations and improve customer satisfaction. Additionally, the use of service robots in the healthcare sector is gaining momentum, with hospitals and clinics using them for tasks such as disinfection and patient care. This trend is significant as it addresses the shortage of healthcare workers and promotes social distancing. It also presents opportunities for industry stakeholders to tap into this growing market.

Local special circumstances: In Greece, the Consumer service robotics market is driven by the country's aging population and the need for advanced healthcare solutions. The market is also influenced by the tourism industry, as service robots are used in hotels and restaurants to enhance customer service. Additionally, Greece's strict labor laws and high minimum wage have led to the adoption of service robots in the retail and hospitality sectors. Moreover, the country's focus on renewable energy and sustainability has created opportunities for service robots in agriculture and environmental monitoring.

Underlying macroeconomic factors: The Consumer service robotics market in Greece is heavily impacted by macroeconomic factors such as government policies, technological advancements, and investment in the robotics industry. With a strong focus on promoting innovation and digitalization, Greece has a favorable regulatory environment for the growth of the service robotics market. Furthermore, the country's growing aging population and increasing demand for efficient and personalized services are also driving the adoption of service robotics solutions. Additionally, the government's initiatives to improve healthcare and service sectors are expected to boost the demand for consumer service robotics 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.