Consumer Service Robotics - Southeast Asia

  • Southeast Asia
  • Revenue in the Consumer Service Robotics market is projected to reach US$273.10m in 2024.
  • Domestic service robotics dominates the market with a projected market volume of US$218.70m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 24.66%, resulting in a market volume of US$822.20m by 2029.
  • In global comparison, most revenue will be generated in China (US$5,532.00m in 2024).

Key regions: South Korea, Germany, Japan, Canada, France

 
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Analyst Opinion

The Consumer Service Robotics market in Southeast Asia is facing slow growth due to factors such as limited adoption of digital technologies, low health awareness among consumers, and lack of convenience in online health services. These challenges are especially prevalent in the sub-markets of Domestic Service Robotics and Entertainment Service Robotics. Without addressing these issues, the market is expected to continue experiencing a negligible growth rate in the near future.

Customer preferences:
As Southeast Asia experiences rapid urbanization and a growing middle class, there is a rising demand for consumer service robotics in the region. This can be attributed to the cultural emphasis on hospitality and service, as well as the increasing adoption of technology in daily life. Additionally, the aging population in some countries has led to a demand for robots that can assist with tasks such as caregiving and household chores. As a result, there has been a significant increase in the development of service robots tailored to the needs and preferences of Southeast Asian consumers.

Trends in the market:
In Southeast Asia, there is a growing demand for consumer service robotics in various industries such as healthcare, retail, and hospitality. This is driven by the increasing focus on automation and efficiency in these sectors. Additionally, there is a shift towards more personalized and interactive customer experiences, creating opportunities for service robotics in areas such as customer service and product delivery. As the region continues to embrace technological advancements, the consumer service robotics market is expected to see significant growth in the coming years. This trend has implications for industry stakeholders, as they will need to adapt and invest in innovative solutions to stay competitive in the market.

Local special circumstances:
In Southeast Asia, the Consumer service robotics market is primarily driven by the increasing demand for automation and digitalization in industries such as retail, hospitality, and healthcare. The region's strong economic growth, coupled with a growing middle class, has also led to a rise in demand for personalized and efficient services, driving the adoption of service robots. Additionally, the region's diverse cultural landscape and regulatory environment pose unique challenges for service robotics companies, requiring them to tailor their products to meet local needs and comply with regulations. This has led to the emergence of local players and partnerships with established global companies to cater to the specific demands of the Southeast Asian market.

Underlying macroeconomic factors:
The growth of the Consumer service robotics market is impacted by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable policies and strong investment in service robotics technologies are experiencing rapid market growth, while regions with regulatory challenges and limited funding are facing slower growth. Furthermore, the rising prevalence of e-commerce and the demand for automation in service industries, coupled with the increasing aging population, are driving the demand for service robotics solutions to enhance efficiency and customer experience.

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.

Overview

  • Revenue
  • Key Players
  • Volume
  • Price
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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