Consumer Service Robotics - Thailand

Revenue in the Consumer Service Robotics market is projected to reach US$31.10m in 2024.
Domestic service robotics dominates the market with a projected market volume of US$28.76m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.78%, resulting in a market volume of US$64.71m 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 Consumer service robotics market in Thailand is facing a negligible decline in growth rate due to factors such as limited consumer awareness and high costs associated with these technologies. However, with the increasing trend of automation and the need for convenience, the market is expected to witness significant growth in the coming years. This growth can also be attributed to the sub-markets of Domestic and Entertainment Service Robotics, which are gaining popularity among consumers. Overall, the market is poised to experience a positive growth trajectory, driven by the increasing adoption of service robotics in various industries.

Customer preferences: In Thailand, there is a growing demand for consumer service robotics in various industries, such as hospitality and retail. This is driven by the country's aging population, as well as the increasing preference for contactless services due to the COVID-19 pandemic. Additionally, the rise of e-commerce and online shopping has led to a need for efficient and reliable delivery robots. These trends highlight the importance of technology in improving customer experience and streamlining operations in the service sector.

Trends in the market: In Thailand, the Consumer service robotics Market within the Robotics Market is experiencing a surge in demand for delivery and cleaning robots, as businesses seek to reduce human-to-human contact and increase efficiency. This trend is expected to continue in the coming years, with a growing emphasis on automation and contactless services. In addition, there is a rising interest in using robots for healthcare and hospitality services, with the potential to improve service quality and reduce costs. These trends signify the increasing adoption of service robotics in various industries in Thailand, with potential implications for industry stakeholders to invest in this market and keep up with the evolving demand.

Local special circumstances: In Thailand, the Consumer service robotics Market within the Robotics Market is heavily influenced by the country's strong tourism industry. With a large number of visitors, there is a high demand for service robots in the hospitality and entertainment sectors. Additionally, Thailand's aging population has led to a rise in demand for robotic solutions in healthcare and eldercare. Moreover, the government's initiatives to promote the adoption of automation and robotics in various industries have also contributed to the growth of the service robotics market in Thailand.

Underlying macroeconomic factors: The growth of the Consumer service robotics market is also influenced by macroeconomic factors such as technological advancements, government policies, and investment in infrastructure. Countries with supportive regulatory environments and strong investment in service robotics are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in service industries, along with the rising labor costs, are driving the adoption of service robotics in Thailand.

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.