Service Robotics - Egypt

Egypt

Revenue in the Service Robotics market is projected to reach US$55.17m in 2024.
Consumer service robotics dominates the market with a projected market volume of US$40.29m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.91%, resulting in a market volume of US$92.57m by 2029.
In global comparison, most revenue will be generated in the United States (US$8,681.00m in 2024).

Key regions: France, United Kingdom, United States, Canada, South Korea

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Analyst Opinion

The Service Robotics Market in Egypt is facing a significant decline in growth rate due to factors such as limited adoption of digital technologies, low health awareness among consumers, and lack of convenience in online health services. Despite the potential for growth in both Commercial and Consumer sub-markets, the overall market is hindered by these challenges.

Customer preferences: As the demand for automation and efficiency increases in Egypt, there has been a notable shift towards the adoption of service robots in various industries such as healthcare, hospitality, and retail. This trend is driven by the need for contactless and hygienic solutions, especially in light of the ongoing COVID-19 pandemic. Additionally, with a growing elderly population, there is a rising demand for assistive robots to provide care and companionship for the elderly. This shift towards service robotics is also influenced by cultural values of hospitality and personalized customer service, leading businesses to invest in these technologies to enhance customer experience.

Trends in the market: In Egypt, the Service robotics Market is experiencing a surge in adoption, driven by the increasing demand for automation and efficiency in various industries such as healthcare and manufacturing. This trend is expected to continue as the country invests in modernizing its infrastructure and adopting advanced technologies. Additionally, there is a growing focus on developing local robotics capabilities, with the government providing incentives and support for research and development. These trends have significant implications for industry stakeholders, as they create opportunities for growth and innovation in the Service robotics Market in Egypt.

Local special circumstances: In Egypt, the Service robotics Market is experiencing significant growth due to the country's increasing focus on technological innovation and automation. The government's initiatives to promote the adoption of robotics in various industries, such as healthcare and agriculture, have also contributed to the market's growth. Additionally, the country's large and youthful population has created a demand for advanced and efficient service robots. However, the market faces challenges in terms of regulations and cultural acceptance of robots in certain industries, which may hinder its growth potential.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market is influenced by macroeconomic factors such as technological advancements, government initiatives, 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 barriers and limited funding. Moreover, the increasing demand for automation and cost-effective solutions in various industries, along with the aging population, is driving the market for service robotics in Egypt.

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.