Service Robotics - Estonia | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$60.48m in 2024.
Commercial service robotics dominates the market with a projected market volume of US$56.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -5.74%, resulting in a market volume of US$45.00m by 2029.
In global comparison, most revenue will be generated United States (US$8.68bn in 2024).

Definition:

The Service Robotics market presents the market size of robotics in service use cases, e.g., commercial service robots or consumer service robots. Service robots are intended for personal or professional use and are designed to assist humans in carrying out certain tasks.

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.

Structure :

The Commercial Service Robotics and Consumer Service Robotics markets can be found within the Service Robotics market. The Commercial Robotics market is further split into a range of service industries that have the highest adoption of robots. This includes agriculture service robotics, logistics service robotics, medical service robotics, and all other service industries, which are all covered by the Other Industry Robotics market.

Additional information:

The market comprises revenues, volume, and the 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 robot. 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 Intuitive Surgical, ABB, and iRobot.

For more information on the data displayed, use the info button right next to the box.

Commercial Service Robotics
Consumer Service Robotics

robots used in industrial use cases

The Service Robotics Market in Estonia has seen a subdued decline in growth due to factors such as limited adoption of digital technologies, low health awareness among consumers, and a lack of convenience in online services. However, with the potential for growth in both Commercial and Consumer sub-markets, the market is expected to pick up pace in the coming years.

Customer preferences: As the use of service robots becomes more prevalent in Estonia, consumers are increasingly looking for efficient and convenient solutions in their daily lives. This has led to a rise in demand for service robots that can assist with household chores, provide entertainment, and even offer companionship. Additionally, the aging population in Estonia has also contributed to the adoption of service robots for eldercare, as they provide a sense of independence and security. This trend is expected to continue as the country's population continues to age.

Trends in the market: In Estonia, the Service robotics Market within the Robotics Market is experiencing a surge in the adoption of autonomous robots for various applications such as healthcare, agriculture, and logistics. This trend is driven by the country's focus on promoting automation and digitalization in industries. The significance of this trend lies in its potential to increase efficiency and reduce labor costs for businesses. However, it also raises concerns about job displacement and the need for upskilling. Additionally, with the increasing use of robots in public spaces, there is a growing demand for regulations to ensure safety and ethical use of these technologies.

Local special circumstances: In Estonia, the Service robotics Market is thriving due to the country's advanced technological infrastructure and high adoption of automation. The government's support for digitalization and AI-driven solutions has created a favorable environment for service robots. Additionally, the small population and high labor costs have also contributed to the market's growth, as businesses seek to increase efficiency and reduce costs through robotics.

Underlying macroeconomic factors: The Service robotics market in Estonia is expected to experience significant growth in the coming years, driven by macroeconomic factors such as technological advancements, government support, and investments in research and development. With a strong focus on digitalization and innovation, Estonia has created a favorable environment for the development and adoption of service robotics. Additionally, the country's stable economic growth and favorable fiscal policies have further contributed to the growth of the service robotics market. As the demand for automation and efficiency increases, the service robotics market in Estonia is poised for continued expansion in the global robotics market.

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.