Service Robotics - Finland | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$102.10m in 2024.
Consumer service robotics dominates the market with a projected market volume of US$72.66m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.77%, resulting in a market volume of US$212.30m 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 Finland has seen a slight decline in growth, impacted by factors such as slow adoption of digital technologies and limited consumer awareness. However, opportunities for growth remain with the convenience offered by online health services and increasing health awareness among consumers.

Customer preferences: The Service robotics Market within the Robotics Market in Finland has seen a rise in demand for automated home cleaning and personal care robots. This can be attributed to the aging population and the need for assistance in daily tasks. Additionally, there is a growing trend towards sustainable and eco-friendly solutions, with consumers opting for energy-efficient and recyclable robots. This shift is fueled by the increasing awareness and importance placed on environmental issues in Finnish culture.

Trends in the market: In Finland, the Service robotics market is experiencing a surge in demand for autonomous robots in the healthcare sector. This trend is driven by the aging population and shortage of healthcare workers. The use of robots for tasks such as patient monitoring and medication delivery is expected to increase in the coming years. These developments have significant implications for industry stakeholders, as they can improve efficiency and reduce costs in healthcare. Additionally, there is a growing focus on developing robots for social and domestic purposes, such as elderly care and household chores. This trend is expected to continue as the government invests in research and development for service robotics.

Local special circumstances: In Finland, the Service robotics market is heavily influenced by the country's high level of technological advancement and strong focus on innovation. The government's support for research and development in robotics has led to a thriving market for service robots in industries such as healthcare and logistics. Additionally, the country's aging population has created a demand for robotic solutions that can assist with tasks like elder care. The strong emphasis on sustainability and environmental responsibility has also driven the adoption of service robots for tasks such as cleaning and maintenance.

Underlying macroeconomic factors: The service robotics market in Finland is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with strong government support and robust investment in service robotics are experiencing higher market growth compared to regions with limited government funding and technological challenges. Additionally, the rising demand for automation and increasing labor costs are driving the adoption of service robotics, particularly in industries such as healthcare, manufacturing, and logistics. Moreover, Finland's stable economic conditions and high per capita income are expected to further drive market growth in the coming years.

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.