Service Robotics - Greece

Greece

Revenue in the Service Robotics market is projected to reach US$42.11m in 2024.
Commercial service robotics dominates the market with a projected market volume of US$23.92m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.83%, resulting in a market volume of US$77.01m 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 Greece is seeing minimal growth, influenced by factors such as low consumer awareness and slow adoption of digital technologies. However, the convenience of online services and increasing health awareness may drive growth in the near future.

Customer preferences: As the demand for automation and efficiency grows in the service industry, consumers in Greece are now more open to embracing service robotics solutions. This trend is driven by a growing desire for contactless and streamlined services, especially in the hospitality and healthcare sectors. Additionally, the increasing aging population in Greece has created a need for robotic assistance in caregiving and home maintenance, leading to a rise in the adoption of service robotics.

Trends in the market: In Greece, the Service robotics Market within the Robotics Market is experiencing a surge in demand for automation solutions across various industries, such as manufacturing, healthcare, and logistics. This trend is driven by the need for increased productivity, cost reduction, and improved efficiency. Additionally, there is a growing interest in using service robots for tasks that require high precision and accuracy, such as surgical procedures and warehouse operations. These trends are expected to continue in the coming years, with the adoption of advanced technologies, such as artificial intelligence and machine learning, further fueling the growth of the service robotics market in Greece. This presents significant opportunities for industry stakeholders to tap into this emerging market and capitalize on its potential.

Local special circumstances: In Greece, the Service robotics market is growing due to the country's aging population and a shortage of healthcare workers. The government has recognized the potential of robotics in addressing these challenges and has implemented initiatives to support the adoption of service robots in healthcare. Additionally, Greece's Mediterranean climate and geography make it an ideal location for outdoor service robots, such as agricultural and delivery robots. The country's strong focus on tourism also presents opportunities for service robots in the hospitality industry.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market in Greece is greatly influenced by macroeconomic factors such as the country's economic recovery, government policies promoting automation and technological advancements, and increasing investments in the service robotics industry. With the global trend towards automation and the rise of Industry 4.0, Greece is positioning itself as a competitive market for service robotics, driven by its strong manufacturing and tourism sectors. Furthermore, the government's initiatives to improve its healthcare infrastructure and aging population are also contributing to the growth of the service robotics market.

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.