Service Robotics - Guatemala | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$20.25m in 2024.
Commercial service robotics dominates the market with a projected market volume of US$11.06m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.71%, resulting in a market volume of US$41.99m 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.

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Commercial Service Robotics
Consumer Service Robotics

robots used in industrial use cases

The Service robotics market in Guatemala is facing a negligible decline in growth rate due to factors such as slow adoption of digital technologies, low health awareness among consumers, and limited availability of online health services. This can be attributed to the underdevelopment of the robotics market in the country, with a focus on industrial robotics rather than service robotics.

Customer preferences: With the growing adoption of automation and AI technologies, the Service robotics Market within the Robotics Market has witnessed a rise in demand for automated services in various industries. This trend is driven by the need for cost-effective and efficient solutions, particularly in developing countries like Guatemala. Additionally, the rise of e-commerce and delivery services has led to an increase in demand for service robots, as they can provide contactless and timely delivery of goods and services. This shift towards automation is also attributed to the changing demographics and lifestyle factors, with consumers seeking convenience and speed in their daily tasks.

Trends in the market: In Guatemala, the Service robotics Market within the Robotics Market is experiencing a surge in demand for collaborative robots in various industries, such as manufacturing and healthcare. This trend is driven by the need for increased efficiency and cost-effectiveness in these industries. Additionally, there is a growing trend towards the use of artificial intelligence and machine learning in service robotics, enabling them to perform more complex tasks and adapt to changing environments. This trend is expected to continue as advancements in technology and automation continue to shape the future of the service robotics market in Guatemala and globally. Industry stakeholders should keep a close eye on these developments and invest in research and development to stay competitive in this rapidly evolving market.

Local special circumstances: In Guatemala, the Service robotics market is steadily growing due to the country's strong focus on adopting advanced technologies. The government's initiatives to improve efficiency and productivity in various industries have increased the demand for service robots. Additionally, the country's unique geographical features, such as mountainous terrain and diverse agricultural landscape, have led to the development of specialized robots for tasks like crop harvesting and disaster response. Furthermore, the cultural factors of close-knit communities and strong family values have influenced the use of service robots in elderly care and household chores. The regulatory framework in Guatemala also promotes the adoption of service robots, with tax incentives for companies investing in robotics technology.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market is heavily impacted by macroeconomic factors such as technological advancements, government support, and investments in infrastructure. Countries with favorable economic conditions and strong support for robotics are experiencing faster market growth compared to regions with limited government funding and regulatory challenges. Additionally, the rising demand for automation and efficiency in various industries, coupled with the increasing labor costs, is driving the adoption of service robotics in the 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.