Service Robotics - Kuwait | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$32.94m in 2024.
Commercial service robotics dominates the market with a projected market volume of US$22.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.66%, resulting in a market volume of US$74.28m 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 Kuwait is witnessing significant growth, driven by factors such as increasing adoption of advanced technologies, rising demand for efficient and cost-effective solutions, and growing awareness about the benefits of service robotics in various industries. This elevated growth rate is also influenced by the emergence of new sub-markets and the development of innovative products and services in the field of robotics.

Customer preferences: With the rise of smart home technology and the increasing reliance on automation, there has been a growing demand for service robotics in Kuwait. This trend is driven by the country's young and tech-savvy population, as well as the desire for convenience and efficiency in daily tasks. In addition, the COVID-19 pandemic has further accelerated the adoption of service robotics, as people seek contactless solutions for tasks such as delivery and cleaning. This shift towards robotics is expected to continue in the coming years, as consumers prioritize safety and convenience in their daily lives.

Trends in the market: In Kuwait, the Service robotics Market is observing an increase in demand for autonomous delivery robots in the retail and hospitality sectors. This trend is expected to continue with the rise of e-commerce and the need for contactless delivery options during the COVID-19 pandemic. Additionally, there is a growing adoption of social robots in healthcare facilities to assist with patient care and reduce the burden on healthcare workers. These trends highlight the potential for service robotics to enhance efficiency and safety in various industries, providing opportunities for growth and innovation for businesses in the region.

Local special circumstances: In Kuwait, the Service robotics Market within the Robotics Market is influenced by the country's heavy reliance on oil and gas industries. This has led to a demand for robots that can assist in the inspection and maintenance of oil rigs and pipelines. Additionally, Kuwait's strict labor laws have resulted in a shortage of skilled labor, making service robots an attractive solution for businesses. The cultural emphasis on hospitality and customer service has also driven the adoption of service robots in the hospitality and retail industries.

Underlying macroeconomic factors: The service robotics market in Kuwait is heavily influenced by macroeconomic factors such as the country's overall economic health, government policies and investments, and global economic trends. As Kuwait continues to diversify its economy and reduce its dependence on oil, there is a growing focus on investing in emerging technologies like robotics. Additionally, the government's initiatives to improve efficiency and productivity in various industries through automation and robotics are driving the demand for service robotics in the country. Moreover, the increasing demand for advanced healthcare services, coupled with the aging population, is also contributing to the growth of the service robotics market in Kuwait.

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.