Service Robotics - Malawi | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$2.18m in 2024.
Commercial service robotics dominates the market with a projected market volume of US$1.35m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.20%, resulting in a market volume of US$2.44m 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 Malawi is experiencing subdued growth, potentially impacted by factors such as limited consumer awareness and infrastructure for digital technologies. However, with increasing health awareness and convenience offered by online services, the market may see significant growth in the future.

Customer preferences: With the rise of automation and the need for efficiency, there has been a growing demand for service robotics in Malawi. This trend is largely driven by the country's growing tech-savvy population, which is increasingly looking for automated solutions for tasks such as cleaning, delivery, and customer service. Additionally, the rise of e-commerce and online shopping has led to a need for automated warehouses and logistics solutions, further driving the demand for service robotics. This shift towards automation is also influenced by the country's young and tech-driven workforce, who are seeking more efficient and convenient ways of working.

Trends in the market: In Malawi, there is a growing demand for service robotics in industries such as healthcare, hospitality, and agriculture. This trend is driven by the need for automation and efficiency in these sectors. Additionally, there is an increasing emphasis on the use of artificial intelligence and machine learning in service robotics, allowing for more advanced and autonomous capabilities. These developments are significant for industry stakeholders as they offer opportunities for cost savings, improved productivity, and enhanced customer experiences. However, there may also be implications for job displacement and the need for upskilling of the workforce to adapt to this technological shift.

Local special circumstances: In Malawi, the Service robotics Market within the Robotics Market is still in its infancy due to limited access to technology and infrastructure. However, the government's focus on promoting technology and innovation is expected to drive market growth. Additionally, the country's agricultural and mining industries present opportunities for the use of service robots in tasks such as crop monitoring and mining operations. The cultural emphasis on community and the need for cost-effective solutions also play a role in shaping the market dynamics.

Underlying macroeconomic factors: The growth of the Service robotics market in Malawi is heavily impacted by macroeconomic factors such as technological advancements, government policies, and investment in infrastructure. The country's relatively stable economy and increasing focus on technology and automation are driving the demand for service robots in various industries. However, the market growth may be hindered by the country's limited access to funding and regulatory challenges. Additionally, the rising need for efficiency and cost-effectiveness in service industries is expected to further drive the demand for service robotics in Malawi.

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.