Service Robotics - MENA

  • MENA
  • Revenue in the Service Robotics market is projected to reach US$1.34bn in 2024.
  • Commercial service robotics dominates the market with a projected market volume of US$0.92bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.64%, resulting in a market volume of US$2.43bn 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 MENA is witnessing modest growth due to factors such as increasing demand for automation in various industries, rising need for cost-effective solutions, and advancements in technology. However, the market's growth rate is slightly declining due to the impact of the COVID-19 pandemic and the slow adoption of robotics in the region.

Customer preferences:
With the increasing adoption of smart home technology in the MENA region, consumers are also showing a growing interest in service robotics for household chores and assistance. This can be attributed to the region's strong cultural emphasis on hospitality and the desire for convenient and efficient solutions. Furthermore, the aging population in the region is driving the demand for service robots for elderly care, as families seek to provide better care for their aging loved ones. This trend is expected to continue as the region experiences demographic shifts towards an older population.

Trends in the market:
In MENA, the Service robotics Market is seeing a significant demand for autonomous robots in industries such as healthcare, retail, and logistics. These robots are equipped with advanced sensors and artificial intelligence, enabling them to perform tasks efficiently and accurately. Additionally, there is a growing trend of using robots for disinfection and sanitation in response to the COVID-19 pandemic. This trend is expected to continue, driven by the need for contactless and efficient solutions in various sectors. As a result, industry stakeholders can expect to see an increase in investments and partnerships in the development and deployment of service robots in the region.

Local special circumstances:
In the MENA region, the Service robotics market is experiencing growth due to the increasing adoption of automation and technological advancements. However, the market is also influenced by unique factors such as strict regulations on labor and immigration, as well as cultural preferences for human interaction in certain service industries. These factors impact the demand for service robotics, with a focus on solutions that complement human workers rather than replacing them entirely. Additionally, the region's diverse geography and varying levels of economic development also play a role in shaping the market dynamics.

Underlying macroeconomic factors:
The Service robotics Market within the Robotics Market is significantly impacted by macroeconomic factors such as technological advancements, government regulations, and investment in research and development. Countries with favorable economic conditions and strong government support for the robotics industry are experiencing higher market growth compared to regions with economic challenges and limited investment in robotic technologies. Moreover, the increasing demand for automation and efficiency in various industries, coupled with the rising labor costs, is driving the adoption of service robotics, especially in the MENA region.

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.

Overview

  • Revenue
  • Volume
  • Price
  • Analyst Opinion
  • Global Comparison
  • Methodology
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