Service Robotics - Philippines | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$58.03m in 2024.
Consumer service robotics dominates the market with a projected market volume of US$33.63m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 29.03%, resulting in a market volume of US$207.50m 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 Philippines is driven by the increasing adoption of digital technologies and rising health awareness among consumers. Despite a minimal decline in growth rate, convenience offered by online health services is impacting the market.

Customer preferences: The rise of e-commerce and online shopping in the Philippines has also influenced the demand for service robotics in the market. With more consumers turning to online platforms for their shopping needs, there is a growing need for efficient and reliable automated systems to handle order fulfillment and delivery. This trend is further accelerated by the country's growing middle class and urbanization, as consumers seek convenience and faster delivery times for their purchases. As a result, service robotics is expected to play a significant role in streamlining and improving the overall online shopping experience for consumers in the Philippines.

Trends in the market: In the Philippines, the Service robotics Market within the Robotics Market is experiencing a surge in demand for automation solutions in industries such as manufacturing, healthcare, and retail. This trend is driven by the need for cost-efficiency, increased productivity, and improved quality control. As the country continues to invest in its manufacturing sector, the demand for service robots is expected to grow. This presents opportunities for industry stakeholders to tap into the market and offer innovative solutions to meet the evolving needs of businesses. Additionally, the government's initiatives to promote automation and digitalization in various sectors are expected to further drive the growth of the service robotics market in the Philippines.

Local special circumstances: In the Philippines, the Service robotics Market is heavily influenced by the country's strong presence in the business process outsourcing industry. This has led to a demand for automation and robotics solutions in various sectors such as manufacturing, healthcare, and logistics. Additionally, the country's unique geography, with over 7,000 islands, has created a need for specialized robots for maritime and disaster response operations. Furthermore, the government's efforts to promote the adoption of robotics and AI technologies through various initiatives and funding programs have also contributed to the growth of the market.

Underlying macroeconomic factors: The growth of the Service robotics market in the Philippines is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. With a rapidly developing economy and a strong focus on innovation, the Philippines is poised to experience significant growth in the service robotics sector. Additionally, the increasing demand for automation and the growing need for more efficient and cost-effective solutions in various industries are driving the adoption of service robotics in the country. The favorable business environment and government initiatives promoting the use of robotics in key sectors such as healthcare, logistics, and manufacturing are also contributing to the market's growth. Moreover, the rising labor costs and shortage of skilled workers in the Philippines are further boosting the demand for service robotics solutions to increase productivity and reduce operational costs.

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.