Service Robotics - Serbia | Statista Market Forecast

Revenue in the Service Robotics market is projected to reach US$11.44m in 2024.
Consumer service robotics dominates the market with a projected market volume of US$6.26m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.14%, resulting in a market volume of US$19.40m 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 Serbia is experiencing minimal growth due to factors such as limited awareness, low adoption of digital technologies, and lack of convenience in online services. This is evident in both commercial and consumer sub-markets. To drive growth, efforts must be made to increase awareness and improve the convenience of online services.

Customer preferences: As technology and automation continue to advance, there has been a significant increase in demand for service robotics in Serbia. Consumers are now seeking more efficient and convenient ways to complete tasks, leading to the adoption of robotic solutions in various industries such as healthcare, retail, and hospitality. This trend is further fueled by the aging population and the need for cost-effective and reliable assistance. Additionally, cultural values of efficiency and timeliness are driving the acceptance of service robots in the market.

Trends in the market: In Serbia, the Service robotics market is experiencing a rise in the adoption of advanced automation solutions, with industries such as manufacturing, healthcare, and logistics investing in robotics technology to increase efficiency and reduce costs. This trend is expected to continue due to the increasing demand for flexible and customizable solutions. Additionally, the integration of artificial intelligence and machine learning in service robots is enabling them to perform more complex tasks, further driving the market growth. These developments have significant implications for industry stakeholders, including increased productivity, improved safety, and cost savings.

Local special circumstances: In Serbia, the Service robotics market is seeing a rise due to the country's increasing focus on industrial automation and digitalization. The government's initiatives to attract foreign investments and improve the country's industrial sector are also driving the demand for service robotics. Additionally, the country's strategic location and favorable business environment make it an attractive market for service robotics companies. This unique combination of factors is expected to contribute to the growth of the Service robotics market in Serbia.

Underlying macroeconomic factors: The growth of the Service robotics market is greatly influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with favorable business environments and strong investment in robotics technologies are experiencing rapid market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in industries such as healthcare, manufacturing, and logistics is driving the adoption of service robotics, especially in countries with aging populations and a shortage of skilled labor.

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.