Service Robotics - United Kingdom

United Kingdom

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$0.83bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 16.87%, resulting in a market volume of US$2.50bn by 2028.
In global comparison, most revenue will be generated in the United States (US$9,067.00m in 2024).

Key regions: France, United Kingdom, United States, Canada, South Korea

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Analyst Opinion

The Service Robotics market in the United Kingdom is experiencing minimal growth, influenced by factors such as the steady adoption of digital technologies, growing health awareness among consumers, and the convenience of online health services. These factors are driving the overall growth of the market, particularly in the Commercial and Consumer sub-markets. However, challenges such as high costs and limited regulations are impacting the growth rate.

Customer preferences: The increasing demand for automation and efficiency in various industries has led to a growing interest in service robotics. Consumers are now seeking solutions that can assist with tasks such as cleaning, delivery, and customer service. This trend is driven by a desire for convenience and cost-effectiveness, as well as a shift towards contactless interactions in light of the COVID-19 pandemic. Additionally, with an aging population and a shortage of skilled labor, service robotics offer a solution to address these challenges.

Trends in the market: In the United Kingdom, the Service robotics market is experiencing a surge in demand for robotic solutions in the healthcare sector. This is driven by the aging population and the need for more efficient and cost-effective healthcare services. Additionally, there is a growing trend of using robotics in logistics and warehousing, with companies investing in automated solutions to improve efficiency. These trends are expected to continue, with potential implications for stakeholders including increased adoption of robotics, advancements in technology, and potential job displacement.

Local special circumstances: In the United Kingdom, the Service robotics market is heavily influenced by the country's aging population and the increasing demand for healthcare services. This has led to a growing emphasis on developing robotic solutions for rehabilitation, elderly care, and medical procedures. Additionally, the UK government's support for innovation and technology in healthcare has created a favorable environment for service robotics companies to thrive. However, strict regulations and high costs associated with implementing robotic technologies pose a challenge for market growth.

Underlying macroeconomic factors: The Service robotics Market within the Robotics Market in the United Kingdom is heavily impacted by macroeconomic factors such as technological advancements, government policies, and investment in research and development. With the UK's strong economy and favorable regulatory environment, the service robotics market is experiencing rapid growth compared to other regions. Additionally, the country's aging population and increasing demand for automation in various industries such as healthcare and manufacturing are driving the demand for service robotics, further contributing to the market growth.

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.