Robotics - South Africa

South Africa

Revenue in the Robotics market is projected to reach US$124.20m in 2024.
Service robotics dominates the market with a projected market volume of US$97.48m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.57%, resulting in a market volume of US$127.80m by 2029.
In global comparison, most revenue will be generated in the United States (US$9,421.00m in 2024).

Key regions: United States, China, South Korea, Japan, Germany

Definition:

The Robotics market refers to the industry that encompasses the design, development, manufacturing, and deployment of robotic systems and technologies. It involves the creation of machines that perform tasks autonomously or with minimal human intervention. These machines, also known as robots, mimic human actions and/or perform specialized functions in various sectors. These sectors include manufacturing, healthcare, agriculture, logistics, defense, and entertainment.

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 Robotics market shows the market size of robotics in industrial and service use cases. In Industrial Robotics, there are six distinct markets:

The Automotive Industry Robotics market
The Chemical Industry Robotics market
The Electric/Electronic Industry Robotics market
The Food Industry Robotics market
The Metal Industry Robotics market
The Other Industry Robotics market

Service Robotics is further split into:

The Commercial Service Robotics market, which contains the Agriculture, Logistics, Medical and Other Service Robotics markets
The Consumer Service Robotics market, which contains the Domestic and Entertainment Robotics markets

Additional information:

Data includes revenues, volume, and the average price per newly installed robot. It also examines the level of automation, the share of collaborative robots, and investment in robotics, as well as a list of the key players in the market and their consolidated revenues. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Industrial Robotics does not include software revenues, as industrial robots are mostly used with specific software solutions that belong to the company that deploys them. For Service Robotics, software revenues are considered, as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Kuka, ABB, Boston Dynamics, and Yaskawa Electric Corporation.

For more information on the data displayed, use the info button right next to the box.

Market

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Analyst Opinion

The Robotics Market in South Africa has experienced minimal growth due to factors such as limited adoption of digital technologies, lack of awareness among consumers, and challenges in implementing online services. However, the market is expected to grow as more emphasis is placed on industrial and service robotics to increase efficiency and productivity in various industries.

Customer preferences: The growing adoption of automation and artificial intelligence technologies in the Robotics Market industry is driven by the need for increased efficiency and cost-effectiveness. This trend is further supported by a shift towards remote work and virtual collaboration, as well as the desire for contactless solutions in light of the COVID-19 pandemic. Additionally, there is a growing demand for robots that can perform tasks in hazardous or challenging environments, enhancing workplace safety and reducing human risk.

Trends in the market: In South Africa, the Robotics Market is experiencing a surge in demand for industrial robots, with a focus on automation and efficiency in manufacturing processes. This trend is driven by the country's growing manufacturing sector and the need for cost-effective solutions. Additionally, there is a rising interest in collaborative robots, as they offer a safer and more flexible option for human-robot interaction. As this trend continues, it is expected to drive innovation and investment in the robotics industry, leading to increased competition and potential partnerships between local and international players. This could also have implications for job displacement and the need for upskilling in the workforce to adapt to the changing landscape of the industry.

Local special circumstances: In South Africa, the Robotics Market is strongly influenced by the country's growing tech industry and government initiatives promoting innovation and automation. This has led to a rise in local startups and partnerships between established companies and robotics firms. Additionally, the country's diverse landscape and infrastructure challenges have created a demand for robotics solutions in mining, agriculture, and transportation industries. The market's growth is also driven by South Africa's commitment to sustainability and reducing labor costs through automation.

Underlying macroeconomic factors: The Robotics Market in South Africa is heavily impacted by macroeconomic factors, such as technological advancements, government policies, and economic stability. As a developing country, South Africa has been investing in robotics technology to improve productivity and reduce labor costs. However, the market growth is also influenced by global economic trends, as well as the country's national economic health and fiscal policies. In recent years, the country has been facing economic challenges, which have affected business investments and consumer spending. This has had a direct impact on the demand for robotics solutions, as companies are more cautious with their budgets and consumers have less disposable income. However, with the government's focus on promoting innovation and industry diversification, the Robotics Market is expected to experience steady growth in the coming years.

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.