Robotics - South America

South America

Revenue in the Robotics market is projected to reach US$783.20m in 2024.
Service robotics dominates the market with a projected market volume of US$675.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.66%, resulting in a market volume of US$850.30m 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.

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Market

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Analyst Opinion

The Robotics Market in South America is facing a slight decline in growth rate due to factors such as limited government initiatives, lack of skilled labor, and high initial costs. However, the demand for both industrial and service robotics is expected to increase in the region due to the growing need for automation in various industries and the potential for cost savings. Additionally, the increasing focus on technological advancements and the rising demand for efficient and reliable robots are also driving the market growth in South America.

Customer preferences: One emerging trend in the Robotics Market market in South America is the increasing demand for automated solutions in various industries. This is driven by the region's growing adoption of technology and automation, as well as the need for more efficient and cost-effective processes. Additionally, there is a growing preference for robots that can perform advanced tasks and work alongside human workers, rather than replacing them entirely. This shift towards collaborative robotics reflects a cultural value of human-machine coexistence and a desire for flexible and adaptable solutions.

Trends in the market: In South America, the Robotics Market is experiencing a surge in demand for collaborative robots, also known as cobots, which work alongside humans and increase efficiency in manufacturing processes. This trend is driven by the region's growing manufacturing industry and the need for cost-effective automation solutions. Additionally, there is a rising adoption of smart robots in the healthcare sector, enabling healthcare providers to deliver more accurate and personalized care. These trends signify the increasing role of robotics in various industries and have significant implications for stakeholders, including improved productivity, reduced costs, and enhanced safety.

Local special circumstances: In South America, the Robotics market is heavily influenced by the region's strong manufacturing industry, particularly in Brazil and Mexico. The demand for automation and efficiency in production has led to a growing adoption of robotics technology, driving the market's growth. Additionally, the region's unique regulatory environment, with varying levels of government support and incentives for robotics development, also plays a significant role in shaping the market. Cultural factors, such as the region's strong focus on innovation and technological advancement, further contribute to the growth of the Robotics market in South America.

Underlying macroeconomic factors: The Robotics Market in South America is strongly influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and robust investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Furthermore, the rising demand for automation and efficiency in industries, coupled with the increasing adoption of robotics in various sectors, is driving the growth of the market in South America.

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.