Robotics - Sri Lanka

Sri Lanka

Revenue in the Robotics market is projected to reach US$11.46m in 2025.
Service robotics dominates the market with a projected market volume of US$10.71m in 2025.
Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 15.12%, resulting in a market volume of US$20.13m by 2029.
In global comparison, most revenue will be generated in the United States (US$10,450.00m in 2025).

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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Analyst Opinion

The Robotics market in Sri Lanka has been steadily growing, driven by factors such as increasing industrial automation and demand for efficient service robots. However, the market has faced challenges due to minimal decline in growth rate, possibly influenced by economic and political factors.

Customer preferences: With the rapid advancements in technology and increasing focus on efficiency and precision, the Robotics Market in Sri Lanka has witnessed a significant rise in demand for automation solutions. This can be attributed to the growing preference for cost-effective and time-saving methods of production, as well as the need for social distancing and reduced human contact in the wake of the COVID-19 pandemic. Additionally, with the rise in e-commerce and logistics industries, there is a growing need for automated warehouse and delivery systems, further driving the adoption of robotics in the country.

Trends in the market: In Sri Lanka, the Robotics Market is experiencing a surge in demand for automation solutions in manufacturing industries, driven by the need for increased efficiency and cost savings. Additionally, there is a growing trend of using robotics in agriculture, with farmers adopting automated systems for tasks like harvesting and crop monitoring. This trend is significant as it allows for greater productivity and reduced labor costs. It also has potential implications for industry stakeholders, as it may lead to job displacement and the need for upskilling and reskilling of the workforce to adapt to the changing job market.

Local special circumstances: In Sri Lanka, the Robotics Market is rapidly growing due to the country's focus on technological advancement and government initiatives to promote innovation. With a highly skilled workforce and a favorable regulatory environment, the country has become a hub for robotics research and development. Additionally, the island nation's strategic location and strong partnerships with neighboring countries make it an ideal market for robotics companies to expand their operations. The market is also influenced by the country's cultural acceptance of technology and its growing awareness of the benefits of automation in various industries.

Underlying macroeconomic factors: The Robotics Market in Sri Lanka is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. Countries with stable economies and favorable regulatory environments are experiencing faster market growth compared to regions with economic challenges and limited government support. Additionally, the increasing demand for automation in industries such as manufacturing and healthcare, as well as the growing need for advanced technology solutions, are driving the growth of the Robotics Market in Sri Lanka.

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.