Robotics - Taiwan | Statista Market Forecast

Revenue in the Robotics market is projected to reach US$297.40m in 2024.
Service robotics dominates the market with a projected market volume of US$226.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 15.82%, resulting in a market volume of US$619.90m by 2029.
In global comparison, most revenue will be generated United States (US$9.42bn in 2024).

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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Industrial Robotics
Service Robotics

robots not programmable in two or more axes
robots with no degree of autonomy

The Robotics market in Taiwan is witnessing steady growth due to factors such as increasing industrial automation, rising demand for advanced healthcare services, and government initiatives promoting the adoption of robotics. However, the market's growth rate is minimal due to challenges such as high initial investment costs and shortage of skilled labor.

Customer preferences: As Taiwan continues to embrace automation and technology, the market for robotics is experiencing significant growth. Consumers are increasingly looking for smarter and more efficient solutions for household chores and industrial tasks. This trend is driven by a desire for convenience and cost-effectiveness, as well as a growing interest in sustainable and eco-friendly options. Additionally, with a rapidly aging population, there is a growing demand for robotic assistance in healthcare and eldercare, highlighting the need for innovative and personalized solutions in the robotics market.

Trends in the market: In Taiwan, the Robotics Market is experiencing a surge in demand for collaborative robots (cobots) due to their ability to work alongside human workers, increasing efficiency and reducing costs. This trend is expected to continue, with projections of a 41.8% CAGR in the cobot market from 2019-2024. This shift towards cobots highlights the importance of human-robot collaboration and the potential for increased adoption of automation in various industries. Additionally, the rise of smart factories and Industry 4.0 initiatives in Taiwan is driving the demand for advanced robotics technology, creating opportunities for industry stakeholders to innovate and capitalize on this trend.

Local special circumstances: In Taiwan, the Robotics Market is experiencing rapid growth due to the country's advanced technology landscape and government support for robotic research and development. The market is also influenced by the country's aging population and high labor costs, leading to a demand for robotic solutions in industries such as healthcare and manufacturing. Additionally, Taiwan's cultural emphasis on precision and efficiency has driven the adoption of robotic automation in various sectors, providing a competitive advantage for local businesses. The country's strong regulatory framework and intellectual property protection further contribute to the growth of the Robotics Market in Taiwan.

Underlying macroeconomic factors: The Robotics Market in Taiwan is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in research and development. Taiwan is known for its advanced technology and has a strong focus on developing and implementing robotics solutions. The country's stable economic health and government support for innovation have created a favorable environment for the growth of the Robotics Market. Additionally, the increasing demand for automation and the need to improve efficiency in various industries, such as manufacturing and healthcare, are expected to drive the market growth. Furthermore, the aging population in Taiwan is also a significant factor contributing to the demand for robotics solutions, particularly in the healthcare sector, to address the labor shortage and improve healthcare services. Overall, Taiwan's strong economic foundation and favorable business environment make it a promising market for the Robotics industry.

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.