Robotics - Thailand

  • Thailand
  • Revenue in the Robotics market is projected to reach US$152.80m in 2024.
  • Service robotics dominates the market with a projected market volume of US$92.34m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.30%, resulting in a market volume of US$207.40m 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

 
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Analyst Opinion

The Robotics Market in Thailand is experiencing slow growth, influenced by factors such as limited adoption of digital technologies, low health awareness among consumers, and the lack of convenience in online services. This is particularly evident in the sub-markets of Industrial and Service robotics. The overall growth rate is negligible due to these factors.

Customer preferences:
Consumers in Thailand are increasingly looking for solutions that incorporate advanced robotics technology in their daily lives. This has led to a growing demand for smart home devices and robots that can assist with household chores and daily tasks. Additionally, the rise in e-commerce and online shopping has also sparked interest in robotic delivery services, providing convenience and efficiency for busy consumers. The cultural value of harmony and respect for elders also plays a role in the adoption of robotics for eldercare, as it allows for improved care and support for the aging population.

Trends in the market:
In Thailand, the Robotics Market is experiencing a surge in demand for automation and artificial intelligence technologies. This trend is driven by the country's goal to become a regional hub for advanced manufacturing, as well as the need to address labor shortages and increasing labor costs. This trajectory is significant as it not only boosts productivity and efficiency, but also opens up new opportunities for industry players to expand their market share. However, there are potential implications for stakeholders, such as the need for upskilling and reskilling of the workforce to adapt to the changing job landscape. Additionally, there may be concerns about job displacement and the ethical implications of using advanced technologies in the workplace. As such, it is crucial for industry stakeholders to closely monitor and adapt to these trends to stay competitive in the rapidly evolving Robotics Market in Thailand.

Local special circumstances:
In Thailand, the Robotics Market is experiencing significant growth due to the country's strategic location as a manufacturing hub and its government's push for Industry 4.0 initiatives. The market is also influenced by the local cultural emphasis on innovation and the country's favorable regulatory environment for robotics companies. Additionally, Thailand's growing aging population and increasing labor costs have also contributed to the adoption of robotics solutions in various industries, such as manufacturing, healthcare, and agriculture.

Underlying macroeconomic factors:
The Robotics Market in Thailand is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with favorable business environments and strong investment in robotics technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the rise of Industry 4.0 and the increasing demand for automation in various industries are driving the growth of the Robotics Market in Thailand.

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.

Overview

  • Revenue
  • Key Players
  • Volume
  • Collaborative Robots
  • Price
  • Autonomous mobile robots
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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