Robotics - Uruguay

Uruguay

Revenue in the Robotics market is projected to reach US$7.40m in 2024.
Service robotics dominates the market with a projected market volume of US$6.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.19%, resulting in a market volume of US$8.66m 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

Region

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Analyst Opinion

The Uruguayan Robotics market is experiencing a steady growth rate, influenced by factors such as increasing technological advancements, rising demand for automation in industries, and the convenience offered by service robotics. Despite a minimal decline, the market is expected to continue growing due to the country's emerging economy and supportive government initiatives.

Customer preferences: One notable trend in the Robotics Market market in Uruguay is the increasing adoption of automation and artificial intelligence technologies in industries such as manufacturing, healthcare, and agriculture. This is driven by the country's aging population and the need for more efficient and precise processes. Additionally, the growing awareness and acceptance of these technologies among consumers have also led to an increase in demand for robotics products and services. Furthermore, the emergence of startups and innovative companies in this space is also contributing to the growth of the market.

Trends in the market: In Uruguay, the Robotics Market is experiencing a shift towards automation and artificial intelligence, as companies look for ways to streamline processes and reduce costs. This trend is expected to continue as more businesses adopt robotics technology in various industries, such as manufacturing, healthcare, and logistics. This shift towards automation is significant for industry stakeholders as it can lead to increased efficiency, improved quality control, and reduced labor costs. However, it may also have implications for the workforce, as some jobs may become automated, requiring reskilling and upskilling for employees. Overall, the trajectory of this trend is towards greater integration of robotics technology in various sectors, making it a crucial area for businesses to stay competitive.

Local special circumstances: In Uruguay, the Robotics Market is experiencing growth due to the country's strategic location and favorable business environment. The government has implemented policies to promote the adoption of automation and robotics in various industries, such as manufacturing and agriculture. Additionally, the country's highly skilled workforce and strong educational system have contributed to the development of the robotics industry. However, challenges such as limited access to funding and high import taxes for technology products have hindered the growth of the market.

Underlying macroeconomic factors: The Robotics Market in Uruguay is heavily influenced by macroeconomic factors such as technological advancements, government policies, and economic stability. The country has been investing in developing its technological infrastructure, which has led to a significant increase in the adoption of robotics technology. Additionally, Uruguay's favorable regulatory environment and government support for innovation have created a conducive market for robotics companies. The country's growing economy and stable political climate have also contributed to the growth of the robotics market, attracting foreign investments and fostering a competitive market landscape. Furthermore, the increasing demand for automation in various industries, coupled with the country's skilled workforce, presents opportunities for the growth of the robotics market in Uruguay.

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.