Robotics - Vietnam

Vietnam

Highlights

Market definition

In-Scope/Out-of-scope

Market structure

Reports

Methodology

Revenue in the Robotics market is projected to reach US$339.05m in 2025.
Industrial robotics dominates the market with a projected market volume of US$239.32m in 2025.
Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 7.28%, resulting in a market volume of US$449.01m by 2029.
In global comparison, most revenue will be generated United States (US$10.45bn in 2025).

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Aug 2024

Source: Statista Market Insights

Revenue Change

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Aug 2024

Source: Statista Market Insights

Comparable Estimates - Robotics (Worldwide)

Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

Most recent update: Mar 2024

Revenue industry share

Most recent update: Mar 2024

Source: Statista Market Insights

Robotics Investment

Most recent update: Mar 2024

Source: Statista Market Insights

Analyst Opinion

The Robotics market in Vietnam is witnessing significant growth, driven by factors such as increasing adoption of automation, rising demand for efficient manufacturing processes, and the convenience offered by service robots. The unknown growth rate is impacted by the country's focus on developing its industrial and service sectors and government initiatives to promote the use of robotics technology.

Customer preferences: With the rise of automation and advanced technology in Vietnam, consumers are showing a growing interest in robotics solutions for various tasks and industries. This trend is driven by the need for efficiency, accuracy, and cost savings. Additionally, the increasing adoption of smart homes and smart cities is pushing the demand for robotics in the consumer market. As Vietnamese society becomes more tech-savvy, there is a growing acceptance and trust in robotics as a reliable and convenient tool for daily life.

Trends in the market: In Vietnam, the Robotics Market is experiencing a surge in demand for automated solutions in industries such as manufacturing, logistics, and healthcare. This trend is expected to continue as the country aims to increase its competitiveness in the global market. Additionally, there is a growing focus on developing local talent and promoting research and development in the robotics industry. This presents opportunities for industry stakeholders to tap into the country's potential and contribute to its economic growth. However, there may also be implications for traditional labor sectors, as the adoption of robotics could potentially lead to job displacement. As such, it is crucial for stakeholders to carefully manage this transition to ensure sustainable development for both the industry and the workforce.

Local special circumstances: In Vietnam, the Robotics Market is experiencing significant growth due to the government's focus on developing the country's technology and manufacturing sectors. The country's strategic location and low labor costs make it an attractive destination for foreign investors. Additionally, the increasing demand for automation in industries such as manufacturing, healthcare, and agriculture is driving the growth of the Robotics Market in Vietnam. Moreover, the country's cultural emphasis on education and innovation is creating a skilled workforce capable of driving the development and adoption of advanced robotics technology.

Underlying macroeconomic factors: The Robotics Market in Vietnam is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in industrial infrastructure. Countries with favorable regulatory environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding for industrial development. Furthermore, the increasing demand for automation and efficiency in manufacturing processes, along with the rising labor costs in Vietnam, are driving the adoption of robotics solutions in various industries.

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.

Explore more high-quality data on related topic

Industrial robots worldwide - statistics & facts

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.