Robotics - Western Asia

Western Asia

Revenue in the Robotics market is projected to reach US$1,036.00m in 2024.
Service robotics dominates the market with a projected market volume of US$958.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 13.20%, resulting in a market volume of US$1,926.00m 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.

For more information on the data displayed, use the info button right next to the box.

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Analyst Opinion

The Robotics Market in Western Asia has been witnessing a sluggish growth rate, mainly influenced by factors such as slow adoption of digital technologies, limited awareness about robotics, and challenges in integrating robots into traditional industries. However, the potential for growth remains high, especially in the sub-markets of Industrial and Service robotics, as the region continues to invest in automation and modernization.

Customer preferences: As technology continues to advance, the Robotics Market market is seeing a growing demand for automation and artificial intelligence solutions. This is driven by the need for increased efficiency and productivity in various industries, as well as the desire for innovative and cutting-edge technology. Additionally, there is a shift towards more personalized and customized robotics solutions, catering to specific needs and preferences of businesses and consumers alike.

Trends in the market: In Western Asia, the Robotics Market is experiencing a surge in demand for collaborative robots, which are designed to work alongside humans in industrial settings. This trend is driven by the region's growing focus on automation and increasing adoption of Industry 4.0 technologies. As a result, there is a significant shift towards using robots for tasks that are repetitive, dangerous, or require precision. This trend is expected to continue, with the potential to revolutionize the region's manufacturing sector and boost productivity. Additionally, the rise of robotics is also leading to the creation of new job opportunities and reshaping the skills required in the workforce.

Local special circumstances: In Western Asia, the Robotics Market is heavily influenced by the region's strong focus on industrialization and technological advancements. The presence of major oil-producing countries has led to a high demand for automation solutions in the oil and gas industry. Additionally, the region's growing population and rising labor costs have also contributed to the adoption of robotics in various industries. However, cultural and religious norms, as well as government regulations, may pose challenges for the widespread implementation of robotics in certain sectors. For example, strict laws on human-robot interaction in the healthcare industry may hinder the growth of medical robotics in the region.

Underlying macroeconomic factors: The growth of the Robotics Market is also influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with strong government support and significant investment in robotics technologies are experiencing faster market growth compared to regions with limited government support and infrastructure. Additionally, the rising demand for automation in industries such as manufacturing, healthcare, and logistics is driving the growth of the Robotics Market in Western Asia.

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.