Robotics - Western Asia

Western Asia

Revenue in the Robotics market is projected to reach US$641.20m in 2024.
Service robotics dominates the market with a projected market volume of US$554.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.52%, resulting in a market volume of US$736.50m by 2028.
In global comparison, most revenue will be generated in the United States (US$9,716.00m 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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Analyst Opinion

The Robotics Market in Western Asia is experiencing minimal growth due to factors such as slow adoption of digital technologies, low awareness of benefits among consumers, and limited convenience of online services. This is particularly evident in the sub-markets of Industrial and Service robotics. However, with the increasing demand for automation and advancements in technology, the market is expected to see a significant rise in the coming years.

Customer preferences: The rise of automation and advancements in artificial intelligence have led to a growing demand for sophisticated robotics solutions in the Western Asian market. Consumers are increasingly seeking automated and efficient methods to streamline processes and reduce manual labor, leading to a surge in demand for industrial robots and automated systems. Furthermore, the shift towards smart manufacturing and Industry 4.0 has also contributed to the growth of the robotics market in this region. This trend is expected to continue as companies and industries prioritize efficiency and cost-effectiveness in their operations.

Trends in the market: In Western Asia, the Robotics Market is experiencing a shift towards automation and artificial intelligence in various industries. This is driven by the growing demand for efficient and cost-effective solutions, as well as the need to reduce labor costs. This trend is expected to continue in the coming years, with increasing adoption of robotics in manufacturing, agriculture, healthcare, and other sectors. This has significant implications for industry stakeholders, as it could lead to increased productivity and competitiveness. However, it also raises concerns about potential job displacement and the need for upskilling and retraining of workers in the region.

Local special circumstances: In Western Asia, the Robotics Market is heavily influenced by the region's booming oil and gas industry, with a growing demand for automation and robotics in these sectors. Additionally, the region's strong focus on technological advancements and government support for innovation has created a conducive environment for the growth of the robotics market. Furthermore, the region's increasing adoption of smart manufacturing and industrial automation has also contributed to the growth of the robotics market in Western Asia.

Underlying macroeconomic factors: The Robotics Market in Western Asia is shaped by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with strong economies and favorable regulatory environments have seen significant growth in the robotics market, as they are able to invest in advanced robotics technologies. Additionally, the demand for robotics in industries such as manufacturing, healthcare, and agriculture is rising due to the aging population and the need for increased efficiency. However, countries with economic challenges and limited investment in R&D may face slower growth in the robotics market.

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.