Robotics - Zimbabwe

Zimbabwe

Revenue in the Robotics market is projected to reach US$4.19m in 2024.
Service robotics dominates the market with a projected market volume of US$4.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.71%, resulting in a market volume of US$7.62m 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

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Analyst Opinion

The Robotics market in Zimbabwe is facing a mild decline in growth rate, influenced by factors such as limited technological advancements, low healthcare awareness, and lack of government support. However, the potential for growth lies in the sub-markets of Industrial and Service robotics, driven by the need for automation and cost-effective solutions in various industries. The country's market has the potential for growth with the right investments and support from the government.

Customer preferences: The demand for robotics in Zimbabwe is on the rise, driven by a growing interest in automation and advanced technologies. As the country continues to modernize and develop, there is a strong focus on increasing efficiency and productivity in various industries. This has led to a shift towards robotics in manufacturing, agriculture, and healthcare, as businesses seek to streamline processes and reduce costs. Additionally, with a young and tech-savvy population, there is a growing interest in robotics education and training, highlighting a potential future workforce in this field.

Trends in the market: In Zimbabwe, the Robotics Market is seeing a surge in the adoption of automation and robotics technologies across various industries such as manufacturing, agriculture, and healthcare. This trend is driven by the country's efforts to modernize and increase productivity and efficiency. With the government's focus on promoting a knowledge-based economy, there is a growing demand for skilled workers in the robotics sector. This trend is expected to continue, with the potential to transform the country's economy and create new job opportunities in the robotics industry. Additionally, the increasing use of robotics is set to drive down production costs and enhance the quality of goods and services, making Zimbabwe more competitive in the global market.

Local special circumstances: In Zimbabwe, the robotics market is still in its nascent stage due to limited technological infrastructure and a slow adoption rate of automation. However, the country's growing manufacturing sector and government initiatives to promote innovation are expected to drive the market growth. Additionally, Zimbabwe's unique cultural and regulatory landscape, including its high unemployment rate and strict labor laws, may impact the demand for robotics and the development of local robotics companies.

Underlying macroeconomic factors: The growth of the Robotics Market market is also influenced by macroeconomic factors such as technological advancements, government support, and investment in manufacturing 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 manufacturing funding. Additionally, the increasing demand for automation and the need for increased efficiency in industries such as healthcare, manufacturing, and agriculture are driving the demand for robotics solutions.

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.