Robotics - Russia

Russia

Revenue in the Robotics market is projected to reach US$393.40m in 2024.
Service robotics dominates the market with a projected market volume of US$354.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.95%, resulting in a market volume of US$723.30m 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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Analyst Opinion

The Robotics Market in Russia is facing a negligible decline in growth rate, impacted by factors such as slow adoption of digital technologies, lack of health awareness among consumers, and limited convenience offered by online services.

Customer preferences: With the rise of automation and artificial intelligence in the robotics market, consumers are becoming more interested in advanced technologies that can simplify and enhance their daily lives. This has led to a growing demand for smart home devices, such as robotic vacuums and voice-controlled assistants. Additionally, the use of robotics in industries such as healthcare and manufacturing is gaining traction, driven by the need for more efficient and accurate processes. This trend towards automation and technology integration is expected to continue to shape the robotics market in Russia.

Trends in the market: In Russia, the Robotics Market is experiencing a surge in demand for industrial robots, as companies look to automate their manufacturing processes and increase efficiency. This trend is expected to continue in the coming years, with a projected growth rate of 10% annually. Additionally, there is a growing interest in service robots for various industries, such as healthcare and retail. These developments are significant for industry stakeholders as they offer opportunities for cost savings and increased productivity. However, there may also be implications for the workforce, as the adoption of robots could lead to job displacement. As such, it will be crucial for companies to carefully consider the impact on their employees and implement strategies to mitigate any potential negative effects.

Local special circumstances: In Russia, the Robotics Market is experiencing growth due to the country's focus on modernization and automation in various industries. The government has also implemented policies to promote the use of robotics in manufacturing processes. Additionally, the country's vast land mass and harsh weather conditions have created a demand for robots in agriculture and construction. This unique combination of factors has contributed to the market's growth and is expected to continue driving its expansion in the future.

Underlying macroeconomic factors: The Robotics Market in Russia is greatly impacted by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with favorable regulatory environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory barriers and limited funding for innovation. Moreover, the growing demand for automation and efficient production processes, as well as the rising labor costs, are driving the adoption of robotics in various industries in Russia.

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.