Robotics - Southeast Asia

Southeast Asia

Revenue in the Robotics market is projected to reach US$1.34bn in 2024.
Service robotics dominates the market with a projected market volume of US$0.73bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.61%, resulting in a market volume of US$2.12bn 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 Southeast Asia is witnessing significant growth, driven by factors such as increasing adoption of automation technologies, rising demand for efficient production processes, and the convenience offered by service robots. However, the market's growth rate is subdued due to factors such as high initial costs and lack of skilled labor.

Customer preferences: The rise of automation and increasing demand for efficient and cost-effective solutions has fueled the adoption of robotics in Southeast Asia. With the region's growing population and urbanization, there is a greater need for automated processes in manufacturing, healthcare, and logistics. Additionally, as consumers become more tech-savvy, there is a growing preference for smart homes and AI-powered devices, indicating a shift towards a more digitally-driven lifestyle. This trend is expected to continue as Southeast Asian economies continue to develop and embrace technology.

Trends in the market: In Southeast Asia, the Robotics Market is experiencing a surge in the adoption of automation and robotics technology across various industries. This trend is driven by the region's growing demand for efficiency, productivity, and cost-effectiveness. Additionally, there is a rising focus on using robotics in hazardous and labor-intensive environments. This trend has significant implications for industry stakeholders, as it leads to increased competitiveness, reduced labor costs, and improved safety standards. Furthermore, with the advancements in artificial intelligence and machine learning, the trajectory of this trend is expected to continue, with robotics becoming more sophisticated and integrated into various sectors, such as manufacturing, healthcare, and logistics. This will further drive the demand for robotics products and services in Southeast Asia.

Local special circumstances: In Vietnam, the Robotics Market is experiencing rapid growth due to the government's efforts to promote automation and advanced manufacturing. The country's favorable investment policies and low labor costs have attracted global players to set up their production facilities, leading to an increase in demand for robotics solutions. Additionally, the country's strong electronics and automotive industries have created a conducive environment for the adoption of robotics, further driving market growth.

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 automation 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 automation. Additionally, the increasing demand for efficient and cost-effective solutions in manufacturing and logistics industries is driving the adoption of robotics in Southeast 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.