Robotics - Spain

Spain

Revenue in the Robotics market is projected to reach US$0.68bn in 2024.
Service robotics dominates the market with a projected market volume of US$0.49bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.00%, resulting in a market volume of US$0.91bn 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 Spain has seen moderate growth, with factors such as rising demand for automation in industries and increasing use of robots in service sectors driving this trend. However, the overall market growth rate has been impacted by minimal decline due to factors such as economic uncertainties and high initial costs associated with robotics adoption.

Customer preferences: The rise of automation in the Spanish market has sparked a growing interest in robotics, particularly in industries such as manufacturing, healthcare, and agriculture. This trend is driven by a combination of factors, including an aging population, a shortage of skilled labor, and a growing demand for efficiency and precision in production processes. As a result, there is an increasing focus on the development of advanced robotic technologies that can address these challenges and improve overall productivity.

Trends in the market: In Spain, the Robotics Market is experiencing a surge in the adoption of collaborative robots, also known as cobots. These robots are designed to work alongside humans, increasing efficiency and safety in various industries such as manufacturing and healthcare. With the rise of Industry 4.0, there is a growing trend towards the integration of artificial intelligence and machine learning in robotics, making them more autonomous and adaptable to changing environments. This trend is significant as it allows for increased productivity and cost savings for businesses. However, it also raises concerns about potential job displacement and the need for upskilling workers to work alongside robots. As the Robotics Market continues to evolve, stakeholders must monitor these trends and adapt their strategies to stay competitive in the market.

Local special circumstances: In Spain, the Robotics Market is experiencing growth due to the government's initiatives to promote innovation and automation in industries such as manufacturing, logistics, and healthcare. The country's strong focus on research and development, combined with its highly skilled workforce, creates a favorable environment for robotics companies. Additionally, Spain's strategic location in Europe makes it a hub for international trade and investment, further driving the demand for robotics solutions. However, the market is also impacted by the country's cultural emphasis on work-life balance, leading to a slower adoption of robotics in certain industries.

Underlying macroeconomic factors: The Robotics Market in Spain is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in automation infrastructure. Countries with favorable business environments and robust investment in robotics and automation technologies are experiencing rapid market growth compared to regions with economic challenges and limited funding. Furthermore, the increasing demand for efficient and cost-effective solutions in industries such as manufacturing, healthcare, and agriculture is driving the growth of the Robotics Market in Spain.

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.