Commercial Service Robotics - India

  • India
  • Revenue in the Commercial Service Robotics market is projected to reach €120.70m in 2024.
  • Medical service robotics dominates the market with a projected market volume of €47.18m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.82%, resulting in a market volume of €110.10m by 2029.
  • In global comparison, most revenue will be generated in the United States (€4,630.00m in 2024).

Key regions: Italy, Japan, France, United States, China

 
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Analyst Opinion

The Commercial service robotics market in India is experiencing rapid growth due to the increasing adoption of digital technologies, growing awareness about the benefits of service robotics, and the convenience offered by online services. The market's growth rate is currently impacted by various factors such as economic slowdown, supply chain disruptions, and labor shortages. However, the market is expected to recover and continue its upward trend with the demand for service robotics in agriculture, logistics, medical, and other industries.

Customer preferences:
With the rise of e-commerce and online shopping, consumers in India are increasingly adopting robotic solutions for last-mile delivery and logistics. This trend is driven by the need for contactless delivery options and the growing demand for faster and more efficient delivery services. Furthermore, the increasing penetration of smartphones and internet connectivity in rural areas is also contributing to the growth of the commercial service robotics market in India. This shift towards automation and digitization is expected to continue in the coming years, as consumers prioritize convenience and safety in their purchasing decisions.

Trends in the market:
In India, the Commercial service robotics Market of the Service robotics Market within the Robotics Market is experiencing a surge in demand for automation solutions in industries such as logistics, healthcare, and retail. This is driven by the increasing need for efficiency and cost-effectiveness in operations. Additionally, the rise of artificial intelligence and machine learning is leading to the development of more advanced and versatile service robots. These trends are expected to continue in the coming years, presenting opportunities for industry stakeholders to expand their offerings and cater to a wider range of applications.

Local special circumstances:
In India, the Commercial service robotics market is rapidly growing due to the country's increasing focus on automation and digitalization. The government's initiatives to promote the use of robots in various industries, such as manufacturing and healthcare, have resulted in a surge in demand for service robots. Additionally, the country's large population and growing economy make it an attractive market for service robotics companies. However, the lack of advanced infrastructure and skilled labor can be a challenge for market players. In contrast, the Commercial service robotics market in Japan is driven by the country's aging population and high labor costs, leading to a growing demand for robots in industries such as healthcare and retail. The cultural acceptance of robots in daily life also contributes to the market's growth in Japan.

Underlying macroeconomic factors:
The growth of the Commercial service robotics market is heavily influenced 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 challenges and limited funding. Additionally, the increasing automation and digitization in industries such as manufacturing, healthcare, and retail are driving the demand for service robotics to improve efficiency and productivity.

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.

Vue d’ensemble

  • Revenue
  • Key Players
  • Volume
  • Price
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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