Robotics - Mexico

Mexico

in Mexico, a country with a rich history and vibrant culture, is expected to witness a significant growth in the Robotics market.
In 2024, the projected revenue for this market segment is estimated to reach US$497.00m.
Among the various sub-segments, Service robotics is expected to dominate, with a projected market volume of US$292.80m in the same year.
Furthermore, the revenue in the Robotics market is anticipated to exhibit a steady annual growth rate (CAGR 2024-2028) of -0.32%.
This growth trajectory is expected to result in a market volume of US$490.60m by the year 2028.
When comparing Mexico's revenue in the Robotics market to other countries globally, it is worth noting that in the United States is expected to generate the highest revenue.
In 2024, the projected revenue for the United States is estimated to be a staggering US$7,846.00m.
This signifies the dominant position of the United States in the global Robotics market.
As in Mexico continues to develop and invest in the Robotics market, it is poised to make significant contributions to the overall growth and development of this market segment.
The projected revenue and market volumes demonstrate the potential for Mexico to become a key player in the Robotics market industry.
Mexico is experiencing a surge in the adoption of robotics in industries such as automotive manufacturing, agriculture, and healthcare.

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 is shaped by various trends, e.g., the Industrial Internet of Things, mobile autonomous robots, collaborative robots, and/or open-source software. In addition, trending topics such as 5G, edge computing, and smart mobility influence the market.

Especially artificial intelligence (AI) is boosting further innovation in the field of automation. AI in robotics is becoming more sophisticated, and the use of self-learning robots are becoming more popular. In addition to that, the possibility to collect and analyze data from intelligently automated processes allows manufacturers and service providers to make data-driven decisions.

Furthermore, the COVID-19 pandemic has left some sectors struggling to fill job vacancies. Robot solutions can also partially compensate for these deficits or assist the remaining employees, for example, in retail or hospitality, that have been faced with challenges due to staff shortages.

The trend of simplification is another driver of the Robotics market. With decreasing implementation efforts, robotics is also gaining importance in industries that have not used robots in the past. Robot manufacturers try to make their products easier to use by providing holistic offerings, i.e., bundling hardware packages with software solutions, which facilitates easier implementation of autonomous setups.

With all these trends driving the Robotics market, it is expected to continue growing in the future, resulting in positive revenue growth rates in the forecast period.

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.