Market Insights Technology Robotics Service Robotics

Commercial Service Robotics - Egypt

Egypt

Revenue in the Commercial Service Robotics market is projected to reach US$14.88m in 2024.
Medical service robotics dominates the market with a projected market volume of US$12.65m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.38%, resulting in a market volume of US$12.53m by 2029.
In global comparison, most revenue will be generated in the United States (US$4,993.00m in 2024).

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

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Analyst Opinion

The Commercial service robotics market in Egypt is facing a significant decline in growth rate, driven by factors such as slow adoption of digital technologies, lack of health awareness among consumers, and limited convenience offered by online services. This trend is seen across all sub-markets within the Service robotics market, including Agriculture, Logistics, Medical, and Other Service Robotics.

Customer preferences: The growing demand for automation and efficiency in the commercial sector has led to an increase in adoption of service robotics in Egypt. With a focus on cost-effectiveness and time-saving solutions, businesses are turning to robotics for tasks such as inventory management, warehouse operations, and customer service. This trend is further fueled by a growing workforce shortage and the need for contactless interactions amidst the COVID-19 pandemic. Additionally, the rise of e-commerce and online shopping has also contributed to the demand for service robotics in the country.

Trends in the market: In Egypt, the Commercial Service Robotics Market is experiencing a surge in demand for robots in the retail and hospitality industries. This trend is expected to continue due to the country's growing tourism industry and increasing adoption of automation and digitization in the service sector. Additionally, there is a rise in the use of delivery robots in the food and beverage industry, driven by the need for contactless delivery amid the COVID-19 pandemic. These trends highlight the potential for further growth and investment opportunities in the Egyptian market for commercial service robotics.

Local special circumstances: In Egypt, the Commercial service robotics market is growing due to the country's focus on modernizing its economy and promoting technological advancements. The government's Vision 2030 plan includes initiatives to promote the use of robotics in various industries, including healthcare and agriculture. This, coupled with the country's strategic location and skilled workforce, makes Egypt an attractive market for service robotics. However, the market faces challenges such as limited awareness and adoption, as well as cultural and regulatory barriers. These factors influence the market dynamics and require tailored strategies for successful market entry and growth.

Underlying macroeconomic factors: The Commercial service robotics Market of the Service robotics Market within the Robotics Market is influenced by macroeconomic factors such as technological advancements, government initiatives, and investment in industrial infrastructure. Countries with supportive regulatory environments and robust investment in service robotics are witnessing faster market growth compared to regions with regulatory hurdles and limited funding. Moreover, the increasing demand for automation and efficiency in industries, coupled with the growing need for cost-effective solutions, is driving the adoption of service robotics in various sectors.

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.