Southeast Asia Industrial and Service Robot Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Southeast Asia Industrial and Service Robot Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Southeast Asia Industrial and Service Robot Market is expected to register a CAGR of 10.7% over the forecast period. The adoption of robots (industrial as well as service robots) is increasing in Southeast Asian countries. According to the International Federation of Robotics (IFR) estimate, the sales of robots in the region are expected to grow between 20% and 25% in recent years.

• The aging societies of Southeast Asia, such as Singapore and Thailand, are driving growth in the medical industry sector, creating a massive market for service robots in the region. According to the Singapore department of statistics, in 2021, around 0.28 million inhabitants were 65 years or older. This encourages several companies to invest in products for the elderly population in the region.
• Improving productivity in industries like logistics that require tasks will be dependent on much cheaper robots. However, robots are already contributing to driving productivity. From picking up garbage, cleaning streets, preparing/delivering food, and providing room service in hotels, the opportunity and benefits of the industrial and service robots will be endless.
• In addition, prominent vendors are looking to invest in the region to develop rehabilitation robots. For instance, Ekso Bionics entered into a joint venture with Zhejiang Youchuang Venture Capital Investment Co. Ltd worth USD 100 million. This JV will develop, sell, and support exoskeleton products in China, Singapore, Hong Kong, and Malaysia.
• Southeast Asia countries are ahead in robot adoption. However, there are likely many contributing factors that expedite robot adoption rates in the region. For instance, some of the leading countries in the region have established national goals and unique strategies to support robotics innovation and robot adoption. Some Southeast Asian nations have proactive tax policies to provide advanced robot technology adoption incentives.
• Amid the COVID-19 pandemic, southeast Asian countries got more push toward digital transformation across industries. This also propelled the adoption of robots in the region. Vietnam, for instance, experienced a depletion, yet the Asian Development Bank (ADB) forecasted Vietnam as one of the fastest-growing economies in Southeast Asia. The country employed robots and drones to transport medical aid, infectious samples, food and essential deliveries, sterilization, and surveillance of the public and public areas.

• Geriatric patients access the physiotherapy industry for health conditions, such as a stroke, recovery after an injury, or a surgical procedure, such as hip or knee replacement. Physiotherapy helps elderly adults to improve and maintain their strength, range of motion, and mobility and reduces their risk of injuries and falls.​
• An independent survey by Wellchem Pharmaceutical to mark World Arthritis Day stated that about 40% of elderly Singaporeans had experienced knee pain for five years or more.​ Because by 2025, 22% of the world population may be older than 60, according to the World Bank, the demand is only going to increase, thus, making service robots a lucrative market to invest in. Moreover, vendors in the region are involved in product innovation to get certified by medical councils and launch their products in the market.
• The concern of elder care is one of the factors like supply and demand. As the senior population increases, the number of caregivers is not increasing. Using robots for elderly care will vastly reduce the current astronomical cost of elderly care. Additionally, it will pick up the slack regarding the number of caregivers available as the ratio of elderly to nonelderly people shifts.
• However, the higher costs of service robots are associated with powerful and robust hardware and efficient software. Apart from high prices, these products also require a higher level of maintenance than a manually operated machine. They generally have a lower degree of flexibility regarding possible products (even flexible automation is less flexible than humans, the most versatile tools of all).​

• Singapore has taken several future steps to establish the country as the host of the world's second most robot-intensive manufacturing sector, behind only South Korea. Using industrial robotics increases productivity and boosts output in the manufacturing industry globally. As robotics solutions become more widely adopted, it is only natural that the implementation costs will reduce. Robotics solutions to perform tasks. For instance, the industrial robots in several manufacturing plants and mobile robots are among the features that contribute hugely to this ongoing success in Singapore.
• Technological innovations concerning cognition, interaction, and manipulation, have made industrial robotics more appealing. Technology and other component providers have moved the robotics ecosystem forward. The COVID-19 pandemic has made businesses recognize the need for automation and robotics for various processes.
• Singapore's economy, industries, and society have significantly benefitted from robotics solutions. Harnessing fourth industrial revolution (4IR) technologies, including industrial robots and cobots, is one of the unique ways that the country pursues to strengthen its industries. Singapore, a powerhouse with multiple manufacturing plants, has a highly skilled workforce and is a global leader in microchip and semiconductor manufacturing. It excels in advanced manufacturing, which employs Smart digital technologies for production and business activities. Those technologies include industrial robots, thus driving the demand.
• Singapore's manufacturing sector is witnessing significant growth, posing no boundaries. Singapore is one of few countries to successfully reverse the decline in the manufacturing sector's share of GDP (Gross Domestic Product), driven by industrial robots. Increasingly, robots are fulfilling frontline roles and serving important safe distancing purposes while no longer merely serving as a curiosity.

The Southeast Asia Industrial and Service Robot Market is very competitive in nature. Some of the significant players in the market are ABB Ltd Daifuku Co. Ltd, Nachi-Fujikoshi corp, Sumitomo Heavy Industries, Ltd., and many more.

• September 2022 - Sumitomo partnered with Dexterity Partner to Deploy 1,500 Robots in the warehouses by 2026. The full-task robots Dexterity deployed have increased demand for flexible automation that operates in existing infrastructure and workflows. The SaaS platform equips robots with the sense of touch, vision, and handling complicated and intelligence to multi-task, goods, and achieve beyond-human in repetitive tasks. The distribution agreement with Sumitomo, a Japan-based Fortune 500 multinational, will enable Dexterity to offer its RaaS business to warehouses.
• July 2022 - Dreame Technology partnered with Robocon. Dreame's innovative designs continue to drive the development of robotics. Together with ROBOCON, Dreame established the FOR DREAM - Dreame Technology Robotics Innovation Fund to support outstanding students in their scientific and technological innovations. The company has evolved from the cleaning robot sector to a broader range of pan-mobile robots, such as quadruped robots, and offers professional and attentive technical logic support.

• The market estimate (ME) sheet in Excel format
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