The Southeast Asian industrial and service robot market size is expected to witness a growth from USD 1.11 billion in 2024 to USD 1.62 billion by 2029 at a CAGR of 7.92% during the forecast period.
The market volume for the Southeast Asian industrial robot market was expected to reach 1,455 thousand units in 2028 from 812.7 thousand units in 2022.
The increasing developments in Southeast Asia regarding auto parts, electronics manufacturing, and logistics industries are lead remarkable progress in robot adoption. Numerous factors are probably contributing to the accelerated rates of robot adoption in the region. Several leading countries in the region have successfully set national goals and implemented distinctive strategies to encourage robotics innovation and promote the adoption of robots. Certain Southeast Asian nations have implemented proactive tax policies to incentivize adopting advanced robot technology.
The market comprises market incumbents, global firms, and new players competing to assert dominance in an increasingly contested market space. Industry 4.0 and digitalization initiatives across regions provide lucrative opportunities in the industrial robot market. New companies have emerged, differentiating themselves with respect to the robot controlling abilities. With technologies such as IoT, artificial intelligence, and virtual/augmented reality, such companies prosper with sizable revenue gains.
Numerous companies and emerging robot start-ups are dedicated to developing cutting-edge and technologically sophisticated solutions for manufacturers to enhance efficiency. Prominent industry players are actively pursuing acquisition strategies and creating innovative and integrated robots to cater to the needs of end users. Therefore, companies are aiming for a powerful competitive strategy. Some of the major market players are FANUC Corporation, Yaskawa Electric Corporation, KUKA AG, ABB Ltd, Kawasaki Heavy Industries Ltd, and many more.
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