Saudi Arabia Service Robotics Market
Saudi Arabia Service Robotics Market - By Type (Professional Service Robots, Personal Service Robots); By Component (Hardware, Software, Services); By End User (Healthcare, Defense & Security, Agriculture, Logistics, Entertainment), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: April 2023
- Report ID: BWC23340
- Available Format: PDF
- Page: 200
Report Overview
Increasing operational efficiency and cost savings, shortage of labor and rising demand for services, and increasing preference for smart homes and appliances are projected to propel the expansion of Saudi Arabia service robotics market during the forecast period between 2023 and 2029.Saudi Arabia Service Robotics Market - Industry Trends & Forecast Report, 2029
Saudi Arabia service robotics market size was estimated at USD 600.23 million in 2022. During the forecast period between 2023 and 2029, the size of Saudi Arabia service robotics market is projected to grow at CAGR of 15.55% reaching a value of USD 1,653.19 million by 2029. Major growth drivers for Saudi Arabia service robotics market include an increasing demand for automation in various sectors, such as healthcare, hospitality, retail, and construction, and an increasing preference for smart homes and appliances. The Saudi Arabian government is promoting the adoption of robotics in various sectors through initiatives such as the National Industrial Development and Logistics Program (NIDLP), the Saudi Vision 2030, and the National Transformation Program (NTP). These initiatives are aimed at reducing the country's reliance on oil and developing a knowledge-based economy, which has led to increased investments in robotics.
The healthcare sector in Saudi Arabia is experiencing a surge in demand for service robots, such as surgical robots, rehabilitation robots, and telepresence robots, owing to the aging population and the need for better healthcare services. The COVID-19 has also accelerated the adoption of service robots in hospitals and clinics for tasks such as disinfection and patient monitoring. Also, the development of advanced robotics technology, such as AI and ML, has led to the creation of more sophisticated service robots that can perform a wide range of tasks. This has increased the demand for service robots in Saudi Arabia, as businesses seek to improve efficiency coupled with the cost-of-service robots has decreased in recent years, making them more accessible to businesses of all sizes. This has led to increased adoption across various sectors in Saudi Arabia. Hence, these aspects are expected to boost the expansion of Saudi Arabia service robotics market during the forecast period.
Saudi Arabia Service Robotics Market – Overview
The service robotics market in Saudi Arabia refers to the market for robots that are designed to perform services for humans, either in a professional or personal context. These robots are programmed to perform tasks autonomously or with minimal human intervention and can be used in a variety of industries, such as healthcare, hospitality, retail, construction, and others. Service robots can take various forms, such as humanoid robots, mobile robots, collaborative robots, and drones. They are equipped with various sensors, cameras, and other technologies that enable them to interact with the environment and perform specific tasks efficiently. The service robotics market in Saudi Arabia is experiencing significant growth due to the increasing demand for automation in various sectors and the development of advanced robotics technology.
Saudi Arabia Service Robotics Market
Growth Drivers
Increasing Preference for Smart Homes and Appliances
As the preference for smart homes and appliances continues to grow in Saudi Arabia, the service robotics market is expected to benefit greatly. Consumers are increasingly seeking energy-efficient and convenient solutions for their household tasks, and smart homes and appliances equipped with sensors, cameras, and other technologies offer just that. Service robots such as cleaning robots, security robots, and personal assistants can be integrated into home automation systems, allowing homeowners to control them remotely via connected devices. These robots can perform various tasks, including cleaning and vacuuming, which can save homeowners time and effort. In line with promoting sustainable living and energy efficiency, the Saudi Arabian government has launched various initiatives such as the Saudi Energy Efficiency Center and the Saudi Energy Efficiency Program. As the trend towards smart homes and appliances continues to gain traction, there is expected to be an increase in demand for service robots. This presents a significant opportunity for service robot manufacturers to develop and market products that meet the evolving needs of Saudi Arabian consumers.
Restraints
High Cost of Service Robots Compared to Traditional Labor
Service robots’ higher cost than that of traditional labor may restrain the growth of the service robotics market in Saudi Arabia. While service robots can perform tasks more efficiently and accurately than humans, they are initially expensive to purchase, install, and maintain. This cost may be prohibitive for some businesses and individuals who may prefer to continue using traditional labor.
The lack of skilled personnel to operate and maintain service robots is another challenge that may restrain the growth of the market. The deployment of service robots requires specialized skills and knowledge, and there may be a shortage of trained personnel in Saudi Arabia.
Impact of COVID-19 on Saudi Arabia Service Robotics Market
COVID-19 had both positive and negative impacts on the Saudi Arabia service robotics market. On the one hand, there has been an increased demand for robots that can perform tasks, such as cleaning and disinfecting to prevent the spread of the virus. On the other hand, the pandemic caused disruptions in the global supply chain, resulting in a shortage of components needed for manufacturing robots. This has led to delays in production and delivery of service robots. Furthermore, the economic slowdown caused by the pandemic has led to a decrease in consumer spending, which may have a negative impact on the demand for service robots in the short term.
Saudi Arabia Service Robotics Market
Segmental Coverage
Saudi Arabia Service Robotics Market – By Type
By type, Saudi Arabia service robotics market is bifurcated into Professional Service Robots and Personal Service Robots segments. The professional service robot segment is projected to hold a higher market share during the forecast period. This growth can be attributed to an increasing demand for service robots across various industries, such as logistics, defense, construction, and medical. Furthermore, the adoption of automation and mobility in many sectors has had a significant impact on the market share of the service robotics market. The growth of the professional segment is also driven by rising labor costs due to a lack of skilled labor, increased investments in research and development, and increased awareness of the availability of service robots for industrial automation. Also, the professional service robots include cleaning, security and logistics.
Saudi Arabia Service Robotics Market – By Component
Based on component, Saudi Arabia service robotics market is divided into Hardware, Software, and Services segments. The software component of service robotics is expected to hold the highest market share as service robots are likely to be designed for specific applications. For example, an AGV (Automated Guided Vehicle) programmed for swarm operations in a factory can also be programmed for food delivery. Delivery drones may need real-time software to operate effectively in different environments. Therefore, the market for software is expected to grow at a higher Compound Annual Growth Rate (CAGR) during the forecast period. The software segment includes programs and algorithms.
Saudi Arabia Service Robotics Market – By End User
Based on end user, Saudi Arabia service robotics market is divided into Healthcare, Defense & Security, Agriculture, Logistics, and Entertainment segments. The automotive sector had the highest share of the market, and it is expected to grow at a faster pace than other segments during the forecast period. This is because of the greater level of automation in the industry, with service robotics being utilized to transport and store goods, leading to time savings and enhanced efficiency.
Competitive Landscape
Major players operating in Saudi Arabia service robotics market include Advanced Electronics Company, Saudi Robotics, Saudi Industrial Development Fund, Taqnia Robotics, Alsalam Aerospace Industries, Al-Majd Company, Arabian Robotics Company, Dallah Albaraka Group, Hajj Robots, Intra Defense Technologies, Saifi Automation, and SAMA Aerospace and Defense. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Million |
Market Coverage |
Saudi Arabia |
Product/ Service Segmentation |
Type, Component, End User |
Key Players |
Advanced Electronics Company, Saudi Robotics, Saudi Industrial Development Fund, Taqnia Robotics, Alsalam Aerospace Industries, Al-Majd Company, Arabian Robotics Company, Dallah Albaraka Group, Hajj Robots, Intra Defense Technologies, Saifi Automation, SAMA Aerospace and Defense |
By Type
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Professional Service Robots
-
Personal Service Robots
By Component
-
Hardware
-
Software
-
Services
By End User
-
Healthcare
-
Defense & Security
-
Agriculture
-
Logistics
-
Entertainment
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Saudi Arabia Service Robotics Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Operational efficiency and cost savings
- Shortage of labor and rising demand for services
- Increasing preference for smart homes and appliances
- Restraints
- High cost of service robots compared to traditional labor
- Opportunities
- Expansion of the service robotics market in new and emerging applications
- Collaboration between local and international companies
- Challenges
- Security and privacy concerns
- Growth Drivers
- Technology Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Saudi Arabia Service Robotics Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share and Forecast
- By Type
- Professional Service Robots (cleaning, security, logistics, etc.)
- Personal Service Robots (vacuuming, mowing, companion, etc.)
- By Component
- Hardware
- Sensors
- Actuators
- Processors
- Software
- Programs
- Algorithms
- Services
- Hardware
- By End User
- Healthcare
- Defense & Security
- Agriculture
- Logistics
- Entertainment
- Others
- By Type
- Market Size & Forecast, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- Saudi Arabia Service Robotics Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Covid-19 on Saudi Arabia Service Robotics Market
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- Advanced Electronics Company
- Saudi Robotics
- Saudi Industrial Development Fund
- Taqnia Robotics
- Alsalam Aerospace Industries
- Al-Majd Company
- Arabian Robotics Company
- Dallah Albaraka Group
- Hajj Robots
- Intra Defense Technologies
- Saifi Automation
- SAMA Aerospace and Defense
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information of case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Saudi Arabia Service Robotics Segmentation
Figure 2 Saudi Arabia Service Robotics Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Saudi Arabia Service Robotics Market Size, By Value (USD Million), 2019–2029
Figure 5 Saudi Arabia Service Robotics Market Share, By Type, By Value, 2019–2029
Figure 6 Saudi Arabia Service Robotics Market Share, By Component, By Value, 2019–2029
Figure 7 Saudi Arabia Service Robotics Market Share, By End User, By Value, 2019–2029
List of Tables
Table 1 Saudi Arabia Service Robotics Market Size, By Value (USD Million), 2019–2029
Table 2 Saudi Arabia Service Robotics Market Share, By Type, By Value, 2019–2029
Table 3 Saudi Arabia Service Robotics Market Share, By Component, By Value, 2019–2029
Table 4 Saudi Arabia Service Robotics Market Share, By End User, By Value, 2019–2029
Table 5 Advanced Electronics Company Overview
Table 6 Advanced Electronics Company Financial Overview
Table 7 Saudi Robotics Company Overview
Table 8 Saudi Robotics Financial Overview
Table 9 Saudi Industrial Development Fund Company Overview
Table 10 Saudi Industrial Development Fund Financial Overview
Table 11 Taqnia Robotics Company Overview
Table 12 Taqnia Robotics Financial Overview
Table 13 Alsalam Aerospace Industries Company Overview
Table 14 Alsalam Aerospace Industries Financial Overview
Table 15 Al-Majd Company Overview
Table 16 Al-Majd Company Financial Overview
Table 17 Arabian Robotics Company Overview
Table 18 Arabian Robotics Company Financial Overview
Table 19 Dallah Albaraka Group Company Overview
Table 20 Dallah Albaraka Group Financial Overview
Table 21 Hajj Robots Company Overview
Table 22 Hajj Robots Financial Overview
Table 23 Intra Defense Technologies Company Overview
Table 24 Intra Defense Technologies Financial Overview
Table 25 Saifi Automation Company Overview
Table 26 Saifi Automation Financial Overview
Table 27 SAMA Aerospace and Defense Company Overview
Table 28 SAMA Aerospace and Defense Financial Overview
Market Segmentation
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