Exploring Asia's Potential as the New Robotics Industry Market
Asia is at the forefront of the robotics industry on a global scale. With a large market for industrial and service robots, China leads the way, followed by Japan and South Korea. Although the progress of robotics is clearly visible in East Asia, actually the potential of the robotics industry itself can also be seen in other parts of Asia.
Mordor Intelligence anticipates an increasing adoption of robots in Southeast Asia, making it expected to grow at a CAGR of 10.7% during the forecasted period of 2021-2026. Some countries included: Singapore, Thailand, and Vietnam. In this article, we will explore the potential of the robotics market in five countries in the region: Indonesia, Taiwan, India, Thailand, and Singapore.
Singapore has successfully positioned itself as one of the global countries with the highest robot density. The country has set its sights on being a smart nation and has 605 robotic workers installed per 10,000 human employees. James Lambert, director of economic consulting for Asia at Oxford Economics in Singapore, also stated that the secret of Singapore's success can be found in one word: robots. Along with open economic policies that encourage foreign direct investment, the education system promotes advanced technology to increase skill levels in the robotics industry.
Thailand has become a hub for robotics innovation in Southeast Asia, with a number of initiatives aimed at promoting the use of robotics in various industries. Examples of robotics applications in Thailand that have received wide media attention in 2019 and 2020 include nursing robots, surgical robots, robot pharmacists, robots to improve elderly mental health, vacuuming robots, homemade security robots, underwater robots and different collaborative robots. The government has launched the Thailand 4.0 program, which seeks to transform the country into a high-tech, innovation-driven economy. The automotive and electronics industries have been early adopters of robotics, with the country also emerging as a major market for collaborative robots (cobots).
Indonesia is a growing market for the robotics industry. Revenue in the Industrial Robotics segment is projected to reach US$88.11m in 2023, and is expected to show an annual growth rate (CAGR 2023-2027) of 6.86%, resulting in a market volume of US$114.90m by 2027, according to a report by Statista. The country's manufacturing industry has been a major driver of growth, with the automotive sector being a key area for investment in robotics. The government has also launched initiatives to promote the use of robotics in the country, such as the Industry 4.0 program, which aims to boost productivity and competitiveness in the manufacturing sector.
India's revenue in the robotics market is projected to reach US$711.10m in 2023, and is expected to show a CAGR of 6.52% from 2023 to 2027, resulting in a market volume of US$915.50m by 2027, according to the same report by Statista. While the country's manufacturing industry is still in the early stages of automation, the service robotics sector has seen significant growth in recent years. The healthcare and hospitality industries have been particularly active in adopting service robots, with the COVID-19 pandemic accelerating the trend.
The Taiwanese robotics industry has been around for some time, just like Singapore. The Taiwanese market’s largest segment is service robotics with a projected market volume of US$168.80m in 2023 and expected to show an annual growth rate (CAGR 2023-2027) of 4.91%, resulting in a market volume of US$271.30m by 2027. The country's strengths in the semiconductor and electronics industries have helped to establish it as a major player in the robotics market. The Taiwanese government has also implemented policies to encourage the development and adoption of robotics, such as tax incentives for companies investing in automation.
Movel AI and team across Asia
As a Singapore-based robotics startup, Movel AI is confident that it will be able to assist robot manufacturers looking to enter the Asian market. With a team spread across Asia, the startup deeply understands the needs for robot manufacturers to explore the robotics market in the region.
Movel AI comes with the best robotic navigation solutions, Seirios. Seirios delivers human-like precision and movements to robots; combining sensor fusion, vision and machine learning & artificial intelligence technologies. Equipped with both 2D and 3D LiDAR-based navigation systems, Seirios enables robots to recognise its surroundings quickly and move around smoothly. Its sensor fusion technology enables robots to detect and recognise both humans and objects (type, size, and shape) and helps to reduce sensor costs by around 40-50% simultaneously. So manufacturing a robot that uses a 3D LiDAR based system won't cost a lot of money anymore.
Movel AI provides tailored solutions to customers across different industries, applications and needs. The startup has provided robot navigation services to clients across a wide range of industries and countries, making it experienced in providing robot navigation services as needed.
While letting Seirios by Movel AI take over the robotic navigation solutions, robot manufacturers can use the extra time to focus on studying their end users; find out what else they need and what technology they might need in the future. This makes two things run in one go and allows them to outsmart their competitors.
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