Southeast Asia Industrial and Service Robot Market 2021 New Technology Research – Ourglass Pte Ltd, - Savioke Inc., - Kurve Automation Pte Ltd, - Techmetics Robotics

Southeast Asia Industrial and Service Robot Market - Growth, Trends, and Forecasts(2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Southeast Asia Industrial and Service Robot Market on the basis of stating current situation of the industry in 2021.

This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market.

The Southeast Asian industry and service robot market is expected to witness a CAGR of 10.7% during the forecast period (2020-2025).

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Competitive Landscape

Companies are focused on developing new marketing strategies and introducing new products based on value-added ingredients, to compete in the market. Some of the major companies in the organic baby food market are - Ourglass Pte Ltd, - Savioke Inc., - Kurve Automation Pte Ltd, - Techmetics Robotics, - ABB Ltd, - Daifuku Co. Ltd, - Nachi Robotic Systems Inc., - Eureka Robotics, - Delta Electronics Inc..

- In November 2019, B&R, a unit of ABBs Robotics and Discrete Automation business, announced the integration of ABB robots into its automation portfolio. With the ability to offer unprecedented levels of machine flexibility and precision, merging robotics with machine control into one unified architecture will enable manufacturers to embrace the trend of mass customization and optimize their lot size one processes.

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 is expected to grow between 20% and 25% by 2021.

- The aging societies of Southeast Asia, such as Thailand and Singapore, are driving growth in the medical technology sector, thus, creating a massive market for service robots in the region. According to the Ministry of Internal Affairs and Communications (Singapore), in 2018, around 35.2 million inhabitants were aged 65 years or older. This number was projected to grow to 36.2 million in 2020. This is encouraging companies to invest in products for the elderly in the region.
- In addition, prominent vendors are looking to invest in the region to develop rehabilitation robots. For example, recently, Ekso Bionics entered into a joint venture with Zhejiang Youchuang Venture Capital Investment Co. Ltd worth USD 100 million. This JV will be developing, selling, and supporting exoskeleton products in China, Singapore, Hong Kong, and Malaysia.
- Amid the COVID-19 pandemic, the southeast Asian countries are getting more push toward digital transformation across the industries. This is also driving the adoption of robots in the region. Vietnam, for instance, has experienced a depletion in GDP of 3.8% in Q1 2020 and yet the Asian Development Bank (ADB) has forecast Vietnam to be one of the fastest-growing economies in Southeast Asia. The country has employed robots and drones to transport medical aid, infectious samples, food and essential deliveries, sterilization, and surveillance of the public and public areas.

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Key Market Trends: 

Increasing Aging Population_ to Drive the Growth of the Market
- Geriatric patients access physiotherapy services for health conditions, such as recovery after an injury, a stroke, or a surgical procedure, such as a knee or hip or replacement. Physiotherapy helps older adults maintain or improve their strength, mobility, and range of motion and reduce their risk of injuries and falls._
- According to an independent survey, sponsored by Wellchem Pharmaceutical to mark World Arthritis Day, found that about 40% of elderly Singaporeans have experienced pain in their knees for five years or more._ Considering the fact that 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. _
- Moreover, vendors in the region are involved in product innovation to get certified by medical councils and launch their product in the market. For instance, in Oct 2019, Cyberdyne, Inc. obtained a medical device approval to sell and manufacture HAL for medical use for lower limb type, a wearable cyborg primarily designed to improve the physical function of the wearer, from the Malaysian Medical Device Authority._
- 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, and 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)._ These limitations might hinder the growth of the market in the region.

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