The Malaysia Robotics market is projected to reach 103.1 billion RM (23 billion USD) by 2030, surpassing the set target in the National Robotics Roadmap 2021-2030, according to the Ministry of Science, Technology and Innovation (MOSTI).
The Malaysia Robotics market is projected to reach 103.1 billion RM (23 billion USD) by 2030, surpassing the set target in the National Robotics Roadmap 2021-2030, according to the Ministry of Science, Technology and Innovation (MOSTI).
Speaking at a conference held by the Malaysia Robotics and Automation Society (MyRAS), Deputy Secretary-General of MOSTI Mohd Nor Azman Hassan said the market value of the robotics industry, especially service robots among others in 2022 was about 92.29 billion RM, despite the detrimental effect of COVID-19 towards the economy.
However, he said the disparity of contribution by micro, small and medium-sized enterprises (MSMEs) compared to multinational corporations (MNCs) needed to be addressed beforehand.
The MSMEs’ contribution is far less than MNCs with a market share of 3-5% over the forecast period, he said.
Meanwhile, MyRAS President Prof. Dr Ishkandar Baharin said NRICR aims to shift the Malaysian robotics ecosystem from value add to value creation that is sustainable through high-impact innovative solutions in realizing the vision of the National Robotics Roadmap 2021-2030 for Malaysia to become a regional robotics hub in services, agriculture and manufacturing by 2030.
In the same statement, MRANTI chief executive officer Dzuleira Abu Bakar said it will set up a national robotics hub at MRANTI Park in Bukit Jalil in collaboration with MyRAS, MARii and other robotics industry players to support the expansion of the robotics ecosystem players in Malaysia.
