Robotics - Central & Western Europe

Central & Western Europe

Revenue in the Robotics market is projected to reach US$12.33bn in 2024.
Service robotics dominates the market with a projected market volume of US$9.84bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.97%, resulting in a market volume of US$21.70bn by 2029.
In global comparison, most revenue will be generated in the United States (US$9,421.00m in 2024).

Key regions: United States, China, South Korea, Japan, Germany

Definition:

The Robotics market refers to the industry that encompasses the design, development, manufacturing, and deployment of robotic systems and technologies. It involves the creation of machines that perform tasks autonomously or with minimal human intervention. These machines, also known as robots, mimic human actions and/or perform specialized functions in various sectors. These sectors include manufacturing, healthcare, agriculture, logistics, defense, and entertainment.

A robot is defined as a powered machine that is programmable on two or more axes and has some degree of autonomy; it moves within its environment to perform its programmed tasks.

Structure:

The Robotics market shows the market size of robotics in industrial and service use cases. In Industrial Robotics, there are six distinct markets:

The Automotive Industry Robotics market
The Chemical Industry Robotics market
The Electric/Electronic Industry Robotics market
The Food Industry Robotics market
The Metal Industry Robotics market
The Other Industry Robotics market

Service Robotics is further split into:

The Commercial Service Robotics market, which contains the Agriculture, Logistics, Medical and Other Service Robotics markets
The Consumer Service Robotics market, which contains the Domestic and Entertainment Robotics markets

Additional information:

Data includes revenues, volume, and the average price per newly installed robot. It also examines the level of automation, the share of collaborative robots, and investment in robotics, as well as a list of the key players in the market and their consolidated revenues. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Industrial Robotics does not include software revenues, as industrial robots are mostly used with specific software solutions that belong to the company that deploys them. For Service Robotics, software revenues are considered, as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include Kuka, ABB, Boston Dynamics, and Yaskawa Electric Corporation.

For more information on the data displayed, use the info button right next to the box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Robotics Market in Central & Western Europe has been experiencing a decline in growth, influenced by factors such as slow adoption of digital technologies, limited consumer awareness, and challenges in implementing online services. This is particularly evident in the Industrial and Service robotics sub-markets.

Customer preferences: With a growing aging population and increasing labor costs, the Robotics Market market in Central & Western Europe is witnessing a rise in demand for robotic solutions in various industries. This trend is driven by the need for automation and efficiency, as well as the desire for contactless operations in the wake of the COVID-19 pandemic. Additionally, there is a growing focus on incorporating artificial intelligence and machine learning capabilities into robotics, further enhancing their capabilities and potential applications.

Trends in the market: In Central & Western Europe, the Robotics Market is experiencing a surge in collaborative and mobile robots, as well as a shift towards more flexible and customizable automation solutions. This trend is driven by the need for increased productivity and efficiency in manufacturing processes, as well as the growing demand for advanced technologies in industries such as healthcare and logistics. With the rise of Industry 4.0 and the Internet of Things, these trends are expected to continue, leading to further advancements in robotics technology and potential cost savings for businesses. However, this also raises concerns about potential job displacement and the need for upskilling in the workforce.

Local special circumstances: In Central & Western Europe, the Robotics Market is thriving due to the region's advanced manufacturing capabilities and strong government support for automation. Countries like Germany and Switzerland have a highly skilled workforce and a long history of industrial innovation, making them ideal hubs for robotics research and development. Additionally, the European Union's strict regulations on worker safety and product quality have led to a high demand for advanced robotics solutions. This has also spurred the growth of collaborative robots, which are designed to work alongside humans in a safe and efficient manner.

Underlying macroeconomic factors: The robotics market in Central & Western Europe is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with favorable regulatory environments and strong investment in robotics technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and industrial digitization in various sectors, such as manufacturing, healthcare, and logistics, is driving the growth of the robotics market in the region. Furthermore, the rising adoption of artificial intelligence and the need for advanced technologies to improve efficiency and productivity are also contributing to the market's growth.

Methodology

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.