Robotics - Denmark

Denmark

Revenue in the Robotics market is projected to reach US$295.70m in 2024.
Industrial robotics dominates the market with a projected market volume of US$207.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -2.33%, resulting in a market volume of US$262.80m 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 Denmark is facing a subdued decline in growth due to a combination of factors such as slow adoption of digital technologies, limited health awareness among consumers, and lack of convenience in online services. However, the market is expected to see growth in the sub-markets of Industrial and Service robotics, driven by the increasing demand for automation in various industries and the need for efficient and cost-effective solutions.

Customer preferences: The demand for advanced and automated solutions in the Robotics Market has greatly increased in recent years. This is driven by the growing trend of integrating robotics into various industries, such as manufacturing, healthcare, and agriculture. The use of robotics allows for more efficient and precise operations, reducing the risk of human error and increasing productivity. Additionally, the rise of artificial intelligence and machine learning has opened up new possibilities for robotics, pushing the market towards further innovation and growth. This shift towards automated solutions is also influenced by the increasing need for cost-effective and sustainable practices in businesses.

Trends in the market: In Denmark, the Robotics Market is experiencing a surge in the adoption of collaborative robots, also known as cobots. These robots are designed to work alongside humans, increasing efficiency and reducing injuries in manufacturing processes. Additionally, there is a growing trend of using robotics in healthcare, with robots being used for tasks such as medication dispensing and patient care. This trend is expected to continue as the demand for automation and efficiency in various industries increases. As a result, there is a significant opportunity for industry stakeholders to tap into this market and offer innovative solutions to meet the growing demand for robotics in Denmark.

Local special circumstances: In Denmark, the Robotics Market is thriving due to the country's strong focus on innovation and technology. With a highly educated workforce and government support for research and development, Denmark has become a hub for robotics companies. Additionally, the country's small size and efficient transportation system make it an ideal testing ground for new robotics technologies. Furthermore, Denmark's commitment to sustainability has also led to the development of eco-friendly and energy-efficient robotics solutions.

Underlying macroeconomic factors: The Robotics Market in Denmark is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. A strong and stable national economy, along with favorable fiscal policies, has created a conducive environment for the growth of the market. Additionally, Denmark's focus on sustainability and innovation has led to increased adoption of robotics in various industries, further driving market growth. The country's highly skilled workforce and supportive regulatory framework have also contributed to the market's success.

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.