Robotics - EU-27

EU-27

Revenue in the Robotics market is projected to reach US$13.45bn in 2024.
Service robotics dominates the market with a projected market volume of US$9.87bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.09%, resulting in a market volume of US$21.75bn 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.

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Market

Region

Region comparison

Currency

Analyst Opinion

The robotics market in EU-27 is facing a negligible decline in growth rate due to factors such as slow economic recovery, limited government investments, and rising labor costs. However, the demand for industrial and service robotics is expected to increase in the coming years, driven by the need for automation, advancements in technology, and the growing trend of Industry 4.0. These sub-markets are also benefiting from the increasing focus on safety and efficiency in industries, as well as the aging population and the need for assistance in daily tasks.

Customer preferences: The demand for advanced robotics solutions is growing in the EU-27, driven by increasing automation and efficiency needs in various industries. This shift towards automation is also influenced by the aging population and the need for more cost-effective and reliable production processes. Additionally, the rising trend of "smart factories" and the integration of Artificial Intelligence (AI) and Internet of Things (IoT) technologies are expected to further drive the growth of the robotics market in the region.

Trends in the market: In the EU-27, 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 the risk of workplace accidents. Additionally, there is a growing trend towards using robotics in the healthcare sector, with robots being used for tasks such as patient care, disinfection, and medication delivery. This trend is significant as it highlights the potential for robotics to revolutionize various industries and improve overall productivity. Industry stakeholders can expect to see increased demand for robotics and related technologies, as well as the need for upskilling and retraining of workers to adapt to this new era of automation.

Local special circumstances: In Germany, the Robotics Market is driven by the country's strong manufacturing sector and advanced technology adoption. The government's support for Industry 4.0 initiatives has led to the widespread adoption of robotics and automation in various industries, such as automotive and electronics. Additionally, the country's stringent regulations on worker safety and labor laws have also contributed to the demand for robotics solutions, particularly in hazardous working environments.

Underlying macroeconomic factors: The Robotics Market in EU-27 is greatly impacted by macroeconomic factors such as technological advancements, government policies, and investment in research and development. Countries with strong economic growth and a favorable business environment are witnessing higher demand for robotics solutions, as companies seek to increase efficiency and productivity. Furthermore, the increasing adoption of automation in industries such as manufacturing, healthcare, and logistics is driving the growth of the robotics market. Additionally, the rising aging population and the need for cost-effective solutions are also contributing to the market's expansion.

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.