Market Insights Technology Robotics Service Robotics

Commercial Service Robotics - EU-27

EU-27

Revenue in the Commercial Service Robotics market is projected to reach US$6.90bn in 2024.
Medical service robotics dominates the market with a projected market volume of US$5.01bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.16%, resulting in a market volume of US$11.71bn by 2029.
In global comparison, most revenue will be generated in the United States (US$4,993.00m in 2024).

Key regions: Italy, Japan, France, United States, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Commercial service robotics market in EU-27 is seeing a slow growth rate due to various factors such as limited adoption of digital technologies, lack of awareness among consumers, and challenges in integrating robotics in different service sectors. However, the market is expected to experience a significant rise in the coming years, driven by increasing demand for automation and improved efficiency in industries such as agriculture, logistics, and healthcare.

Customer preferences: There has been a growing trend towards the use of service robots in commercial settings, such as retail and hospitality industries. This is driven by the need for contactless interactions and increased efficiency. Additionally, the aging population in the EU-27 has led to a demand for service robots in healthcare and elder care, as they can provide assistance with daily tasks and improve quality of life. This shift towards automation and personalization is also influenced by the increasing focus on sustainability and reducing labor costs.

Trends in the market: In the EU-27, the Commercial service robotics Market is experiencing an increase in demand for automation and artificial intelligence solutions in various industries such as healthcare, retail, and manufacturing. This is driven by the need for improved efficiency and cost savings. Additionally, there is a growing trend of using service robots in customer-facing roles, such as in hotels and restaurants, to enhance the overall customer experience. This trend is expected to continue in the coming years, with significant implications for industry stakeholders, including increased competition and the need for skilled workers to operate and maintain these robots.

Local special circumstances: In the EU-27 region, the Commercial service robotics market is driven by the increasing adoption of automation in various industries, such as manufacturing, logistics, and healthcare. This is due to the region's strict labor laws and high labor costs, which make it more cost-effective to invest in service robotics. Additionally, the EU's focus on sustainability and reducing carbon emissions has led to a growing demand for eco-friendly and energy-efficient service robots. In countries like Germany and France, there is also a strong emphasis on precision and quality, which has led to the development of high-tech service robots for specialized applications.

Underlying macroeconomic factors: The growth of the Commercial service robotics market is also influenced by macroeconomic factors such as technological advancements, government support for automation, and investment in research and development. Countries with advanced manufacturing capabilities and favorable fiscal policies are experiencing faster market growth compared to regions with limited automation infrastructure and government funding. Additionally, the rising demand for efficient and cost-effective solutions in industries such as healthcare, logistics, and agriculture is driving the adoption of service robotics.

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.