The robotics industry is a rapidly growing, technology-driven industry that has advanced hugely in recent years. With the potential to drive innovation to create a multitude of autonomous and cognitive devices, these technologies can be applied across several different industries, most recently in healthcare, digital, manufacturing and within the service industry.
Whilst Japan currently exists as the primary industrial robot manufacturer, Europe is emerging as a strong player in the global robotics industry, currently accounting for 32% of the robotics market worldwide. Germany is undoubtably the European leader in robotics, which generated over $3.5bn in revenue in 2020 alone. The global robotics market is predicted to generate $34.7bn by 2022, and the European robotics market to date has generated over $3.2bn in the first half of 2021 and is further expected to grow by 15% between 2021 and 2025.
At current, whilst industrial robotics holds about a third of the worlds market share, much smaller professional service robot market manufacturers in Europe produce over 63% of non-military robots across the world. Service robots have been applied across various sectors, including construction, healthcare, agriculture and defence and security, with the development of both professional and personal robots rapidly increasing across Europe. The strength of European robotics particularly lies in its interdisciplinary reach alongside the value chain. One example of this collaboration is Bristol Robotics Laboratory, which has been cited a unique collaboration to harness both the collective research strengths of the university with the top industry expertise to drive Britain’s efforts to become a world leader in advanced robotics.
The prevalence of an ageing population across many European countries has also driven the innovation and demand for medical robots, which is expected to generate over $2.2bn by the end of 2021. Germany exists as the strong market leader in healthcare robots, accounting for 42% of the medical robotic market share. German robotic companies such as Avatera and Medineering are emerging as strong market players in the surgical robotics field, allowing clinicians to perform complex procedures with more precision, flexibility and control. This highlights the huge potential for robotics innovation not only from European companies, but also for international companies looking to enter the European robotics market with an aim to drive innovation and advancement of global healthcare across multiple different medical fields.