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The robotics market in Europe is estimated to grow from US$10.1 billion in 2018 to US$20.0 billion in 2023 at a CAGR of 9.2% during the forecast period. Europe starts from a strong position in robotics, having 32% of current world markets. Industrial robotics has around one-third of the world market, while in the smaller professional service robot market European manufacturers produce 63% of the non-military robots.
Europe is a leader in the robotics market for field robotics, logistics, and construction. The usage of robotics in this market is varied and is also used in professional cleaning.
The military application of robotics is high in the professional use of service robotics. In defense, both manned and unmanned types of robots are used. In unmanned use, drones are very common. The use of drones has increased in the battlegrounds for a few years. They are being used for intelligence, surveillance, and reconnaissance missions and have helped the soldiers on the ground and sitting far away to plan their next move.
The German market is one of the big markets for robotics and is estimated to grow more in the period to come. Other markets like Spain, Italy, and the UK will also grow to become major players in the robotics market in the years to come.
A rise in the need for automation and safety in organizations and the availability of affordable, energy-efficient robots drive the growth of the global robotics market. In addition, an increase in labour and energy costs and an upsurge in the usage of robotics technology in different industry verticals fuel the growth of the market. However, the high initial cost of robots and lack of awareness among SMEs hamper the growth of the market. On the contrary, a surge in the adoption of robotics technology in emerging economies and an increase in use in diverse applications are the factors expected to provide lucrative opportunities for the growth of the market.
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