Europe Commercial Robots Market Size, Share & Industry Trends Analysis Report By Application (Medical & Healthcare, Defense & Security, Agriculture & Forestry, Marine and Others), By Type, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Europe Commercial Robots Market would witness market growth of 18.4% CAGR during the forecast period (2023-2029).
Many people are concerned that robots or complete automation will eventually replace them in their occupations, but this is just incorrect. Robots in the workplace have more benefits than downsides. They enhance a business's capacity for success while enhancing the lives of real human personnel still required to maintain operations. Safety is the among the most important benefits of using robotics. Heavy equipment, hot-running machinery, and sharp things can easily hurt a person.
Companies are less likely to face significant medical expenses or legal trouble by giving risky activities to a robot. Furthermore, robots' ability to reduce some hazards will be appreciated by workers who perform hazardous tasks. Robots don't have to split their focus between numerous tasks. Never is their work dependent on the labor of others. They won't have unforeseen emergencies or need to relocate to finish a separate critical task.
They are constantly present and carrying out their assigned duties. Generally speaking, automation is much more reliable than human labor. Robots are useful for repetitive activities; in this sense, they are utilized for certain duties like box packaging; they can perform these tasks day and night without growing bored or tired. In addition, robots are useful for performing repeated jobs because they work quickly to complete their tasks.
The United Kingdom recently raised defense spending to strengthen its armed forces as well as help cover equipment shortages. Recent developments in the European military UAV field are having an effect on the defense industry, the competitive regional climate, and the region's military posture. The European defense establishment is in favor of the new military drone trend due to growing threats to national security. According to estimates, the overall commercial robots market in the region would expand due to the increasing interest in drones across European countries.
The Germany market dominated the Europe Commercial Robots Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $3,280.5 million by 2029. The UK market is anticipated to grow at a CAGR of 17.4% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 19.3% during (2023 - 2029).
Based on Application, the market is segmented into Medical & Healthcare, Defense & Security, Agriculture & Forestry, Marine and Others. Based on Type, the market is segmented into Autonomous Guided Robotics, Medical Robots, Drones, Field Robots and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Commercial Robots Market is Projected to reach USD 56.4 Billion by 2029, at a CAGR of 19.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet, Inc.), Omron Corporation, Boston Dynamics (Hyundai Motor Company), Northrop Grumman Corporation, iRobot Corporation (Amazon.com, Inc.), Kuka AG (Midea Investment Holding Co., Ltd.), Yaskawa Electric Corporation, Honda Motor Co. Ltd., Accuray Incorporated and AeroVironment, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Medical & Healthcare
- Defense & Security
- Agriculture & Forestry
- Autonomous Guided Robotics
- Medical Robots
- Field Robots
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Google LLC (Alphabet, Inc.)
- Omron Corporation
- Boston Dynamics (Hyundai Motor Company)
- Northrop Grumman Corporation
- iRobot Corporation (Amazon.com, Inc.)
- Kuka AG (Midea Investment Holding Co., Ltd.)
- Yaskawa Electric Corporation
- Honda Motor Co. Ltd.
- Accuray Incorporated
- AeroVironment, Inc.
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