Europe’s Robotics Sector Set for Rapid Growth, Projected Revenue to Reach $28.8 Billion by 2029

While the United States and China have been in a longstanding technological rivalry, particularly in fields like artificial intelligence and robotics, Europe is emerging as the fastest-growing region in the robotics sector.

According to data from AltIndex.com, the European robotics industry is anticipated to expand by 68%, reaching a value of $28.8 billion by 2029, surpassing growth rates in both North America and Asia.

European Robotics Sector Outpacing Global Market Growth

Several factors are driving the growth of the European robotics industry, including technological advancements, government support, and rising labor shortages in sectors like manufacturing and logistics. Additionally, there is a growing demand for automation in industries such as automotive, healthcare, and agriculture. These elements have collectively contributed to a nearly 50% increase in the robotics market over the past five years, bringing its value to $17.1 billion. This impressive double-digit growth trend is expected to continue, with Europe outpacing both the U.S. and China.

A Statista survey predicts that the European robotics industry will achieve a remarkable 68% growth in the next five years, adding over $10 billion in value. In contrast, the North American market, which is predominantly driven by the United States, is projected to grow by 53% over the same period, contributing more than $6 billion in value. Meanwhile, the Asian market, which includes robotics powerhouses like South Korea and China, is expected to experience a growth rate of 51%, reaching a value of $23.2 billion within five years.

Statistics indicate that the growth of the European robotics sector will outpace that of the overall market. The global robotics industry is forecasted to grow by 58%, reaching a valuation of $73 billion by 2029.

Europe Leads in Growth Rate, Asia Dominates in Robot Numbers

Despite Europe’s rapid growth, it still trails behind Asia in terms of the total number of robots. Asia remains the leader, home to three of the five most automated countries: China, Japan, and South Korea. Notably, South Korea boasts an impressive 1,012 installed robot workers per 10,000 employees—seven times the global average.

According to the Statista survey, the total number of robots in Asia, including both industrial and service robots, is projected to reach 23.1 million by 2029, doubling the number from this year. In comparison, Europe is expected to see its robot count rise from 9.3 million to 19.2 million during the same period, which still falls 16% short of Asia’s total. The North American market is anticipated to host approximately 17 million robots by 2029, up from 11.6 million this year.