Europe’s Robotics Market Expected to Reach $15.7 Billion by 2022

Published by , November 14, 2016 1:52 am

(YahooFinance)  Research and Markets has announced in the addition of the “Europe Robotics Technology Market (2016-2022)” report that the Europe Robotics technology market is expected to grow at a CAGR of 10.3% during the forecast period (2016-2022). The Europe market for industrial robotics is expected to reach $15.7 billion by 2022 at a CAGR of 8.5% during the forecast period (2016-2022). On the other hand, the market for Service robotics would rapidly grow during the forecast period due to its growing adoption in healthcare and domestic sector.
Wide range of robots are already finding place in the business world for diverse activities such as industrial robots, service robots, and mobile robots. Among the aforementioned robots available, the industrial robots hold a major share in the market, largely due to its wide adoption in the manufacturing sector for automating processes.

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