Machine-Masters hold Europe
Growth of Robotic Business Incubators Predicted to Augment the Rise of the European Industrial Robotics Market Until 2020, Says Technavio
LONDON–(BUSINESS WIRE)–According to the latest research study released by Technavio, the European industrial robotics market is expected to record a CAGR of more than 8% until 2020.
The European industrial robotics market is expected to record a CAGR of more than 8% until 2020, according to Technavio.
This research report titled ‘European Industrial Robotics Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for end-user segments, including automotive, food and beverages, industrial machinery, and electrical and electronics.
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Business incubators in Europe are helping robotic start-up companies get the required funding and professional support. The number of European incubators have therefore significantly increased with a jump of 360% from 2007 to 2014. In the UK and France, most incubators are concentrated around the national capital, and in countries such as Spain and Sweden, these are spread throughout the territory. These incubators provide innovation support to disseminate the technology and competence to robotic ventures across Europe,” said Bharath Kanniappan, one of Technavio’s lead analysts for robotics research.
Robotdalen, an incubator organization, has introduced industrial robots to over 170 SMEs in Sweden since its establishment in 2003. It draws on local universities to provide students who can work with SMEs to introduce robots. The teams assembled by Robotdalen are helping SMEs take up robots, by looking at their business processes. Robotdalen is a part of the VINNVAXT program, organized by VINNOVA, which is the Swedish government agency that invests in making Swedish SMEs competitive internationally.
European industrial robotics market by end-users 2015
Food and beverage 27.16%
Industrial machinery 14.56%
Electrical and electronics 11.23%
Source: Technavio research