Europe’s robotics industry is set to grow by 68 per cent, reaching $28.8 billion by 2029, outpacing North America and Asia.

According to AltIndex.com, despite decades of tech rivalry, the United States and China lag behind Europe in robotics sector growth.

Technological advancements, government support, and labour shortages in manufacturing and logistics fuel Europe’s robotics industry, which grew by 50 per cent in five years.

Statista predicts the European robotics industry will grow by 68 per cent in five years, adding over $10 billion in value, surpassing North America’s 53 per cent growth.

Although Europe undoubtedly has the fastest-growing robotics market, the Old Continent is still far behind Asia in terms of the total number of robots.

The Asian lead comes as no surprise, considering it houses three of the five most automated nations on the planet: China, Japan, and the leading South Korea, which counts 1,012 installed robot workers per 10,000 employees, or seven times more than the global average.

Asia leads in the number of robots, with 23.1 million expected by 2029. Europe will see significant growth, reaching 19.2 million robots, still 16 per cent less than Asia.