Denmark's robotics figures raise questions

Denmark, in particular Odense, is generally regarded as a model for a possible robotics cluster. This is demanded for Germany by the German Robotics Association, among others. This is not without reason, as renowned robotics companies such as Universal Robots, Mobile Industrial Robots or Blue Ocean Robotics come from this rather small country. I was therefore all the more pleased to download the Danish annual report in the expectation of receiving detailed figures.

Sales increase is below that of the "Old-Robotic"

The report reports an increase in sales in 2021 of 12% compared to 2020 to 2.8 billion euros. Exports would have increased from 1.3 to 1.5 billion euros (p. 15). All considerable figures. The report also mentions the almost sensational success of cobot manufacturer Universal Robots and Mobile Industrial Robots, which grew by 40% (p. 4). But what remains of the Danish sales increase when it is reduced by the figures of the two companies?

Of the 418 Danish companies surveyed, the two listed (and certainly Blue Ocean Robotics) would have grown strongly, if the figures are correct. The rest, however, would ultimately have grown less than the established companies or the industry average. The Danish remainder may include older robotics companies. It is difficult to infer a role model function. It is possible that the figures are not correct.

Hardly any new capital

P. 19 of the report linked at the beginning could at the same time imply the correctness of the figures: Since 2018, only about 50 million euros have been invested annually in robotics companies. Thus, there seems to be a lack of interesting targets. By contrast, the much larger Germany had some significant 2-digit funding rounds in 2021. (Blue Ocean Robotics received a higher 2-digit amount right at the beginning of 2022 - link.)

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The author of this blog is significantly involved in the AI/robotics project Opdra. He advises robotics companies and investors on market analysis and funding/subsidies. More about him can be found here.