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In 2017 the scope of the global robot market is expected to reach US$23.2 billion, with an average yearly growth rate of 17% from 2012 to 2017. Furthermore, Mainland China is already the world's largest market for industrial robots and accounts for one-third of the global market.
At present, China is embracing smart manufacturing, and the industrial robot market is expected to experience great prosperity. It has been predicted that this year sales of industrial robots will exceed 110,000 units with a market scope of US$4.22 billion, and by 2020 the market scope in Mainland China is expected to expand to US$58.9 billion.
In addition, as the population rapidly ages, demand for medical and educational services will increase significantly. Therefore, there is tremendous market potential for Chinese service robots with plenty of space for development. This year the scope of the Chinese service robot market will surpass US$1.32 billion with an annual growth rate of approximately 28%.
(TR/ Phil Sweeney)
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