Global robot market China: Great prosperity of industrial robot industry is coming
The AI robot AlphaGo attracted great attention in the great human-machine Go game and also drove more and more people to focus on the robot market. As a matter of fact, robots have slowly penetrated in our life earlier than we image.
They have been used in warehouses, hospitals, streets and even our families. When they are being closer and closer to us, they naturally have become the “sweet pastry” for investors.
Outlook of global robot market
Robots can be classified by application type into two types: industrial robots and service robots. The main application of robots is the manufacture automation before, but more and more service robots have been currently applied in such service industries as medical service, logistics, family, etc. According to statistics, the size of the global intelligent robot market in 2015 is approximately USD 27.0 billion and it is expected that after ten years such size would reach USD 67.0 billion; the inventory of global industrial robots will increase from approximately 1.48 million at the end of 2014 to 2.33 million at the end of 2018, which translates to a growth rate of 12% annually during the period between 2015 and 2018.
Outlook of Chinese robot market
The release of Made in China 2025 set Chinese robot industry to explode and the favorable policies for the robot industry is far from ending. In March of this year, the Ministry of Industry and Information Technology released the Notice on Conducting Special Project of Pilot Demonstration of Intelligent Manufacture in 2016 and Proposal for Implementation of Special Project of Pilot Demonstration of Intelligent Manufacture in 2016 to clearly define specific targets and make arrangements for the detailed work in 2016. In April, the Ministry of Industry and Information Technology and National Development and Reform Commission jointly released the Robot Industry Development Planning (2016 to 2020) to put forward the 5-year overall target for industry development. In addition, the State Council released in April the Planning of Standardization and Quality Improvement of Equipment Manufacture Industry and required interfacing with Made in China 2025 to promote standardization of key fields.
Under strong support from the government and driven by transformation and upgrade of traditional industries, China’s robot industry has entered the industry formation and rapid development period. Statistics by IHS shows that the value of the Chinese robot market in 2015 has reached USD 1.3 billion, would keep a compound annual growth rate of 20% and will reach USD 3.3 billion in 2020.