Thursday, September 29, 2022

China’s service robots to yield ¥75bn in 2023

The improvement of the performance of the robots was driven by technological development and supportive policies.

• June 2, 2021

China’s service robot market is projected to reach 75.18 billion yuan in 2023, says China Securities Journal which quoted an expert from CCID Consulting.

China has rolled out a basket of policies to bolster the healthy development of the service robot industry in recent years, said Yao Yinguo, an analyst with the Intelligent Equipment Industry Research Center of CCID Consulting.

After years of development, China has now realised layouts in the whole industrial chain of service robots, with a complete industrial ecosystem and on the whole.

The industrial chain can be divided into three links – the upstream key parts and software, the midstream robot body manufacturing and the downstream terminal application added Mr Yao.

Mr Yao noted that the service robot industry had ushered in a number of favourable factors for development, including opportunities in medical services brought by the increasing ageing population and regular epidemic prevention and control.

The improvement of the performance of the robots was driven by technological development and supportive policies.

“We believe that the market structure of household robots will decrease year by year, and the market share of public service robots, medical robots and special robots will gradually increase.

“This is because the Covid-19 pandemic has made people aware of the importance of non-contact services.

“Meanwhile, the artificial intelligence technology and human-computer interaction technology demanded by public service robots, medical robots and special robots will be upgraded in the future, which will expedite the marketisation process of such robots,” Mr Yao explained.

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