Five Industries Lead the Growth of China Robotics Market, IDC Reports
SINGAPORE – The latest update of the IDC China Robotics Market Forecast, 2018−2022 reveals that the robotics market in China is expected to grow at a high compound annual growth rate (CAGR) of 26.9% from 2017 to 2022 to reach US$80.5 billion, or 38.3% of the world’s total spend in robotics, by 2022. IDC data shows five industries leading the growth of the China robotics market namely, Discrete Manufacturing, Process Manufacturing, Consumer, Retail, and Healthcare Provider.
“With experience and knowledge accumulated over the past few years, end users of robotics in China are becoming more sophisticated and demanding,” says Dr. Jing Bing Zhang, Research Director for Worldwide Robotics and Asia/Pacific Manufacturing Insights at IDC. “This presents both opportunities and challenges to robot vendors as well as solution providers. Taking a customer-centric approach, investing to understand end users’ true needs and pain points, and delivering maximum business values will prove to be key to success in the China market,” adds Zhang.
This IDC study provides a five-year forecast of the China robotics market for the 2017 to 2022 period. The forecast data consists of end-user total spend in robots (including drones) and the related hardware components, application software, and consulting and systems integration services.
In addition to the detailed forecast data for 64 use cases across 20 industries in China, this report provides an analysis of the key drivers and inhibitors influencing and shaping the robotics market in China over the next few years, as well as advice to robotics ecosystem technology suppliers.