Robotics & Automation in China: Leading the Way Into the Future
China has been rolling out their “Next Generation Artificial Intelligence Development Plan” where they outline its goals of production and consumption of robotics over the next 20 years. Research firm Tractica forecasts that the Asia Pacific region will be the largest robotics market in terms of both shipments and revenue by 2030. Looking at total robotics shipments by region:
China is leaning on its strength in hardware and aiming its growth to both Chinese and non-Chinese original equipment manufacturers where it is focusing on robot demand and supply. Industrial robot growth will continue to push demand in Asia Pacific making up more than 70% of industrial robot revenue by 20205 according to Tractica. North America is estimated to have a 30% share of the non-industrial robot revenue by 2025.
Looking at robotics revenue by region:
China has begun to adopt industrial robots as the government is pushing to increase automation and productivity gains and thus, has seen an increase in wages and a growing middles class. Tractica calls China a growing robotics innovation hub that is providing an opportunity to create new product lines around non-industrial robots.