The market for industrial robots in China this year may grow by 5% after the recession in 2018

According to forecasts of the Chinese Institute of electronics, this year the robotics sector in China will amount to 8.68 billion dollars. In particular, the market for industrial robots this year will amount to 5.73 billion, the market for service robots - $ 2.2 billion.

The industry Association of China Robot Industry Alliance (CRIA) predicts that the market for industrial robots in China this could increase by 5%, while sales of Chinese brands has grown by around 15%.

From 2010 to 2017 robotics market in China grew on average by 35 percent compared to the world average rate of 15 percent. However, last year in China for the first time recorded a drop in sales of industrial robots by 1.73 percent. Growth in the global robotics industry slowed to approximately 1 per cent, say in CRIA.

As the Director of investment Siasun Robot Investment Co Ltd Ren Chunnin, reducing the number of industrial robots in China is partly a result of compression of the automotive sector, which remains one of the largest customers of this type of equipment.

"But because the robots are becoming smarter with the help of artificial intelligence, the market for service robots will grow exponentially. The demand for them and on medical robots will be huge in the future, given the growing number of elderly people in China," he says. Robots will be widely used in sectors with custom products.

the Minister of industry and information technology Miao Wei said that the global robotics industry this year grew more slowly due to the difficult international situation.

He said that China will increase efforts for a breakthrough in key technologies, and promote the use of industrial and service robots for businesses and in everyday life.