TECH SUPPLIER Mar 2020 - Market Forecast - Doc # US44623420

China Robotics Market Forecast, 2019−2023

By: Jing Bing Zhang, Vijay Sarathi GollapalliResearch Manager, Sahadev Kadri Ananda

Abstract

This IDC study provides a five-year forecast of the China robotics market for the 2019–2023 period. This forecast data consists of end-user spend in robots and related hardware components, application software, and consulting and systems integration services, as defined in IDC's Worldwide Semiannual Robotics and Drones Spending Guide Taxonomy, 1H19 (IDC #US44737219, October 2019).

"The China robotics market is forecast to grow at a high CAGR of 26.2% to reach US$103.6 billion in 2023, primarily led by manufacturing, consumer, retail, healthcare providers, and resources industries," said Dr. Jing Bing Zhang, research director, Worldwide Robotics and Asia/Pacific Manufacturing Insights, IDC Asia/Pacific. "The outbreak of the COVID-19 coronavirus in January 2020 is expected to have a positive spin on the deployment of robots for healthcare as well on the use of robots as a means to increase operation capacity in labor-intensive verticals," added Zhang.


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