Over the past five years, the average annual growth rate of China’s robot industry has approached 30%, though core technologies are yet to see major breakthroughs, The Paper reported.
According to Miao Wei, Minister of Industry and Information Technology, in 2017, the total value of the robot sector in China reached US$7 billion. Of that, the output of industrial robots has exceeded 130,000.
From the perspective of the globe, the value of the global robot industry has exceeded US$25 billion in 2017, growing by more than 20% from a year earlier.
Also, it is expected to reach $30 billion by 2018, according to statistics from the International Federation of Robotics.
Although the robot industry has developed rapidly, it still faces many challenges, said Miao. Core technology has yet to see key breakthroughs.
The application area needs to be further expanded and the legal and regulatory system must also be improved.