China’s service robot market expected to exceed 75bn yuan in 2023

China’s service robot market is projected to reach 75.18 billion yuan in 2023, says China Securities Journal which quoted an expert from CCID Consulting.
China has rolled out a basket of policies to bolster healthy development of the service robot industry in recent years, said Yao Yinguo, an analyst with the Intelligent Equipment Industry Research Center of CCID Consulting.
After years of development, China has now realised layouts in the whole industrial chain of service robots, with a complete industrial ecosystem and on the whole.
The industrial chain can be divided into three links: the upstream key parts and software, the midstream robot body manufacturing and the downstream terminal application, added Yao.
Yao noted that the service robot industry had ushered in a number of favourable factors for development, including opportunities in medical services brought by increasing aging population and regular epidemic prevention and control………..TO CONTINUE READING CLICK ON

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