What Are the Prospects of Robotics Market in China for 2020? | Analytics Insight
The trade tension between the US and China and global economic slowdown specifically in automotive manufacturing are the two factors that are affecting the robotics market in China. However, political support for domestic innovation and interest in supply chain automation can possibly encourage the growth in 2020.
The International Federation of Robotics (IFR) had predicted earlier that China could be the main driver for a 14 percent annual average growth of the global robotics market until 2021. But later the organization lowered its expectation observing the market downturn. However, experts expect that this could be the beginning of a phase of gradual growth in China.