According to an article published today in the 21st Century Business Herald, China’s service robot market reached $1.84 billion. This indicates that the service robot market has grown by nearly 44% year-on-year, which is higher than the global average rate of change.
Traditional factories or departments are turning to automation to increase efficiency and cut labor costs, primarily in the medical and education industries. According to a report by the China Electronics Society in August 2018, the food service and catering industry are lagging behind, but there is great hope in the future. Most companies involved in catering automation are A and B rounds of financing.
Unmanned and automated restaurants began to appear in China. China's online retailer Jingdong Mall opened its first uninhabited restaurant “X Future Restaurant†in Tianjin last November, and plans to open another 1,000 by 2020. The restaurant is equipped with a service robot that accepts orders, offers refreshments and meals, and is managed by a central artificial intelligence system. In July last year, Chinese e-commerce giant Alibaba opened a seafood restaurant called "Robot.HE" in its box horse supermarket. The plan is to expand overseas. The popular hot pot chain, Haidilao, has robotic arms and transport robots for their cold rooms in Beijing.
The maturity of artificial intelligence and human-computer interaction technology, coupled with the rapid ageing of the population, is expected to steadily increase the demand for service robots. ResearchInChina, an independent business intelligence provider in China, is an independent business intelligence research company that predicts that the market will continue to grow at a rate of 20% per year in the next few years and reach a total valuation of $4.9 billion by 2022.
Our policies encourage the development of artificial intelligence, automation and robotics. In 2016, the authorities released the robot industry development plan, which outlines the goals and strategies for developing the robot industry in the next five years. PricewaterhouseCoopers predicts that China will become the *big winner of global artificial intelligence applications. The adoption of these new technologies will increase China's GDP by 26% by 2030, and on average, world GDP will increase by 14%.
* They agree that the widespread adoption of robotics and automation will inevitably disrupt the labor market. Another report by PricewaterhouseCoopers estimates that about 26% of existing jobs in China may be replaced by automation in the next 20 years. This number is higher than many countries. However, the report shows that additional work provided by staff and related technologies will offset unemployment; robots, drones and self-driving cars. The report concludes that the transition to automation will result in a net increase of 12% in China's job market.
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