Asia Pacific Spending on Robotics Will Reach $133 Billion by 2020

January 19, 20178:02 am424 views

Asia Pacific spending on robotics and related services will more than double, growing from $60 billion in 2016 to over $133 billion in 2020 – a compounded annual growth rate (CAGR) of 22%, according to findings released in IDC Worldwide Commercial Robotics Spending Guide.

This new robotics spending guide includes data on commercial and consumer purchase of drones and after-market drone hardware in addition to spending data on robotic systems, system hardware, software, robotics-related services, and after-market robotics hardware.

“Robotics continues to drive the current wave of industry transformation and upgrade, which is set to disrupt many aspects of business operations, leading to tremendous improvement in operational agility, responsiveness and customer experience,” says Dr. Jing Bing Zhang, Research Director, Worldwide Robotics and Asia Pacific Manufacturing Insights, IDC Asia/Pacific.

“In Asia Pacific, we are seeing accelerated growth in robotics adoption beyond manufacturing, especially in commercial and consumer service robotics,” adds Dr. Zhang.

See: AI and Robotics Will Significantly Increase the Value and Efficiency of Asian Businesses

Asia Pacific is the fastest growing robotics market led by China, Korea and Japan, and will account for more than two thirds of worldwide robotics spending throughout the 2016-2020 forecast period, reaching over 70 percent by 2020.

Manufacturing continues to dominate Asia Pacific spending in robotics, with discrete and process manufacturing accounting for 33 percent and 28 percent respectively in 2016. This is followed by resources, consumer, and healthcare industries in terms of overall robotics spending.

From a technology perspective, Asia Pacific spending on robotic systems which include industrial, service and consumer robots and after-market robotic hardware, is forecast to grow to $64 billion in 2020.

Services-related spending, which encompasses application management, education and training, hardware deployment, system integration, and consulting, will grow to over $36 billion in 2020.

The Worldwide Commercial Robotics Spending Guide quantifies the robotics opportunity from a region, industry, use case, and technology perspective. Spending data is available for more than 52 use cases across 13 key industries in eight regions.

Also read: Will the Coming Age of Robotics Spell the End of Many Job Roles?

Image credit: wonderfulengineering.com

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