According to the Chinese Institute of Electronics, China’s service robot market is accounting for more than a quarter of the global market and is expected to exceed US$4 billion in 2020. Research conducted by the institute shows that the global robot market in 2019 was around $29.41 billion, among which service robot accounted for $9.46 billion, a year-on-year increase of 14.1 percent. The size of China’s robotics market was approximately $8.68 billion in 2019 and the service robot market was valued at $2.2 billion. (Source)
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