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APAC robotics spend set to reach US$162b by 2021

APAC robotics spend set to reach US62b by 2021Spending on robotics (including drones) and related services in the Asia-Pacific region is expected to reach US$66 billion in 2017, according to IDC.

IDC expects robotics spending to accelerate over the five-year forecast period of 2017-2021, reaching US$162 billion in 2021 with a CAGR of 25.2%. This represents over 70% of the world's total robotics market in 2021.

This new robotics spending guide now includes data on commercial and consumer purchases 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.

"The convergence of robotics and artificial intelligence technologies are accelerating the development of the next generation of intelligent robots for industrial, commercial, and consumer applications," said Jing Bing Zhang, research director of robotics at IDC Manufacturing Insights.

"Intelligent robots with innovative capabilities such as cognitive interaction, self-diagnosis, and learning are emerging and driving wider adoption of robotics in many industries including manufacturing, resources, healthcare, retail, and so on,” said Zhang.

China dominates the Asia-Pacific robotics market, with spending on robotics and related services expected to reach US$74 billion in 2021. This represents 45.7% of Asia Pacific's total spending in the next five years.

From a technology perspective, Asia-Pacific spending on robotic systems is expected to grow to US$92 billion in 2021.This includes industrial, service and consumer robots and after-market robotic hardware.

Meanwhile, services-related spending, which encompasses application management, education and training, hardware deployment, system integration, and consulting, will grow to over $44 billion in 2021.

First published in Enterprise Innovation