BEIJING, Aug. 17, 2018 /PRNewswire/ -- HIT Robot Group ("HRG" or "the Group"), one of China's leading robot manufacturers, presented the Analysis Report on Robot Industry in China 2018 alongside its new "Robotics Biosphere" business model during the World Robot Conference 2018, held from August 15-19 in Beijing.
Jointly conducted and produced by HRG, the China Institute of Science and Technology, and HIT Insights, the analysis report showed the latest trends and challenges of the robotics industry in China. The report evaluated the status of the country's supply chain, highlighted obstacles, and predictions on potential future developments. The report aims to support industry leaders, startups and investors to make better-informed decisions in a fast-paced, dynamic industry.
Under the national strategic plan "Made in China 2025," the market scale of the Chinese robotics industry has rapidly expanded. In 2017, China's robotics industry reached a market scale of RMB 120 billion (approx. US$17.44 billion) with a 25.4 per cent year-on-year increase; a world-leading growth rate, as suggested by the report.
"Our newly-released report highlights the problems we are facing in the industry and the trends we see now," said Zong Xiao, Senior Vice-President of HIT Robot Group, in a keynote speech at the conference. "The products and robotics solutions we brought here today are designed to alleviate some of those problems and those we've seen from first-hand experience," he said.
The report predicts that the industry will see more technological breakthroughs as the market continues to accelerate. Industries of note included the logistics, educational, and medical sectors where the demand for robotics solutions remains high.
In a bid to further act on market trends and support enterprises within the industry, HRG has established the "Robotics Biosphere". A new business model and comprehensive set of services for companies at various business stages. The innovative new model provides a full-industry chain service, from research to core product development, incubation and to-market strategy, helping convert technological R&D breakthroughs into profitable enterprises.
"We've established several institutes across China to develop robots across different sectors, incubate startups, and facilitate companies to sustain their business," said Zong. "We've been making efforts to provide a platform for players in the robotics industry, with a focus on R&D, startup incubation, talent cultivation and market investment," he said.
To date, HRG has six institutes operating in six cities, with three institutes under construction. Each institute has a specific focus developing solutions for different markets, including smart factories, industrial robots, service robots, entertainment robots, and customized robotics.
During the conference, the Group also displayed over 50 cutting-edge products and signed several partnerships with participating manufacturers, including:
About HIT Robot Group
HIT Robot Group (HRG), founded in 2014, is one of China's leading robotics companies. It focuses on manufacturing a range of robots and robotic equipment for different industries and is a solution and service provider for technology companies. Currently, HRG has a presence in 16 major Chinese cities and overseas offices in Washington D.C., California, Frankfurt, Seoul and Tokyo.
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