China's robot market to top US$8.6 billion in 2019: Report

China's robot market is expected to reach US$8.68 billion this year, with an estimated average annual growth of 20.9% between 2014 and 2019, said a report by the Chinese Institute of Electronics.

Photo taken on Aug. 20, 2019 shows industrial robots during the 2019 World Robot Conference in Daxing District of Beijing, capital of China. [Photo/Xinhua]

China's booming robot market will account for about 29.5% of the world's total in 2019, which is estimated at US$29.41 billion, according to the 2019 report on China's robot industry released on the sidelines of the ongoing 2019 World Robot Conference.

In breakdown, China's industrial robot market is expected to exceed US$5.7 billion and its service robot market will reach US$2.2 billion.

Huai Jinpeng, vice chairman of the China Association for Science and Technology (CAST), said China's thriving robot industry will help promote the development of the digital economy and intelligent manufacturing and change the way people work and live.

Open from Aug. 20 to 25, this year's World Robot Conference features more than 700 exhibits of cutting-edge robot technologies and products. It is jointly hosted by the Beijing municipal government, the Ministry of Industry and Information Technology and the CAST.