(Business Insider) — The International Federation of Robotics has announced that sales of robots in China are set to almost triple by 2018, defying a slowdown in the country’s wider economy. Frankfurt-based IFR said in a statement that annual robot sales to China would jump to 150,000 by 2018, up from 57,000 in 2014. “The robotics industry is exhibiting rapid growth – completely unperturbed by the current economic fallow period experienced by other areas of Chinese industry,” China Robot Industry Alliance Secretary General Song Xiaogang said in IFR’s statement.
China has identified robotics as a major area for growth amid labor shortages and fast-rising wages. China’s robot market is still dominated by foreign players like ABB, Kuka, and Yaskawa, but China is encouraging its own robot makers with subsidies and the number of Chinese robotics firms is growing fast.Tags: ABB, International Federation of Robotics, Kuku, robotics, Song Xiaogang, Yaskawa