Robots refer to mechanical equipment that are designed to work autonomously on behalf of humans. Robots are capable of initiating pre-programmed actions or work within the parameters of Artificial Intelligence. Robots are normally categorized into industrial robots, service robots and special robots. The upstream and midstream portions of the robot supply chain is responsible for providing functional parts, bodies and control systems for downstream clients.
According to industry sources, Chinese cosmetic brand Perfect Diary has completed a new round of funding worth over USD 1 billion with participation from top investment funds in China, some of which included Hillhouse Capital, Sequoia China and Chinese Culture Group. This has served to create a large amount of momentum for the company.
According to the report published by the Daily Economy and the China Index Academy, the housing and real estate market in the Yangtze River Delta is the largest in size, with over CNY 2500 billion in real estate investments and 250 million square meters in sales.
The Global Robotics market is projected to reach a size of USD 29.41 billion by the end of 2019 at a CAGR of 12.3% for the period between 2014 and 2019 according to the report on the Chinese Robotics Industry released by the Chinese Institute of Electronics during the previous week. The industrial robot market is projected to reach a size USD 15.92 billion, while the service robot and the special robot markets are projected to reach sizes of USD 9.46 billion and USD 4.03 billion respectively.
Service robotics are categorized into domestic robots and service robotics according to IFR standards. Service robots have a wide range of applications, and are used in maintenance, repair, logistics, cleaning, security, rescue and surveillance. AI has entered into a third period of rapid development after the proposal of the deep learning model proposed in 2006. The service robot market has been developing alongside an increase in applications.
The Chinese National Network Information Center (CNNIC) has released its 44th report on the development status of the Internet in China. The report notes that total netizen count was listed as 854 million by the end of July, adding a total of 25.98 million people to the number of netizens in the first half of 2019