China's Embodied AI Sector Sales Grew 22.4% January-May
Sales revenue for China's embodied artificial intelligence (AI) companies increased by 22.4% year-on-year in the first five months of 2024. Industrial purchases of robots in the sector more than tripled.
China's embodied artificial intelligence (AI) sector experienced significant growth in the first five months of 2024, according to recent tax data. Sales revenue for companies in this field rose by 22.4% compared to the same period last year, building on a 13.9% increase in 2023.
Industrial investment in robotics saw a substantial surge. The total value of embodied AI robots purchased by industrial enterprises increased by 2.3 times during January-May. The sector's expansion is also supported by downstream industries, including software, IT services, and scientific research, which saw their sales revenue contribution to the embodied AI sector grow significantly.
Within the embodied AI sector, various segments reported strong performance. Sales from robot body and whole machine manufacturing, AI algorithms and software integration, and system integration and industrial applications saw increases of 30.1%, 24.5%, and 27.9% respectively. The manufacturing of core components also grew by 6.8%.
Geographically, the majority of China's embodied AI industry is concentrated in Guangdong, Beijing, Shanghai, Zhejiang, and Jiangsu provinces. Guangdong Province leads the market, driven by a high number of active businesses and a comprehensive supply chain, accounting for 78.7% of the sector's total sales revenue in January-May.