Increasing interest in the development of robotic technology globally and surged cost efficacy in the making of household robots primarily drive the household robot market. According to the analysis done by Market Research Future, the global robotics market is expected to develop to USD 93 bn by 2024 at a CAGR of 15.5% throughout the review period of 2019 to 2024. The worldwide household robot market is predicted to attain USD 8.5 bn by 2025. Giant players like LG Electronics Inc., Samsung Electronics Co Ltd., Husqvarna employ their technical know-how in making industrial robots to manufacture cost-effective and efficient household robots, which is propelling the market growth. The application of robots encompasses services such as maintenance, installation, reprogramming, and repair. While the household robot services segment comprises a small segment of the market, manufacturers can exploit the prevailing infrastructure to offer quality service for household robots. The development of the worldwide consumer electronics market is surging the upgradation of electronic elements that are crucial for the cost-effective making of robots.
The worldwide household robots market benefits directly from this advancement and an expanding number of household applications can now be automated easily. Robots with progressive AI are gaining popularity increasingly as companions and pets. The progressive heuristic learning abilities of entertainment robots adds worth, accelerating demand. Enterprises like Blue Frog Robotics cater exclusively to this market. This competitive and large market is capitalizing on the expansion of related markets such as semiconductors, AI, and electronics, to automate domestic applications. Labor-intensive chores like window and pool cleaning, and vacuuming are consistently being automated, which is contributing directly to the expansion of the house cleaning robot segment. Lawn care and maintenance is an extensively labor-intensive task that can easily be accomplished by robots with several robots made specifically for lawn maintenance. Enterprise like Robomow almost exclusively make lawn mowing robots.
Furthermore, social withdrawal is turning into an increasingly common occurrence with a large number of population residing in developed economies leading virtually secluded lives. The problem is critical enough for the UK to encompass loneliness in the remit of the Minister for Sport and Civil Society and for the government of Japan to identify it as a medical incidence called hikikomori. Robotic firms are largely being adopted by isolated people to meet their companionship requirements and curb the impact of loneliness on mental wellbeing. Progressions in AI and surged affordability are leading to the development of the companion robot market with fair returns on investment. Besides, the robotics toys market includes pet robots, hobby robots, and educational robots. For instance, Lego came with the Mindstorm make-it-yourself robot kits. A rising aged population in France, Germany, China, and Japan, with sub-replacement fertility has led to the need for replacement of human caregivers. Japan is pioneering innovation of elderly caregiver robots and there is an accelerating demand for such robots in China and Germany. Compliance with ISO 13482:2014 is needed for categorization as an elderly assistance robot with focus placed on enabling the safety of usage. Laundry robots can fold laundry faster and more effectively than humans. Technological progressions in smart laundry applications have mostly been restricted to drying and washing, however, the manufacturers are not turning their focus to the automation of the intricate procedure of folding laundry.
Automated laundry frameworks that can handle drying, folding, and washing, are in the nascent stage and have the ability to revolutionize the household laundry appliance market. The prominence of the household appliance market leads a fully automated platform that can participate into several tasks with minimum interference. Robot kitchen assistants and butlers fall under this section. They need seamlessly incorporated mechanical parts, state-of-the-art sensors, and advanced AI. Although expensive, these robots extend the potential for development if the production costs are curtailed; this is being supported by the gradual decline in cost of the individual parts needed in the advanced machines.
Market Segmentation
The global household robot market is segmented based on type, application, and region. Based on type, the market is segmented into domestic and entertainment robots. Based on application, the market is segmented into house cleaning, lawn mowing, companionship, toys and hobby systems, elderly care assistance, laundry robots, and others.
Key Players
Key Players dominating the market include Samsung Electronics Co., Ltd., IRobot, Neato, LG Electronics Inc., Lego, Dyson, Ecovacs, and John Deere.
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Industry InsightThe study on the Global Household Robot Market in 2020 by Market Research Future has been conducted with the bird’s eye view of the current proceeding within the household robot industry.
Owing to the rise in penetration of robots in household applications, a rise in technological advancements, and a surge in cost for labor service, a bright outlook for household robots can be seen in the approaching years.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/8196Other factors influencing the household robot market are the rapid urbanization, industrialization, awareness, and product development among consumers.
The rise in R investments focuses on improving the endurance capability of robots is ready to form profitable opportunities for the growth of the household robot market in the future timeframe.Segmentation of MarketThe segmentation of the global household robot market has been done in the following ways:In terms of component: The market has included products and services.
The services, though not commanding the large share of the products segment, are critical as it oversees the installation, maintenance, and reprogramming of robots.In terms of type segment, the market has included domestic and entertainment.
The entertainment segment is growing as it includes robotic companions, robotic pets, and even educational robots geared for children.
Advances in AI and voice recognition technology are actively fueling the growth of this segment.In terms of the application segment, the market has included elderly assistance, housecleaning lawn mowing, toys & hobby systems, companionship, laundry robots.
The growth sectors of the Household Robot Market are identified with precision for a better growth perspective.Increasing interest in the development of robotic technology globally and surged cost efficacy in the making of household robots primarily drive the household robot market.
Giant players like LG Electronics Inc., Samsung Electronics Co Ltd., Husqvarna employ their technical know-how in making industrial robots to manufacture cost-effective and efficient household robots, which is propelling the market growth.
The application of robots encompasses services such as maintenance, installation, reprogramming, and repair.
Robots with progressive AI are gaining popularity increasingly as companions and pets.The progressive heuristic learning abilities of entertainment robots adds worth, accelerating demand.
This competitive and large market is capitalizing on the expansion of related markets such as semiconductors, AI, and electronics, to automate domestic applications.
Furthermore, social withdrawal is turning into an increasingly common occurrence with a large number of population residing in developed economies leading virtually secluded lives.The problem is critical enough for the UK to encompass loneliness in the remit of the Minister for Sport and Civil Society and for the government of Japan to identify it as a medical incidence called hikikomori.
Household Robot MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Household Robot Market.
The growth sectors of the Household Robot Market are identified with precision for a better growth perspective.Rising interest in the growth of robotic technology worldwide and increased cost efficiency in the manufacture of household robots.Inter-Market DependencyBy ComponentGlobal Robot Market: According to MRFR analysis, the global robotics market is slated to grow to USD 93 billion by 2024 at a CAGR of 16% during the forecast period of 2019 to 2024.
Companies such as Samsung Electronics Co Ltd., LG Electronics Inc., and Husqvarna utilize their technical expertise in creating industrial robots to manufacture efficient and cost-effective household robots, which is fueling market growth.Global Robot Services Market: The use of robots entails services such as installation, maintenance, repair, and reprogramming.
While the household robot services segment constitutes a small section of this market, providers can utilize the existing infrastructure to provide quality service for household robots.By TypeGlobal Consumer Electronics Market: The growth of the global consumer electronics market is fueling the innovation of electronic components that are critical for the cost-effective manufacturing of robots.
The global household robots market directly benefits from this innovation and an increasing number of household appliances can now be automated with ease.Global Entertainment Robot Market: Robots with advanced AI are increasingly in demand as pets and companions.
The advanced heuristic learning capabilities of entertainment robots adds value, fueling demand.
Household Robot Market 2021-2027New Study Reports " Global Household Robot Market 2021, Trends, Market Share, Industry Size, Growth, Opportunities Forecasts 2027" has been Added on MarketResearchFuture.Summary:Starting with the overview of the Household Robot market, it presents an overall analysis of the latest trends that are prevalent in the industry.
The company profiling and market price analysis in relation to the value chain features is also covered in the report.
A multitude of potential growth factors, risks, opportunities, constraints and the threat by new entrants is also mentioned in the report.
Owing to the rise in penetration of robots in household applications, a rise in technological advancements, and a surge in cost for labor service, a bright outlook for household robots can be seen in the approaching years.Other factors influencing the household robot market are the rapid urbanization, industrialization, awareness, and product development among consumers.
Besides, a considerable rise in demand for autonomous robots, upsurge in recognition of robotics applications, the surge in concern for safety, and continuous swell in technological advancements drive the household robot's market growth during the forecast period.Despite these factors, the issue of high initial investments is one of the factors hampering the growth of the household robot market.
The rise in R investments focuses on improving the endurance capability of robots is ready to form profitable opportunities for the growth of the household robot market in the future timeframe.Complete Report Details@ https://www.marketresearchfuture.com/reports/household-robot-market-8196Key PlayersThe report has profiled some of the Important players prevalent in the global like – Samsung Electronics Co. Ltd (South Korea), iRobot (US), Neato (US), LG Electronics Inc (South Korea), Ecovacs (China), Dyson (UK), Alfred Kärcher (Germany), Lego (Denmark), iLife Innovation (China), Robomow (Israel) and Husqvarna (Sweden) and more.This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Household Robot.Segmentation of MarketThe segmentation of the global household robot market has been done in the following ways:In terms of component: The market has included products and services.
