PR1
Market USP
Rising interest in the growth of robotic technology worldwide and increased cost efficiency in the manufacture of household robots.
Inter-Market Dependency
By Component
- Global 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. The global household robot market is forecast to reach USD 8.5 billion by 2025. 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 Type
- Global 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. Companies such as Blue Frog Robotics cater exclusively to this market.
By Application
- Household Electronic Appliance Market: This large and competitive market is capitalizing on the growth of allied markets such as electronics, semiconductors, and AI to automate domestic appliances. Labor-intensive chores such as vacuuming and window and pool cleaning are gradually being automated, which is directly contributing to the growth of the house cleaning robot segment.
- Lawn Care Products Market: Lawn care and maintenance is a highly labor-intensive activity that can easily be handled by robots with numerous robots created specifically for lawn maintenance. Companies such as Robomow almost exclusively manufacture lawn mowing robots.
- Companion Robot Market: Social withdrawal is becoming an increasingly common phenomenon with a large number of individuals in developed countries living virtually isolated lives. The problem is severe enough for the UK to include loneliness in the remit of the Minister for Sport and Civil Society and for the Japanese government to recognize it as a medical condition called hikikomori. Robotic companions are increasingly being adopted by isolated individuals to meet their companionship needs and reduce the effects of loneliness on mental health. Advances in AI and increased affordability are resulting in the growth of the companion robot market with good returns on investment.
- Robotic Toys Market: The robotics toys market comprises educational robots, pet robots, and hobby robots. For example, Lego offers the Mindstorm make-it-yourself robot kits.
- Elder Care Services Market: A growing geriatric population in Germany, France, Japan, and China with sub-replacement fertility has resulted in the need for alternatives to human caregivers. Japan is spearheading innovation of elderly assistance robots and there is a growing demand for such robots in Germany and China. Compliance with ISO 13482:2014 is required for classification as an elderly assistance robot with emphasis placed on ensuring the safety of users.
- Household Laundry Appliance Market: Laundry robots can typically fold laundry faster and more efficiently than humans. Technological advancements in smart laundry appliances have mostly been limited to washing and drying; however, companies are not turning their focus to the automation of the cumbersome process of folding laundry. Automated laundry systems that can handle washing, drying, and folding are in the development stage and have the potential of revolutionizing the household laundry appliance market.
- Household Appliance Market: The pinnacle of the household appliance market is fully automated platforms that can perform multiple tasks with minimum instructions. Robot butlers and kitchen assistants fall under this category. They require advanced AI, seamlessly integrated mechanical parts, and state-of-the-art sensors. Though expensive, these robots offer the potential for growth if the production costs are reduced; this is being enabled by the gradual reduction of cost of the individual components required in these advanced machines.
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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.
