The 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.
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.
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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.
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.
Regional Analysis
Geographically, the market is segmented into APAC, Europe, North America, and the Rest of the World. APAC dominates the household robot market. Increasing investment towards household robot industry spurs the market in APAC.
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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Household Robot Market SizeIncreasing 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.
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.
Market AnalysisMarket Research Future (MRFR) estimates the Household Robot Market to surpass USD 8.5 billion at a CAGR of 15.5% from 2020 to 2027 (forecast period).A household robot is a type of service robot that aids humans by performing an activity or a job.
It can easily connect to WI-FI networks and performs activities with a high degree of autonomy.
The global household robot market is predicted to expand dramatically in the future years.The global household robot market is being pushed by rising demand for autonomous robots, more awareness of robotics applications, greater safety concerns, and rapid technological improvement.
Changes in consumer behavior as a result of global economic turbulence are expected to have an impact on the household robot industry over the forecast timeframe.Governments all around the world have imposed lockdowns, affecting the majority of industrial players and forced people to stay at home, restricting physical contact among people.
The constraints imposed on production activities in order to adhere to social distancing standards are anticipated to hinder the growth of the electronics sector, limiting the global household robot market's growth.The COVID-19 crisis has caused widespread disruption in the electronics industry.
Governments all across the world have imposed travel bans.
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.
The growth sectors of the Household Robot Market Size are identified with precision for a better growth perspective.The global household robot market is expected to cross USD 8.5 Billion by 2025 at a CAGR of 15.5%.FREE PDF@ https://www.marketresearchfuture.com/sample_request/8196Market SynopsisAdvances in the robotics industry have ensured cost effective robots engineered for specific domestic and household tasks.According to the International Federation of Robotics, household and entertainment robots sold approximately 42 million units between 2016 and 2019.
Mass production and lowering costs for domestic robots will fuel this segment.Entertainment: A growing segment which includes robotic pets, robotic companions and even educational robots geared for children.
According to The Telegraph, a fully charged Husqvarna Automower can maintain 5000 square meters of lawn.
This market is limited by the high cost of a unit.Laundry robots: According to The Robot Report, The US alone spends 800,000 man-hours a day folding over 120 million items.
Ecovacs (China): catering to the Chinese demand for domestic robots, Ecovacs is particularly well known for its window cleaning WINBOT series.
Alfred Kärcher (Germany): Driving innovation and emphgasising robot quality, this company is prized for its cutting edge household robots such as the smart RC 3 house cleaner.Lego (Denmark): Catering to the robot toy market, Lego’s Mindstorm kits are packages of disassembled robots which children can assemble, program and reprogram.
