Global consumer robotics market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 19% during the forecast period.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
Consumer robotics is the next generation autonomous robotics technology. Consumer robots are the type of service robots that are basically used to perform various daily tasks at homes, offices, and in various industries.
Market Dynamics
A surge in the adoption of consumer robots such as household robots, cleaning robots, vacuum robots, and toy and educational robots at homes is a major driving factor behind the growth of the market. Growing adoption of smart home across the globe, increasing technological advancements in autonomous robotics, rising demand of consumer robotics in domestic applications, continuous introduction of various consumer robots by leading market players, a surge in the demand of small-sized domestic robots and rising adoption of technologies such as artificial intelligence and machine learning are expected to improve the growth of the market.
However, one of the major challenges restricting the growth of the consumer robotics market is making the availability of consumer robots in the global market at a reasonable price.
Global Consumer Robotics Market: Segmentation Analysis
By type, the task robot segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. Increasing the adoption of task robots in smart homes across the world to perform various daily tasks such as dust cleaning, pool cleaning, floor washing, and robotics kitchen applications is driving the growth of the market. According to research, MMR expected that smart homes application is to drive the demand of consumer robotics by nearly 39 Mn shipments and approximately 79 Mn homes across the world will have consumer robots in the next five years. Alternatively, the educational robot segment is projected to witness high growth at CAGR of XX% during the forecast period. Increased introduction and demand of educational robots in this period of COVID-19 pandemic to educate and entertain children and students is propelling the growth of the market.
Global Consumer Robotics Market: New Product Launches
Growing adoption of technologies such as artificial intelligence, internet of things, and navigation systems in robotics by various robotics companies such as Boston Dynamics, irobot, Sony Corporation, Anki, and Samsung is flourishing the growth of global consumer robotics market.
In June 2016, Boston Dynamics, the global leader in mobile robotics revealed its robots named Spot which can climb stairs and traverse rough terrain with ease. From Jan 2020, the company has made robot Spot available for anyone via GitHub and in June 2020, the company announced the availability of Spot for the public to buy at a price of $74,500 USD.
In Jan 2020, iRobot the manufacturer of the most popular vacuum robot Roomba announced that the company is working on the latest version of the disc-shaped household helper which might have arms to perform tasks such as dishwashing, food serving, and laundry.
Global Consumer Robotics Market: Regional Analysis
Region-wise, North America held the largest market share in 2019 and is expected to continue its dominance at CAGR of XX% during the forecast period. The US and Canada are major key contributors behind the growth of the market. The growth is attributed to the growing adoption of consumer robots in domestic applications across the region.
Study shows that the US will be the world leader in smart home adoption with the growth rate of 20.9% during the forecast period. Thus, growing adoption of smart homes along with smart robots, smart appliances, and various tasks robots are driving the growth of the market in the NA region.
The objective of the report is to present a comprehensive analysis of the Global Consumer Robotics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Consumer Robotics Market dynamics, structure by analyzing the market segments and projects the Global Consumer Robotics Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Consumer Robotics Market make the report investor’s guide.
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The Scope of Global Consumer Robotics Market
Global Consumer Robotics Market, By Type
• Task Robots
• Security & Surveillance Robots
• Entertainment Robots
• Educational and Personal Robots
• Others
Global Consumer Robotics Market, By Component
• Processors
• Communications Technologies
• Software
• Microcontrollers
• Displays
• Cameras
• Actuators
• Others
Global Consumer Robotics Market, By Application
• Educational
• Domestic
• Industrial
• Healthcare
• Others
Global Consumer Robotics Market, By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Consumer Robotics Market, Key Players
• iRobot Corporation
• Samsung Electronics Co., Ltd
• LG Electronics Inc
• Hasbro, Inc
• WowWee Group Limited
• Parrot SA
• Google Inc
• Honda Motors Company Ltd
• Intuitive Surgical Inc
• MAKO Surgical Corporation
• Neato Robotics
• Dà-Jiāng Innovations Science and Technology Co., Ltd
• 3D Robotics
• Jibo, Inc
• Blue Frog Robotics
• Sony
• Boston Dynamics
• Anki.com
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Market Scenario:A consumer or domestic robot is a service robot primarily designed for human related activities such as household chores, education, entertainment therapy and others.
The global consumer robots market was estimated to generate a CAGR of 19.0 % to reach USD 17 billion during the forecast period ending 2023.Market Dynamics:DriversTechnological drivers such as development of artificial intelligence, machine learning, gesture control, voice and speech recognition, sensor technology and others are the critical drivers of the market.
Demand for substituting hazardous jobs such as drainage and others are other drivers.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/5068RestraintsThe high price of robot installation and maintenance coupled with the lack of awareness in underdeveloped regions are major constraints on the consumer robotics market.
Risk of injuries while handling robots, steep learning curve coupled with complexities in interaction with pets and infants are other restraints that need to be overcome.Segmentation:The global Consumer Robotics Market is segmented into types, components, verticals, and region so as to generate a comprehensive understanding of the market.Type - task robots, surveillance robots, entertainment robots, security robots, educational robots, personal robots, and others.Components - processors, communications technologies, mobile robots, software, cameras, microcontrollers, displays, actuators, sensors, manipulators, power supplies, mobile platforms, wheels, legs, walking, hopping, ball, and others.
The verticals segment is sub-segmented into telepresence robots, healthcare robotics, UAVs, educational robotics kits, and industrial robotics and others.Regions - North America, Europe, Asia Pacific, and rest of the world.Key PlayersSome of the prominent players in the global consumer robotics market iRobot Corporation (U.S), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Hasbro, Inc. (U.S), WowWee Group Limited (Hong Kong), Parrot SA (France), Google Inc. (U.S), Honda Motors Company Ltd. (Japan), Intuitive Surgical Inc. (U.S), MAKO Surgical Corporation (Florida), Neato Robotics (U.S), Dà-Jiāng Innovations Science and Technology Co., Ltd (China), 3D Robotics (U.S.), Jibo, Inc. (U.S.), Blue Frog Robotics (France), among others.Regional Analysis:North America accounts for the largest market share led by the U.S. owing to faster adoption of new technologies, large income, technological ecology, presence of major players and others.
Europe accounts for the second largest market share led by Germany, France and the U.K.
Global Consumer Robotics Market Research Report: By Type (Task Robots, Surveillance), Components (Microcontrollers, Displays,), Verticals (Marketing, Data Visualization), End-Users (Education, Healthcare) - Forecast Till 2027OverviewConsumer robots are robotic devices that are built for the personal use of people.
The Consumer Robotics Market demands have increased a lot in the last few years due to the growing popularity of automation technology in robots.
These robots can perform any task just like humans, and the use of robotics in tasks save time, cost and give comfort.
With our busy lives, it’s hard to put effort into all areas, and these robots can help you with that.The things used in robotics include software, sensors, processor, cameras, displays, power supplies, mobile platforms, and others.
Another factor that is responsible for the growth of Consumer Robotics Market size is the advancement in artificial intelligence technology and hand-held computing all over the world.
The Consumer Robotics Market segment of components includes processors, communication technologies, software, displays, cameras, actuators, sensors, power supplies, mobile robots, wheels, walking, manipulators, ball, and many more.
