According to a research by P&S Intelligence, the global personal robots market is predicted to generate a revenue of $51.5 billion in 2030, increasing from $21.5 billion in 2019. The market is expected to grow due to the rapidly increasing aging population, rising consumer demand for luxury items, and surging awareness among consumers about the availability of domestic robots. The recent COVID-19 pandemic has however, has been a major obstacle for the growth of the market, just like many other industries.
A number of factors, such as the inconsistency in the raw material supply, closure of various manufacturing facilities, and delay in export-import among various countries, have led to the disruption in the global supply chain. Nationwide lockdown in a number of countries has further been hampering the growth of the market, as public spending has declined substantially. All these factors are having a negative effect on the market and will hamper its growth for some time at least.
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This market research report provides a comprehensive overview of the personal robots market
On the basis of type, the cleaning robots division held the largest share of the personal robots market during 2014–2019 and is predicted to dominate the market in the years to come as well. Cleaning robots are utilized mostly at households, since they assist in daily chores and make the owner’s life easy. The steady rise in the sale of these robots is because of the increasing acceptance of these devices in emerging economies and their lowering prices.
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Some of the major players operating in the market are F&P Robotics AG, Segway Inc., Neato Robotics Inc., Honda Motor Co. Ltd., ZMP Inc., iRobot Corporation, Ecovacs Robotics Inc., Sony Corporation, GeckoSystems International Corporation, and Samsung Electronics Co. Ltd.
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.