Market Research Future published a research report on “Consumer Robotics Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Consumer robotics or robots are devices designed to assist humans in a domestic environment. According to the International Federation of Robotics, 31 million robots can assist in household chores in the coming years. The global consumer robotics market report by Market Research Future (MRFR) covers trends and opportunities to emerge during the period of 2017 to 2023 (forecast period). The outbreak of the COVID-19 virus and its implications are covered in the report.
Market Scope
The global Consumer Robotics Market is expected to grow to USD 17 billion by 2023. It can expand at a CAGR of 19% during the forecast period. Adoption of mobile devices is predicted to drive the market demand exponentially. Technological advances such as artificial intelligence, machine learning, machine vision, human and robot interaction, and tactile sensors can spur the demand in the coming years.
The huge demand for cleaning robots and increasing automation in households can bode well for the market. Compact size of these robots and saved costs for cleaning can drive the procurement of these robots. Assimilation of robots in most janitorial jobs in the coming years can outline the vast demand of the market.
But high costs of these robots can limit the market growth.
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Segmentation of Market: Consumer Robotics
From the viewpoint of segmental analysis, the global consumer robots facts is studied under various segments such as types, components and verticals.
Among the type segment, the market has included surveillance robots, task robots, personal robots, security robots, educational robots, entertainment robots, and more.
Among the components segment, the market has included communications technologies, processors, microcontrollers, software, cameras, displays, power supplies, actuators, manipulators, sensors, mobile platforms, mobile robots, legs, wheels, ball, walking, hopping and others.
Among the verticals segment, the market has included tele-presence robots, UAVs, healthcare robotics educational robotics kits, and industrial robotics and more.
Regional Framework
From the viewpoint of regional aspects, the global consumer robotics market has included several regions for its study to understand the market’s dynamics in the future. The regions covered are Europe, North America, Asia Pacific, and the rest of the world.
Among these regions, North America is one of the leading regions in the world, sharing the highest market share. The consumer robotics market in this region has a huge demand owing to the technological advancements in robotics, which is propelling the market growth to a large extent.
The consumer robotics market in Europe is observed and expected to witness rapid growth in the forthcoming period in support of the enormous demand for sensors in this region. In the last, the market in Asia Pacific regions having countries such as China, Japan, and India is emerging in the consumer robotics market, which is expected to expand at the highest CAGR in the coming years. China is a significant hub for electronics devices, which is boosting the market growth of consumer robotics market to the large extent.
Top Market Contenders
The well-known market contenders in the global consumer robotics market are listed as Samsung Electronics Co., Ltd. (South Korea), iRobot Corporation (U.S), Hasbro, Inc. (U.S), LG Electronics Inc. (South Korea), Parrot SA (France), WowWee Group Limited (Hong Kong), Honda Motors Company Ltd. (Japan), Google Inc. (U.S), MAKO Surgical Corporation (Florida), Intuitive Surgical Inc. (U.S), Dà-Ji?ng Innovations Science and Technology Co., Ltd (China), Blue Frog Robotics (France), Neato Robotics (U.S), Jibo, Inc. (U.S.), 3D Robotics (U.S.), among others.
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