The Global Consumer Robotics Market size is expected to grow from USD 9.07 billion in 2022 to USD 73.11 billion by 2030, at a CAGR of 29.8% during the forecast period (2023-2030).
Introduction to Consumer Robotics:
Consumer robotics refers to a rapidly evolving field that focuses on creating robotic products and devices for everyday use by individuals in their homes or personal spaces. These robots are designed to perform a wide range of tasks, from cleaning and entertainment to companionship and assistance with daily activities. The development of consumer robotics has been driven by advances in artificial intelligence, computer vision, natural language processing, and hardware engineering. One of the most notable examples of consumer robotics is the robotic vacuum cleaner, which autonomously navigates and cleans floors. Other examples include robot companions like social robots designed to provide companionship and entertainment, as well as robots for educational purposes.
As technology continues to advance, consumer robotics is expected to become even more integrated into our daily lives, with robots taking on increasingly complex and diverse roles. This may include robots for healthcare support, personal transportation, and even more sophisticated forms of household automation. However, ethical and safety considerations will be paramount as these technologies become more prevalent in our homes.
Major Key Players:
- Blue Frog Robotics (France)
- MAKO Surgical Corporation (US)
- Parrot SA (France)
- Honda Motors Company Ltd. (Japan)
- Neato Robotics (US)
- LG Electronics Inc. (South Korea)
- WowWee Group Limited (Hong Kong)
- Jibo Inc. (US)
- Hasbro Inc. (US)
- Samsung Electronics Co. Ltd. (South Korea)
- 3D Robotics (US)
- Intuitive Surgical Inc. (US)
- Google Inc. (US)
- iRobot Corporation (US)
Market Dynamics and Factors Influencing Growth:
Drivers:
The driving factors for Consumer Robotics are multifaceted, encompassing technological advancements, changing societal norms, and evolving consumer demands. Rapid technological progress is a primary driver. Breakthroughs in artificial intelligence, computer vision, and natural language processing have empowered robots with unprecedented capabilities. This has enabled them to perform a wider range of tasks with greater accuracy and efficiency. Moreover, the increasing affordability of advanced components and manufacturing processes has significantly lowered the cost barrier for producing consumer robots. This accessibility has opened up new markets and allowed a broader demographic to engage with robotics technology.
Restraints:
Restraints in consumer robotics primarily revolve around cost considerations. The production of sophisticated robotics hardware and software components tends to be expensive, which directly impacts the final retail price of consumer robots. This high cost can be a significant barrier for many potential buyers, limiting the accessibility of advanced robotic technology to a broader audience. Additionally, the ongoing research and development required to enhance capabilities and features contribute to the overall expense.
Opportunities:
Consumer robotics presents a vast array of opportunities in various domains, revolutionizing the way we interact with technology in daily lives. In the realm of household chores, robots can perform tasks like vacuuming, mopping, and even laundry, freeing up valuable time for individuals and families. Companies can tap into this market by developing efficient, user-friendly, and cost-effective robotic solutions.
Consumer Robotics Market Segmentation:
By Type
- Task Robots
- Surveillance
By Connectivity
- WIFI
- Bluetooth
By End-Users
- Education
- Healthcare
- Household
- Social Robots
- Entertainment Robots
- Type: Task robots are anticipated to register the maximum consumer robotics market share over the forecast period. The need for domestic robots is being driven by rising automation in household equipment, rising labor costs, and rising safety concerns around the world. One of the major factors driving the market is the growth in investments by firms around the world to create domestic robots for a variety of applications.
- Connectivity: The WIFI segment is expected to grow at the highest compound annual growth rate as a result of the rising technological adoption resulting in a strong demand for the robots with enhanced speed. The development of smart cities, followed by its feature of easing management, will further attract many customers to the market.
- End User: The household robot is anticipated to dominate the consumer robotics market during the forecast period. The demand for household robots is being driven by rising automation in household appliances, rising labor costs, and rising safety concerns around the world.
For this report, Introspective Market Research has segmented the Consumer Robotics Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
The Asia Pacific is expected to register a significant market share over the forecast period. In Asia, three countries, China, Japan, and South Korea are at the forefront of consumer robotics research and development. Because those three countries are Asia's leaders in robotics production, there is a wealth of knowledge available from them. The countries of China, Japan, and South Korea were chosen to represent the current state of consumer robotics in Asia
North America region is holding a major share of the consumer robotics market over the forecast period. The expansion of the market is largely fueled by the United States and Canada. The expansion is being driven by the rising use of consumer robots in residential applications across the area. In the United States, there are several consumer robotics firms. iRobot, based in Bedford, Massachusetts, is the most well-known consumer robotics manufacturer in the United States.
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
