Global Consumer Robotics Market Overview
The Global Consumer Robotics Market size is expected to grow from USD 10.11 billion in 2023 to USD 106.25 billion by 2032, at a CAGR of 29.87% during the forecast period (2024-2032).
Consumer robots and robotic gadgets are designed for everyday use, usually in a household or personal setting. Household robots, vacuum robots, lawn mowing robots, pool cleaning robots, and other robotic devices are among them. In 2016, robot vacuum cleaners accounted for 20% of all vacuum cleaners sold. They've risen to 23% in 2017 and are continuing to rise. Even though most people identify domestic robots with vacuum cleaners and Roombas, most traditional household product businesses have entered the robotics market. Robots used to be science fiction fantasies, but that is no longer the case. With worldwide spending on robots, the robotics market is taking off and will continue to rise. Consumer demand for autonomous and semi-autonomous robotic technology, as well as the expanding use of hand-held computer devices and internet penetration around the world, are all contributing to the global consumer robotics market's rise. Simultaneously, these robots provide humans with a better working environment, allowing them to complete tasks faster and more accurately. The incorporation of artificial intelligence and machine learning in robots has offered endless potential opportunities for the consumer robotics industry in this era of modernization.
Market Dynamics And Factors For Consumer Robotics Market
Drivers:
Growing Demand For The Consumer Robots
What was considered as a revolution at the beginning of 21 century when the first generation of consumer robots like vacuum cleaners and lawnmowers was introduced, is now pretty common technology. The next generation of consumer robots is emerging which is going beyond home care robots typically taking on a specific chore (de Bellis & Johar, 2020) to interactive connected personal assistants or family companions (Lum, 2020). Consumer robots integrate information technology into physical embodiments to make everyday life easier. The recent development of artificial intelligence (AI) in understanding and producing natural language, learning from experience, and even understanding and mimicking human emotions has fueled the rapid growth of robots. Further, the declining prices of robots and the growing demand for homecare due to the increasing elderly population have also propelled consumer robots market growth. In addition, the increasing use of various computing devices like smartwatches, tablets, smartphones, and others fuels the market demand in the global market. Moreover, increasing market demand for machine learning, tactile sensors, machine vision, gesture control, speech and voice recognition, human-robot interaction, artificial intelligence, and many others drives the market in the global market. Additionally, the wide use of sensors and Wi-Fi in consumer robotics also fuels the market growth in these regions.
Restraints:
Though the consumer robotics market is increasing tremendously in the global market some factors restrict its growth. The high cost associated with manufacturing consumer robotics and the high price charged by manufacturers hampers the market growth in the global market. Moreover, a lack of awareness of the availability of consumer robotics in various emerging countries and underdeveloped countries restricts the market growth in the global market.
Opportunities:
Artificial intelligence (AI) technologies, particularly machine learning (ML), are critical in the development of intelligent robots that can predict and react to specific situations based on the interpretation of data collected from a variety of sensors. To take industrial automation and industrial robots to the next level, more advancements in AI technologies such as computer vision, conversational platforms, and context-aware computing are required. Such technological advancements are projected to continue in the next years, with market potential.
Challenges:
The possibility of cyberattacks is one of the most significant obstacles to the widespread use of robots. Robots, particularly those that are connected to the internet, are extremely vulnerable to hacking. Allowing unauthorized access to important applications and systems by leaving them unprotected may result in the loss, theft, destruction, or inappropriate use of sensitive data.
Segmentation Analysis of Consumer Robotics Market
By 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. Samsung and LG Electronics are heavily investing in the development and introduction of new robotic goods for the home. Jibo, for example, is developing social robots to integrate into people's daily lives as interactive companions. Startups that provide domestic robot solutions are also getting funding from overseas investors, based on the market potential.
By 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. Furthermore, the development of smart cities, followed by its feature of easing management, will further attract many customers to the market.
By End-Users, 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. 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. Samsung and LG Electronics are heavily investing in the development and introduction of new robotic goods for the home. Jibo, for example, is developing social robots to integrate into people's daily lives as interactive companions. Startups that provide domestic robot solutions are also getting funding from overseas investors, based on the market potential.
Regional Analysis of Consumer Robotics Market
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. iRobot has grown significantly in recent years as they have developed and upgraded a variety of consumer robots. The Roomba Robotic Vacuum is the company's most well-known robot.
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.
The market in European countries has been steadily growing and is likely to continue to develop in the future years. Various companies are helping to expand new technologies and products, and this trend is projected to continue during the forecast period. There are robotic vacuums available from European businesses that are known for goods other than robots, similar to iRobot's Roomba. Electrolux, a Swedish manufacturer of household goods, has unveiled its version of a vacuum robot.
Key players in the Consumer Robotics Market
- 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) and other major players.
Key Industry Developments In Consumer Robotics Market
- In January 2024, Samsung announced the launch of household robot with the name Ballie. This spherical home robot is aimed at charming skeptical consumers who need a little extra help around the house.
- In December 2023, Amber Technology announced a strategic partnership with Robosen Robotics, the globally acclaimed creator of advanced consumer entertainment and education robots. This partnership will introduce Robosenās state-of-the-art range of robots to the Australian and New Zealand markets, following the brandās significant global achievements.
Global Consumer Robotics Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data : |
2017 to 2023 |
Market Size in 2023: |
USD 10.11 Bn. |
Forecast Period 2024-32 CAGR: |
29.87 % |
Market Size in 2032: |
USD 106.25 Bn. |
Segments Covered: |
By Type |
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By Connectivity |
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By Application |
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By End-User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Opportunities |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Connectivity
ā3.3 By End-Users
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Consumer Robotics Market by Type
ā5.1 Consumer Robotics Market Overview Snapshot and Growth Engine
ā5.2 Consumer Robotics Market Overview
ā5.3 Task Robots
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Task Robots: Grographic Segmentation
ā5.4 Surveillance
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2016-2028F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Surveillance: Grographic Segmentation
Chapter 6: Consumer Robotics Market by Connectivity
ā6.1 Consumer Robotics Market Overview Snapshot and Growth Engine
ā6.2 Consumer Robotics Market Overview
ā6.3 WIFI
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2017-2032 F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 WIFI: Grographic Segmentation
ā6.4 Bluetooth
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2017-2032F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Bluetooth: Grographic Segmentation
ā6.5 Others
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2017-2032F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Others: Grographic Segmentation
Chapter 7: Consumer Robotics Market by End-Users
ā7.1 Consumer Robotics Market Overview Snapshot and Growth Engine
ā7.2 Consumer Robotics Market Overview
ā7.3 Education
āā7.3.1 Introduction and Market Overview
āā7.3.2 Historic and Forecasted Market Size (2017-2032F)
āā7.3.3 Key Market Trends, Growth Factors and Opportunities
āā7.3.4 Education: Grographic Segmentation
ā7.4 Healthcare
āā7.4.1 Introduction and Market Overview
āā7.4.2 Historic and Forecasted Market Size (2017-2032F)
āā7.4.3 Key Market Trends, Growth Factors and Opportunities
āā7.4.4 Healthcare: Grographic Segmentation
ā7.5 Household
āā7.5.1 Introduction and Market Overview
āā7.5.2 Historic and Forecasted Market Size (2017-2032F)
āā7.5.3 Key Market Trends, Growth Factors and Opportunities
āā7.5.4 Household: Grographic Segmentation
ā7.6 Social Robots
āā7.6.1 Introduction and Market Overview
āā7.6.2 Historic and Forecasted Market Size (2017-2032F)
āā7.6.3 Key Market Trends, Growth Factors and Opportunities
āā7.6.4 Social Robots: Grographic Segmentation
ā7.7 Entertainment Robots
āā7.7.1 Introduction and Market Overview
āā7.7.2 Historic and Forecasted Market Size (2017-2032F)
āā7.7.3 Key Market Trends, Growth Factors and Opportunities
āā7.7.4 Entertainment Robots: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
ā8.1 Competitive Landscape
āā8.1.1 Competitive Positioning
āā8.1.2 Consumer Robotics Sales and Market Share By Players
āā8.1.3 Industry BCG Matrix
āā8.1.4 Ansoff Matrix
āā8.1.5 Consumer Robotics Industry Concentration Ratio (CR5 and HHI)
āā8.1.6 Top 5 Consumer Robotics Players Market Share
āā8.1.7 Mergers and Acquisitions
āā8.1.8 Business Strategies By Top Players
ā8.2 BLUE FROG ROBOTICS
āā8.2.1 Company Overview
āā8.2.2 Key Executives
āā8.2.3 Company Snapshot
āā8.2.4 Operating Business Segments
āā8.2.5 Product Portfolio
āā8.2.6 Business Performance
āā8.2.7 Key Strategic Moves and Recent Developments
āā8.2.8 SWOT Analysis
ā8.3 MAKO SURGICAL CORPORATION
ā8.4 PARROT SA
ā8.5 HONDA MOTORS COMPANY LTD.
ā8.6 NEATO ROBOTICS
ā8.7 LG ELECTRONICS INC.
ā8.8 WOWWEE GROUP LIMITED
ā8.9 JIBO INC.
ā8.10 HASBRO INC.
ā8.11 SAMSUNG ELECTRONICS CO. LTD.
ā8.12 3D ROBOTICS
ā8.13 INTUITIVE SURGICAL INC.
ā8.14 GOOGLE INC
ā8.15 IROBOT CORPORATION
ā8.16 OTHER MAJOR PLAYERS
Chapter 9: Global Consumer Robotics Market Analysis, Insights and Forecast, 2016-2028
ā9.1 Market Overview
ā9.2 Historic and Forecasted Market Size By Type
āā9.2.1 Task Robots
āā9.2.2 Surveillance
ā9.3 Historic and Forecasted Market Size By Connectivity
āā9.3.1 WIFI
āā9.3.2 Bluetooth
āā9.3.3 Others
ā9.4 Historic and Forecasted Market Size By End-Users
āā9.4.1 Education
āā9.4.2 Healthcare
āā9.4.3 Household
āā9.4.4 Social Robots
āā9.4.5 Entertainment Robots
Chapter 10: North America Consumer Robotics Market Analysis, Insights and Forecast, 2016-2028
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Task Robots
āā10.4.2 Surveillance
ā10.5 Historic and Forecasted Market Size By Connectivity
āā10.5.1 WIFI
āā10.5.2 Bluetooth
āā10.5.3 Others
ā10.6 Historic and Forecasted Market Size By End-Users
āā10.6.1 Education
āā10.6.2 Healthcare
āā10.6.3 Household
āā10.6.4 Social Robots
āā10.6.5 Entertainment Robots
ā10.7 Historic and Forecast Market Size by Country
āā10.7.1 U.S.
āā10.7.2 Canada
āā10.7.3 Mexico
Chapter 11: Europe Consumer Robotics Market Analysis, Insights and Forecast, 2016-2028
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Task Robots
āā11.4.2 Surveillance
ā11.5 Historic and Forecasted Market Size By Connectivity
āā11.5.1 WIFI
āā11.5.2 Bluetooth
āā11.5.3 Others
ā11.6 Historic and Forecasted Market Size By End-Users
āā11.6.1 Education
āā11.6.2 Healthcare
āā11.6.3 Household
āā11.6.4 Social Robots
āā11.6.5 Entertainment Robots
ā11.7 Historic and Forecast Market Size by Country
āā11.7.1 Germany
āā11.7.2 U.K.
āā11.7.3 France
āā11.7.4 Italy
āā11.7.5 Russia
āā11.7.6 Spain
āā11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Consumer Robotics Market Analysis, Insights and Forecast, 2016-2028
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Task Robots
āā12.4.2 Surveillance
ā12.5 Historic and Forecasted Market Size By Connectivity
āā12.5.1 WIFI
āā12.5.2 Bluetooth
āā12.5.3 Others
ā12.6 Historic and Forecasted Market Size By End-Users
āā12.6.1 Education
āā12.6.2 Healthcare
āā12.6.3 Household
āā12.6.4 Social Robots
āā12.6.5 Entertainment Robots
ā12.7 Historic and Forecast Market Size by Country
āā12.7.1 China
āā12.7.2 India
āā12.7.3 Japan
āā12.7.4 Singapore
āā12.7.5 Australia
āā12.7.6 New Zealand
āā12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Consumer Robotics Market Analysis, Insights and Forecast, 2016-2028
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Task Robots
āā13.4.2 Surveillance
ā13.5 Historic and Forecasted Market Size By Connectivity
āā13.5.1 WIFI
āā13.5.2 Bluetooth
āā13.5.3 Others
ā13.6 Historic and Forecasted Market Size By End-Users
āā13.6.1 Education
āā13.6.2 Healthcare
āā13.6.3 Household
āā13.6.4 Social Robots
āā13.6.5 Entertainment Robots
ā13.7 Historic and Forecast Market Size by Country
āā13.7.1 Turkey
āā13.7.2 Saudi Arabia
āā13.7.3 Iran
āā13.7.4 UAE
āā13.7.5 Africa
āā13.7.6 Rest of MEA
Chapter 14: South America Consumer Robotics Market Analysis, Insights and Forecast, 2016-2028
ā14.1 Key Market Trends, Growth Factors and Opportunities
ā14.2 Impact of Covid-19
ā14.3 Key Players
ā14.4 Key Market Trends, Growth Factors and Opportunities
ā14.4 Historic and Forecasted Market Size By Type
āā14.4.1 Task Robots
āā14.4.2 Surveillance
ā14.5 Historic and Forecasted Market Size By Connectivity
āā14.5.1 WIFI
āā14.5.2 Bluetooth
āā14.5.3 Others
ā14.6 Historic and Forecasted Market Size By End-Users
āā14.6.1 Education
āā14.6.2 Healthcare
āā14.6.3 Household
āā14.6.4 Social Robots
āā14.6.5 Entertainment Robots
ā14.7 Historic and Forecast Market Size by Country
āā14.7.1 Brazil
āā14.7.2 Argentina
āā14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Global Consumer Robotics Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data : |
2017 to 2023 |
Market Size in 2023: |
USD 10.11 Bn. |
Forecast Period 2024-32 CAGR: |
29.87 % |
Market Size in 2032: |
USD 106.25 Bn. |
Segments Covered: |
By Type |
|
|
By Connectivity |
|
||
By Application |
|
||
By End-User |
|
||
By Region |
|
||
Key Market Drivers: |
|
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Key Market Restraints: |
|
||
Opportunities |
|
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Consumer Robotics Market research report is 2024-2032.
Blue Frog Robotics (France), MAKO Surgical Corporation (US), Parrot SA (France), Honda Motors Company Ltd. (Japan), Neato Robotics (US)and others major players.
The Consumer Robotics market is segmented into Type, Connectivity, End-Users, Region. Consumer Robotics Market is segmented By Type (Task Robots, Surveillance), Connectivity (WIFI, Bluetooth, Others), End-Users (Education, Healthcare, Household, Social Robots, Entertainment Robots), By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.), Asia-Pacific (China; India; Japan; Southeast Asia etc.), South America (Brazil; Argentina etc.), Middle East & Africa (Saudi Arabia; South Africa etc.).
Consumer robots and robotic gadgets are designed for everyday use, usually in a household or personal setting. Household robots, vacuum robots, lawn mowing robots, pool cleaning robots, and other robotic devices are among them. In 2016, robot vacuum cleaners accounted for 20% of all vacuum cleaners sold.
The Global Consumer Robotics Market size is expected to grow from USD 10.11 billion in 2023 to USD 106.25 billion by 2032, at a CAGR of 29.87% during the forecast period (2024-2032).