Consumer Robotics Market Key Vendors Analysis,Revenue,Future Trends Forecast to 2023
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.
The global consumer robotics market size is prompted to record ~19% CAGR during the forecast period, 2017-2023. The progress in the market can be observed with the rising factors from all corners of the globe that has compelled the market to gain a valuation of USD ~17 billion by the year-end of 2023.
Top Impacting Factors: Consumer Robotics Market
The consumer robotics market has attained significant recognition from the past few years in line with the mounting popularity of robotic automation. Consumer task robots mimic human actions to perform tasks in the same way a human performs. The use of robotics in consumer tasks assists in achieving time, cost, and comfort linked benefits. Moreover, reduction in efforts and surged peace of mind are among the vital consumer benefits the robotics technology offers. The essential components used in consumer robotics comprise software, processors, sensors, microcontrollers, cameras, actuators, manipulators, displays, communication technologies, power supplies, balls and legs, mobile platforms, and many more.
With this, significant trends have supported the development of consumer robots on a large scale. The trends, therefore, include advancements in ubiquity of the internet artificial intelligence and navigation systems, the rise of more computing devices such as smartphones, tablets, and smartwatches. Mobile hardware and software possess the ability to control consumer robots, and thus, a large number of computing tasks are outsourced to these devices. These services incorporate similar skills and can be used to automate various consumer activities such as cleaning dirty kitchen floors, vacuuming, and entertainment, and many more. All these factors are contributing to creating a higher valuation of the global Consumer Robotics Market in the assessment period.
In a more extended approach, the global robotics market is also experiencing massive shifts towards consumer and office applications in contrast to its industrial and logistic uses. Any kind of slow, dirty, or dangerous task can be performed using robots. This is one of the influential factors accelerating the adoption of this technology. While the market for consumer robots is growing, safety concerns regarding inaccuracies in the operation of robots are hindering the market’s growth. On the contrary, the benefits associated with the use of robots over manual processes present immense growth opportunities for the global consumer robotics market in the foreseeable years.
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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.
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-Jiāng 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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