What is the Historic and Current Scenario of the Consumer Robotics Market?
The consumer robotics market has seen considerable growth due to a variety of factors.
•The size of the consumer robotics market has seen a significant escalation in the past few years. It is projected to escalate from $14.6 billion in 2024 to $18.57 billion in 2025, with a compound annual growth rate (CAGR) of 27.2%.
Factors that have contributed to this growth in the historic period include a rise in disposable income, growing intrigue in home automation, an increase in the elderly population, enlargement of the smart home market, and advancements in battery technology.
What are the Forecasted Growth and Key Factors of the Consumer Robotics Market?
The consumer robotics market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the consumer robotics market is predicted to experience significant expansion, with its value expected to surge to $54.17 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 30.7%.
This growth during the forecast period can be credited to factors such as the advent of cost-effective and flexible robotic platforms, increased use in the healthcare and education sectors, soaring demand for robots in cleaning and maintenance tasks, advances in the collaboration between humans and robots, and a growing focus on companion robots. Key trends observed during the forecast period include the acceptance of social robots, a shift towards personalized robotic solutions, the rise of swarm robotics, emphasis on sustainable and environment-friendly robotics, and the growth of Robotic-as-a-Service (RaaS) models.
What Are the Critical Driver Fuelling the Consumer Robotics Market's Growth?
The progression in the acceptance of smart home gadgets is projected to boost the development of the consumer robotics sector in the future. Smart homes are dwellings that are fitted with numerous internet-connected devices and systems, enabling inhabitants to regulate, observe, and automate different facets of their residence. Consumer robots play a significant role in these smart homes by enhancing the automation experience and simplifying numerous tasks. For example, a survey conducted by techUK, a non-profit trade organization in the United Kingdom, in November 2022, revealed in their State of the Connected Home report that 77% of UK adults possess a minimum of one smart home device. This is a growth increment from 67% in 2020 and 76% in 2021. Furthermore, the rate of individuals adopting smart home technology has increased, reaching 26% in 2022 from 24% in 2021 and 17% in 2020. Therefore, the steady increase in smart home adoption is fueling the demand for consumer robots.
How Is the Consumer Robotics Market segmented?
The consumer robotics market covered in this report is segmented –
1) By Type: Autonomous, Semi-Autonomous
2) By Connectivity: Wi-Fi, Bluetooth, Other Types
3) By Distribution Channel: Offline, Online
4) By Application: Domestic Task, Education, Healthcare, Other Applications
5) By End-User: Oil And Gas, Process Industry, Chemical And Petrochemical, Power Generation, Other End User
Subsegments:
1) By Autonomous Robots: Service Robots, Educational Robots, Entertainment Robots
2) By Semi-Autonomous Robots: Remote-Controlled Robots, Telepresence Robots, Collaborative Robots
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What New Trends Are Influencing the Consumer Robotics Market?
Leading enterprises in the consumer robotics industry are creating innovative robots, such as High-power-density SCARA, to advance automation capabilities, elevate efficiency in manufacturing and assembly processes, and cater to the increasing requirement for sophisticated robotic solutions capable of executing intricate tasks with accuracy and swiftness in diverse consumer applications. High-power-density SCARA (Selective Compliance Assembly Robot Arm) robots are specialized robotic arms built for precision operations in industrial automation demanding both speed and strength. For example, in October 2023, Epson Robots, an American sector of Seiko Epson Corporation specializing in automation solutions, introduced the GX-B Series; a new range of high-power-density SCARA robots. This series encapsulates four models with payload capacities from 4 kg to 20 kg and reach functionalities of up to one meter. The GX-B Series integrates the RC700E controller and built-in SafeSense technology, providing safe collaboration between workers and robots without the necessity for safety fences. With the application of GYROPLUS vibration reduction technology, these robots accomplish swift production rates and smooth motion control, making them ideal for top-tier automation requirements in industries like medical devices and consumer electronics.
Who Are the Key Players in the Consumer Robotics Market?
Major companies operating in the consumer robotics market include:
• Amazon.com Inc.
• Alphabet Inc.
• Toyota Motor Corporation
• Samsung Electronics Co. Ltd.
• Honda Motor Co. Ltd.
• Nippon Telegraph and Telephone Corp.
• LG Electronics Inc.
• Xiaomi Inc.
• Sharp Corporation
• Dyson Ltd.
• Intuitive Surgical Inc.
• Hasbro Inc.
• JS Global Lifestyle Co. Ltd.
• Ecovacs Robotics Co. Ltd
• iRobot Corp.
• Ubtech Robotics Inc
• Yujin Robot Co. Ltd.
• Starship Technologies Inc
• Cyberdyne Inc.
• WowWee Group Ltd.
• Bossa Nova Robotics Inc
• Blue Frog Robotics SAS
• Hanson Robotics Limited
• Robosen Robotics Inc
• Hoaloha Robotics LLC
• Jibo Inc.
• Pai Technology Limited
• Cecotec Innovaciones S.L.
What Is The Most Dominant Region In The Consumer Robotics Market?
North America was the largest region in the consumer robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
