What Has Driven the Growth of the Entertainment Robots Market in Recent Years?
The entertainment robots market has seen considerable growth due to a variety of factors.
•The market size for entertainment robots has seen a surge in the past few years. There is a projected growth from $35.6 billion in 2024 to $44.33 billion in 2025, indicating a compound annual growth rate (CAGR) of 24.5%.
This surge during the historical period is due to the rising curiosity in robotics among consumers, the synthesis of augmented reality (AR) and virtual reality (VR), the worldwide acknowledgment of robotics competitions, the advent of AI and machine learning, and the worldwide proliferation of robot-as-a-service (RaaS).
What is the Market Size Forecast for the Entertainment Robots Market?
The entertainment robots market is expected to maintain its strong growth trajectory in upcoming years.
• The market for entertainment robots is predicted to experience significant growth in the coming years, with projections suggesting a value of $114.17 billion by 2029, based on a compound annual growth rate (CAGR) of 26.7%.
This acceleration in the forecast period is linked to several factors including breakthroughs in interactions between humans and robots, the rise of social robots, the enlargement of theme parks and entertainment hotspots, and the focus on personalized trends for both educational and entertainment robots. Key trends within the forecast period encompass the introduction of 5G technology, partnerships between entertainment and technology firms, the increasing cost-effectiveness of robotics technology, advancements in robotics technology, and enhanced interaction between humans and robots.
What Are The Core Factors Supporting Growth In The Entertainment Robots Market?
The entertainment robots market is anticipated to expand due to the rising utilization of robots. The deployment of these machines among children and the elderly is for educational, therapeutic, and caregiving objectives, such as instructing kids in various domains like math, science, and programming, and offering adults the opportunity to stay proactive and involved. Robotic support is in the making to aid seniors in daily chores like tidying up, fetching objects, transitioning in and out of bed, meal times, and movement. For instance, the International Federation of Robotics (IFR), a Germany-originated group centered on the robotics industry, reported in September 2023 that worldwide installations of industrial robots escalated by 5% in 2022, with Asia being paramount at 73%. The market conjectures a growth rate of 7% in 2023, surpassing 590,000 units. Consequently, the growing acceptance of robots propels the development of the entertainment robots market in the future.
What Are The Major Segments Within The Global Entertainment Robots Market?
The entertainment robots market covered in this report is segmented –
1) By Product: Robot Toys, Educational Robots, Robotic Companion Pets
2) By Component: Software, Hardware
3) By End-User: Media, Education, Retail, Other End Users
Subsegments:
1) By Robot Toys: Remote-Controlled Robots, Interactive Robot Toys, Building And Construction Robot Kits
2) By Educational Robots: Coding And Programming Robots, STEM Learning Robots, Robotics Kits For Schools
3) By Robotic Companion Pets: Robotic Dogs And Cats, Interactive Pet Robots, Emotional Support Robotic Pets
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Which Trends Are Expected To Transform The Entertainment Robots Market?
Developments in artificial intelligence are becoming increasingly significant trends in the realm of entertainment robotics. Firms that function within this market are embracing new technologies to retain their competitive standing. For example, Miko, a consumer electronics enterprise based in India that focuses on artificial intelligence and machine learning, introduced Miko 3, an AI-infused educational robot, in February 2022. Miko 3 incorporates a wide-angle HD camera, a velocity range sensor, and odometric sensors, which allow the robot to dynamically calculate distances and seamlessly dodge surfaces and obstacles. The device's Mikonnect video call capability ensures a secure and constant link between children and their parents.
Who Are the Key Players in the Entertainment Robots Market?
Major companies operating in the entertainment robots market include:
• Sony Corporation
• Hasbro Inc.
• Lego Group
• Honda Motor Co. Ltd.
• Mattel Inc.
• WowWee Group Limited
• Blue Frog Robotics
• SoftBank Robotics Group Corp.
• UBTECH Robotics Corp.
• Robosen Robotics Co. Ltd.
• Anki Inc.
• Spin Master Ltd.
• Sphero Inc.
• Fischertechnik GmbH
• iRobot Corporation
• Tomy Company Ltd.
• Parrot SA
• Boston Dynamics Inc.
• AIBrain Inc.
• Robotis Inc.
• Segway Robotics Inc.
• Ozobot & Evollve Inc.
• KUKA AG
• Aldebaran Robotics SAS
• Hanson Robotics Ltd.
• VTech Holdings Limited
• ROBOLOCO Inc.
• Neato Robotics Inc.
• DJI Technology Co. Ltd.
• Furhat Robotics
What Is The Most Dominant Region In The Entertainment Robots Market?
Asia-Pacific was the largest region in the entertainment robots market in 2024.North America is expected to be the fastest-growing region in the global entertainment robots market report during the forecast period. The regions covered in the entertainment robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
