Global Consumer Robot Market Size, Share, Opportunities, And Trends By Component (Software, Hardware (Sensor, Control System, Actuator, Others)), By Type (Autonomous, Semi-Autonomous), By Application (Entertainment, Security And Surveillance, Education, Telepresence, Service, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Jul 2021
- Report Code : KSI061611149
- Pages : 114
The consumer robot market is projected to witness a CAGR of 22.35% during the forecast period to reach a total market size of US$14.911 billion by 2023, increasing from US$5.438 billion in 2018. The declining price of personal robots owing to rapidly growing competition in the market drives the adoption of consumer robots while augmenting its market growth. In addition, the growing demand for home care owing to the rapidly aging population and rising prevalence of diseases further propel the consumer robot market growth. The growing spending power of consumers and the increasing need for convenience, especially in developed countries, are other major factors contributing to the growing consumer robot market. Other drivers include growing the rise in security threats, high-speed innovation, and a growing number of players. However, the performance issue might hold back the market growth. High-speed innovation is expected to augment the consumer robot market growth over the projected period.
By application, the service segment accounts for a considerable market share in 2017 and is expecting high growth over the projected period. This growth is largely driven by the rapidly aging population who demand at-home healthcare services. In addition, product innovation and extension by the players are expected to propel the demand for consumer robots for homecare applications. For instance, in March 2016, Hacoma launched a robot called Andago in the U.S.A. which aims to provide gait training. Likewise, the security and surveillance segment is also expecting high growth in the years ahead owing to the growing threat to security and the exponentially growing adoption of personal drones. The increasing adoption of robots for cleaning purposes, especially in North America, contributes to the market share of the housekeeping segment.
The global consumer robot market is in high competition owing to the presence of well-diversified regional and international players. Moreover, the market growth is attracting new players to the market which further propels the competitive rivalry. The major players discussed in the report include iRobot Corporation, Jibo, Inc., 3D Robotics, Inc., Honda Motor Co., Ltd., Bossa Nova Robotics, DJI, and SoftBank Group. The players are focusing on delivering low-cost products in order to enhance their market.
The consumer robot market has been segmented by component, type, application, and geography.
- By Component
- Control System
- By Type
- By Application
- Security and Surveillance
- By Geography
- North America
- United States
- South America
- United Kingdom
- Saudi Arabia
- Asia Pacific
- South Korea
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