Consumer Robotics Market
Consumer Robotics Market
The Consumers Robotics Market was calculated around USD 4,122 million in 2019 and is predicted to reach USD 32,800 million by the end of 2027, growing at a CAGR of 30.7% over the forecast period (2020-2027).
The factors driving the growth of Consumers Robotics Market includes increasing internet penetration rates, advancements in the navigation systems, growing use of consumer robots for completing household chores and rising geriatric population. According to the report published by Statista, the total number of active internet users in India were calculated around 622 million in 2020 and this figure is expected to exceed 900 million by the end of 2025, which will boost the Consumer Robotics Market size in the approaching years. Moreover, the easy availability of cleaning robots at e-commerce platforms and the integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning (ML), are some of the additional factors supplementing the Global Consumer Robotics Market. In addition, the increasing investments by major corporations on research and development, growing awareness about the benefits of consumer robots, rise in the launches of innovative robots, rapid urbanization, and improvements in the living standards, are further contributing to the market growth.
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However, the growth of Consumers Robotics Market is hindered due to performance issues associated with consumer robots.
The major players operating in the market are UBTECH Robotics, Sphero, Blue Frog Robotics, iRobot Corporation, Neato Robotics Inc., Pillo Health Inc., Gaussian Robotics, Mira Robotics Inc., Ecovacs Robotics, WowWee Group Limited and Pai Technology, among others.
Type: Segment Analysis
Based on Type, the Autonomous segment is predicted to hold the highest market share during the forecast period attributed to increasing investments by the leading players on integrating autonomous technology with consumer robots.
Application: Segment Analysis
Based on Application, the Household Robots segment held the largest market share in 2019 attributed to its increasing use in routine tasks.
Connectivity: Segment Analysis
Based on Connectivity, the Wifi segment is estimated to dominate the market over the forecast period attributed to growing demand for high-speed robots along with rise in the number of smart cities across the globe.
Regional: Segment Analysis
Based on Region, the North American region is estimated to capture the largest market share during the forecast period attributed to growing demand for household robots, rapid growth in the e-commerce industry and high population growth rates.
Market Segmentation
Global Consumer Robotics Market by Type
- Autonomous
- Semi-Autonomous
Global Consumer Robotics Market by Application
- Household Robots
- Social Robots
- Entertainment Robots
- Educational Robots
- Others
Global Consumer Robotics Market by Connectivity
- Wifi
- Bluetooth
- Others
Global Consumer Robotics Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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