Impact of COVID-19 on the Global Household Robot Market
Household robots are a product of modern technological advancements generally in vital zones, including robotics, object recognition, home navigation, and human-robot collaboration. The electronics sector has been disrupted due to the spread of COVID-19 across the globe. The changing customer behavior due to fluctuations in the global economy is likely to influence the household robots market over the anticipated timeframe. Governments worldwide have imposed lockdowns, which has affected most of the industrial players across the globe and forced people to stay within their homes, which, in turn, has reduced the physical interaction among people. Most companies have permitted employees to operate from their homes to ensure business continuity during the COVID-19 pandemic, which is expected to hamper the growth of the household robots market over the forecast timeframe. The restrictions imposed on production activities to comply with the social distancing norms are likely to hamper the growth of the electronics industry, which, in turn, is expected to limit the growth of the global household robots market.
Operations in the electronics sector have been interrupted due to the COVID-19 crisis across the globe. The shift in consumer preference towards essential products is likely to influence the household robots market over the projected timeframe. Furthermore, the COVID-19 outbreak has resulted in the sealing of international borders, which has caused a severe decline in the demand for household robots and related products across the globe. Government authorities worldwide have enforced restrictions on travel. Additionally, the restrictions on public gatherings along with travel bans in several countries are expected to hamper the growth of the household robots market over the forecast period.
The increased focus on social distancing and personal care is likely to affect the demand for such products, including household robots during the coming months. The spread of the pandemic has not only caused a loss of human lives but has also triggered the chances of a global economic recession. The partial or complete lockdowns in numerous countries have indirectly or directly impacted several industries, causing interruptions in supply chains & operations, and product commercialization, among other activities.