Companies such as iRobot Corporation (U.S), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Hasbro, Inc. (U.S), WowWee Group Limited (Hong Kong), Parrot SA (France), Google Inc. (U.S), are the leading providers of consumer robotics solution in the global market. The adoption of handheld computing devices including smartphones, tablets, smartwatches, and others are propelling the market. Mobile devices offer an opportunity to outsource computing devices. On Oct. 2, 2017, iRobot Corporation has expanded its operations with the acquisition of Robopolis SAS. The company has expanded its business in Europe to provide service across the world.
The emergence of artificial intelligence, human-robot interaction, voice and speech recognition, gesture control, machine vision, tactile sensors, machine learning, and others, which are driving the market growth. Moreover, Wi-Fi and sensors are widely used in consumer robotics. The high price of robots is the major restraint in the consumer robotics global industry. There is a number of services availed to automate various consumer activities including vacuuming, cleaning dirty kitchen floors, entertainment among others. On Dec. 18, 2017, iRobot Corporation has gone into the agreement with Black & Decker to discontinue sales of all home robotic vacuums for a certain period of time after selling through its existing inventory.
The global market of consumer robotics is segmented into types, components, verticals, and region. The type is segmented into task robots, surveillance robots, entertainment robots, security robots, educational robots, personal robots, and others. The components are segmented into processors, communications technologies, software, microcontrollers, displays, cameras, actuators, power supplies, sensors, manipulators, mobile robots, mobile platforms, wheels, legs, hopping, ball, walking, and others. The verticals segment is sub-segmented into telepresence robots, educational robotics kits, UAVs, healthcare robotics and industrial robotics and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.
The global consumer robotics market is expected to grow at USD ~17 billion by 2023 at a CAGR of ~19% during the forecast period 2017-2023.
Some of the prominent players in the global consumer robotics market iRobot Corporation (U.S), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Hasbro, Inc. (U.S), WowWee Group Limited (Hong Kong), Parrot SA (France), Google Inc. (U.S), Honda Motors Company Ltd. (Japan), Intuitive Surgical Inc. (U.S), MAKO Surgical Corporation (Florida), Neato Robotics (U.S), Dà-Jiāng Innovations Science and Technology Co., Ltd (China), 3D Robotics (U.S.), Jibo, Inc. (U.S.), Blue Frog Robotics (France), among others.
The regional analysis of consumer robotics global market is studied for regions such as Asia Pacific (China, Japan, and India), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World. North America is one of the leading regions of the world in terms of market share. The market of consumer robotics in this region has a huge demand due to the technological advancements in robotics, which is propelling the market growth to a large extent. The market in Europe for consumer robotics is expected to witness rapid growth in the forthcoming period due to huge demand for sensors in this region. Whereas, Asia Pacific countries such as China, Japan and India is an emerging consumer robotics sector, which is expected to grow at the highest CAGR in the coming years. China is a major hub for electronics devices, which is boosting the market growth of market to the large extent.
Frequently Asked Questions (FAQ) :
The global consumer robotics market is expected to grow to a size of USD 17 billion by 2023.
The global consumer robotics market is expected to expand at a CAGR of 19% during the forecast period (2020-2027).
Continuous developments in internet of things (IoT), machine learning, artificial intelligence, and incorporation of proximity, vision, and touch sensors can drive the global consumer robotics market.
North America can lead in the global consumer robotics market.
Hasbro, Inc., WowWee Group Limited, Google Inc., Honda Motors Company Ltd., LG Electronics Inc., MAKO Surgical Corporation, iRobot Corporation, Neato Robotics, Dà-Jiāng Innovations Science and Technology Co., Ltd, Jibo, Inc., Samsung Electronics Co., Ltd., 3D Robotics, Parrot SA, Blue Frog Robotics, and Intuitive Surgical Inc. are key players of the global consumer robotics market.