ID: MRFR/SEM/5450-HCR | 100 Pages | Published By Aarti Dhapte on April 2023
The indoor market system is likely to enjoy a major momentum during the forecast period of 2019-2026 and owing to the trends, the market is expected to be valued at USD 54.1 billion.
The indoor market system is likely to enjoy a major momentum during the forecast period of 2019-2026 and owing to the trends, the market is expected to be valued at USD 54.1 billion. During the previous forecast period that ended in 2019, the global market operations were valued at USD 42 million. During the current period, the CAGR stands at 25%. There is a huge variety in the robots that are being manufactured by the key market players followed by their deployment to conduct different kinds of indoor activities. These kinds of robots are provided with the required training and education that will help them assist the research and developments undertaken during the period, as well.
Indoor robots are one of the newest technological developments that will be helpful in the enhancement of indoor services and improvise the trends that will help in better understanding, concept clarity, and providing first-hand and practical experience to the students. The concept of automation is increasing and it is enhancing its operations across various verticals and the education sector is one of them. A collaborative effort of automation and education services is likely to be helpful for the market to achieve new heights and set new and achievable standards for providing quality education that is backed with the required skill, expertise, and knowledge to enhance the horizon of the students and other seekers of academics.
Hotel tourism, travel, and the education industry have been some of the major economic sectors that have witnessed the considerable changes brought in by the pandemic. The changes are such that students have to sit home and complete their exposure. The unavailability of physical learning is barring the global target audience to gain first-hand experience. The switch to online classes has made students bound to online learning only and experimentation is just fixed and limited to theory and books. Due to the arrival of the pandemic, the lockdown has been imposed and hence, the students are deprived of physical experience. The indoor robots have been deployed but are of no use since the pandemic has hit the global market operations.
However, the global participating regions and their governments are investing in the development of a strong and sturdy indoor infrastructure that is backed with emerging technological and innovative trends. Also, the indoor robots market players are manufacturing these robots that are being deployed to render a better learning experience.
Indoor Robots Market Dynamics
The development of artificial intelligence and IoT as a part of the indoor robots market has given a new dimension to how robots can interact and work with humans. Also, the rise in the development quotient and evolution of MEMS and sensors, and enhancements in visualization technology have improved the efficiency and accuracy of mobile robots. The substantial growth of the mobile robot market for domestic applications is led by innovation and modernization in the field of robotics. Technological advancements and immense research activities have led to the development of domestic cleaning robots, which are helping humans to perform mundane tasks.
Apart from the kind of momentum that is likely to be enjoyed by the humanoid robots, as a part of the indoor robots market share during the ongoing forecast period ending in 2026, the cost of acquiring them lands between USD 7,000 to USD 50,000. Such an amount cannot be afforded by all. As per the market information, the TIAGo humanoid robot that belongs to the company named PAL Robotics from Spain costs an approximate value of USD 50,000. The cost of acquiring these robots, when collaborated with the integrated costs and the cost related to the peripherals, is likely to help them emerge as a costly investment for education service providers and institutes.
The global market researchers that belong to the indoor robot’s software, are intensively working on the development of methods that will help in developing and understanding the way of transferring robot programming to another humanoid robot. KUKA is among the leading suppliers of indoor robots worldwide. KUKA is known to operate in a dynamic environment driven by the help of innovation. It helps and fosters its growth through the expansion of KUKA’s innovative and technological leadership, and further, helps in the diversification of activities into new markets and regions. It has gained huge access to new markets and has further expanded its general business functioning. It has also enjoyed and gained entry into the sales and service market in the APAC region of China.
Indoor Robots Market Segmentation
The indoor robotics market has been segregated all across the globe based on the following:
Indoor Robots Market, by Type:
Indoor Robots Market, by Operating Environment:
Indoor Robots Market, by Component:
Indoor Robots Market, by Application:
Indoor Robots Market, by Region:
Indoor Robots Market Regional Analysis
The indoor robots market has been divided all across the globe based on the region and includes the North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. Significant development of the information technology ecosystem followed by a well-established and robust consumer base in China and neighboring countries are the major factors driving the growth of the market in APAC. Apart from this, there has been a high rate of penetration rate of e-commerce giants, such as Amazon, Walmart, and Alibaba, in the region puts forth the need for AGVs for warehouse automation. Further, owing to the increasing government exemptions for the working and presence of operating commercial drones is contributing to the significant growth of the market in APAC.
Indoor Robots Market Competitive Landscape
The most prominent and major key players in the indoor robots market all across the globe are mentioned below:
Apart from these, Robotiq (Canada) is emerging as one of the most prominent key suppliers in the indoor robots market.
The functioning of the major key players using various strategies to sustain their market position in the indoor robots market in the global market is likely to be helpful in the expansion of the market share during the ongoing forecast period that will be ending in 2026.
Indoor Robots Market Recent Developments
Indoor Robots Market Report Overview
This global indoor robots market research report consists of the following elements mentioned below:
The study that is included in the global indoor robots market involves 4 major activities in estimating the current size of the market. Exhaustive secondary research of the market has been done to collect information about the market, the peer market, and the parent market. Validating findings followed by other factors like the assumptions, and sizing with industry experts across the value chain through primary research has been the next step.
|Market Size||USD 54.1 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, Robot Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Opportunities||Growing trend of smart or connected home.|
|Key Market Drivers||
The indoor robots market is expected to grow at a higher CAGR of 25% in the global market during the forecasted period.
The indoor robots market is expected to account for a higher market share value of USD 54.1 Billion by the end of the forecasted period.
The largest market share in the indoor robots market all across the globe is held by the Asia-Pacific region followed by the North American region and European region respectively.