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Consumer Robotics Market Research Report: Information By Type (Task Robots, Surveillance), By Application (Microcontrollers, Displays) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

ID: MRFR/SEM/3632-HCR | 100 Pages | Author: Ankit Gupta| July 2024

Global Consumer Robotics Market Overview:

Consumer Robotics Market Size was valued at USD 6.3 Billion in 2023. The Consumer Robotics industry is projected to grow from USD 8.13 Billion in 2024 to USD 49.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.19% during the forecast period (2024 - 2032). The growing need for personalisation and the growing demand for automation are the key market drivers enhancing the market growth.

Global Consumer Robotics Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Consumer Robotics Market Trends

  • Increased Adoption of Robotics in Household Chores Drives Market Growth

The growing popularity of household robots is propelling the Consumer Robots Market CAGR. Robotics has grown more accessible and economical as technology has advanced, making it easier for consumers to integrate robotics into their daily lives. Robotics can assist with a number of domestic duties such as cleaning, cooking, and gardening, making them a beneficial addition to any home. As more customers seek ways to simplify their lives and minimize the time and effort required for domestic duties, robotics has emerged as a feasible answer. Numerous tasks, like mopping and vacuuming floors, cleaning windows, and even cooking, may be assisted by robots. Robotics can also help the elderly and the disabled live better lives by helping them with daily tasks. Due of this, demand for robots has increased in both the home and the healthcare sector.

Overall, the increasing usage of robots in domestic activities is driving growth in the Consumer robots Market, as consumers want to simplify their lives and improve their quality of life with the help of technology.

Another driver of the consumer robotics market is, the growing demand for home automation and entertainment systems. With the emergence of smart home gadgets and the Internet of Things (IoT), customers are seeking for ways to automate and simplify their lives. Consumer robots can assist address this demand by providing intelligent and autonomous devices that can do everything from cleaning and cooking to entertainment and security. Companies such as iRobot and Ecovacs Robotics have developed robotic vacuum cleaners that can travel and clean houses automatically, while Anki and Sphero have produced robotic toys that can provide amusement and education for children. In addition, firms such as Ring and Nest have created robotic security systems that can monitor and protect homes.

Additionally, with the aging of the population and the increasing frequency of chronic diseases, there is a growing demand for medical devices that can assist improve patient outcomes while lowering healthcare costs. Consumer robotics can help address this demand by delivering intelligent and autonomous gadgets that can perform a wide range of medical functions, from monitoring vital signs to assisting with rehabilitation. Companies such as Intuitive Surgical, for example, have created robotic surgical systems that can perform minimally invasive treatments with higher precision and accuracy than traditional surgical approaches. Similarly, firms like Omron Healthcare have produced robotic devices that can monitor blood pressure and other vital indicators, while companies like ReWalk Robotics have developed robotic exoskeletons that can assist patients with mobility problems walk again.

Consumer Robotics Market Segment Insights:

Consumer Robotics Type Insights

The Consumer Robotics Market is divided into two types: task robots and surveillance robots. The task robot segment led the market in 2022 and is predicted to continue its lead at a CAGR over the forecast period. The growing use of task robots in smart homes throughout the world to conduct various daily activities such as dusting, pool cleaning, floor washing, and robotics kitchen applications is propelling the market forward.

Consumer Robotics Application Insights

The Consumer Robotics Market segmentation, based on Application, includes microcontrollers, displays. The microcontrollers category now accounts for the majority of the market share in the consumer robotics market. This is because microcontrollers are a vital component of the majority of consumer robots, providing the processing power and control required for the robot to function. Companies such as Atmel Corporation, Microchip Technology, and Texas Instruments are among the industry leaders in the microcontroller market, offering innovative technologies that drive growth in the consumer robotics sector.

Figure1: Consumer Robotics Market, by Application, 2022&2032(USD Billion)

Consumer Robotics Market, by Application, 2022&2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Consumer Robotics Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Consumer Robotics Market area will dominate this market, due to the large presence of big manufacturers. Despite the fact that the four leading automation solution providers, ABB Ltd., KUKA AG, Yaskawa, and FANUC, have a domestic market outside of North America, strong demand for their products in the regional market due to high technology innovation quotient is luring the manufacturers to operate more effectively across North America.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: Consumer Robotics Market SHARE BY REGION 2022 (USD Billion)

Consumer Robotics Market SHARE BY REGION 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Consumer Robotics Market accounts for the second-largest market share due to rising automation technology usage across a variety of industries. Further, the German Consumer Robotics Market held the largest market share, and the UK Consumer Robotics Market was the fastest growing market in the European region

The Asia-Pacific Consumer Robotics Market is expected to grow at the fastest CAGR from 2024 to 2032. This is because of technical breakthroughs and increased automation at several industrial manufacturing levels across all geographical sectors. Moreover, China’s Consumer Robotics Market held the largest market share, and the Indian Consumer Robotics Market was the fastest growing market in the Asia-Pacific region.

Consumer Robotics Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Consumer Robotics Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Consumer Roboticsindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Consumer Robotics industry to benefit clients and increase the market sector. In recent years, the Consumer Robotics industry has offered some of the most significant advantages to medicine. Major players in the Consumer Robotics Market, including Wow Wee Group Limited (Hong Kong), Hasbro Inc. (US), LG Electronics Inc. (South Korea), Samsung Electronics Co. Ltd. (South Korea), and iRobot Corporation (US) and others, are attempting to increase market demand by investing in research and development operations.

A Japanese electronics and photographic company with a global presence is Ricoh Company, Ltd. On February 6, 1936, the Riken Concern, a now-defunct commercial division of the Institute of Physical and Chemical Research (Riken), established Riken Sensitised Paper. Ricoh manufactures electronic devices, primarily cameras, as well as office equipment like as printers, photocopiers, and fax machines. It also provides Software as a Service (SaaS) document management services such as DocumentMall, RicohDocs, GlobalScan, Print&Share, MakeLeaps, and projectors. From the late 1990s through the early 2000s, the company evolved to become the world's largest copier maker. February 2022 Ricoh purchased Axon Ivy AG as part of a strategic investment to broaden its digital process automation capabilities.

Consumer robots are produced by the American technology company iRobot Corporation. Three researchers from MIT's Artificial Intelligence Lab who were working on military defensive robotics and space exploration founded it in 1990. The firm sells a range of self-driving floor sweepers (Braava), hoover cleaners (Roomba) and other cleaning tools. In Jan 2022, iRobot, the maker of the most popular vacuum robot Roomba, has stated that it is working on the newest version of the disc-shaped domestic aide, which may include arms to conduct jobs such as dishwashing, food serving, and laundry.

Key Companies in the Consumer Robotics market include

  • Blue Frog Robotics (France)

  • Jibo Inc. (US)

  • 3D Robotics (US)

  • Neato Robotics (US)

  • MAKO Surgical Corporation (Florida)

  • Intuitive Surgical Inc. (US)

  • Honda Motors Company Ltd. (Japan)

  • Google Inc. (US)

  • Parrot SA (France)

  • Wow Wee Group Limited (Hong Kong)

  • Hasbro Inc. (US)

  • LG Electronics Inc. (South Korea)

  • Samsung Electronics Co. Ltd. (South Korea)

  • iRobot Corporation (US)

Consumer Robotics Industry Developments

May 2022, Amazon has opened a new Consumer Robotics Software Development Centre in Bengaluru to serve the company's Consumer Robotics division. Last year, the Consumer Robotics Division introduced its first robot, Astro. The Astro robot is intended to assist clients with duties such as home surveillance. It is powered by artificial intelligence, computer vision, sensor technology, voice and edge computing, and other technologies.

October 2022, Miko, a consumer robotics startup, announced the purchase of a controlling share in AI firm Square Off in order to broaden its product line beyond AI robot companions. Educators, engineers, psychologists, and content creators employ Miko's consumer robots. Its eponymous kids robots employ artificial intelligence to provide amusing learning experiences.

June 2022, Boston Dynamics, the global leader in mobile robotics, unveiled Spot, a robot that can climb stairs and traverse tough terrain with ease. Since January 2022, the firm has made robot Spot available to everyone via GitHub, and in June 2022, the company announced the availability of Spot for public purchase at a price of $74,500 USD.

Consumer Robotics Market Segmentation:

Consumer Robotics Market By Type Outlook

  • Task Robots

  • Surveillance

Consumer Robotics Market By Components Outlook

  • Microcontrollers

  • Displays

Consumer Robotics Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2023 USD 6.3 Billion
Market Size 2024 USD 8.13 Billion
Market Size 2032 USD 49.1 Billion
Compound Annual Growth Rate (CAGR) 25.19% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Intuitive Surgical Inc. (US), Honda Motors Company Ltd. (Japan), Google Inc. (US), Parrot SA (France), Wow Wee Group Limited (Hong Kong), Hasbro Inc. (US), LG Electronics Inc. (South Korea), Samsung Electronics Co. Ltd. (South Korea), and iRobot Corporation (US)
Key Market Opportunities Increased Investment in Various Industries
Key Market Dynamics The availability of low-cost service robots will fuel market expansion.

Frequently Asked Questions (FAQ) :

The Consumer Robotics Market size was valued at USD 6.3 Billion in 2023.

The global market is projected to grow at a CAGR of 25.19% during the forecast period, 2024-2032.

North America had the largest share in the global market

The key players in the market are Wow Wee Group Limited (Hong Kong), Hasbro Inc. (US), LG Electronics Inc. (South Korea), Samsung Electronics Co. Ltd. (South Korea), and iRobot Corporation (US).

The task robot category dominated the market in 2022.

The microcontrollers had the largest share in the global market.

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