Indoor Robots Market Share 2018, Industry Trend, Growth, Future Scope, Demand, Top Key Players Update and Global Research Report by Forecast to 2023

The global market for indoor robots is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the indoor robots market is done for North America, Europe, Asia-Pacific, and the rest of the world.

Key Players:
The prominent players in the market of indoor robots are NXT Robotics (US), Toyota (Japan), iROBOT. (US), LG Electronics (South Korea), Savioke (US), Ecovacs (China), ASUSTeK Computer Inc. (Taiwan), Omron Adept Technologies (US), Aeolus Robotics (US), and Aethon (US).

Other players include Simbe (US), Cobalt Robotics (US), pal-robotics.com (Spain), Moley Robotics (UK), Cafe X Technologies, Inc. (US), and Riken (Japan), among others.

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Indoor Robots Market – Overview

With increasing trend of industry 4.0, robots are widely used for almost every industrial or factory operation. Advancements in techologies such as AI and machine learning have transformed the ability of robots to communicate and collaboarate with humans and other fellow robots. This has liberated robots from performing repetative factory tasks and offered them new roles in domestic as well as in commercial applications. Nowadays, robots serve almost every industry vertical including BFSI, retail, healthcare, military and defence and others.

According to the International Federation of Robotics (IFR),the sale of domestic service robots is expected to grow by 42 million during the years 2016–2019. Also, the total number of professional robots sold in 2015 was estimated to be 25% more than 2014. By 2016, the market value of commercial drones is expected to be 500 million dollar. Increasing adoption of robots for domestic purposes such as cooking, assist in retail shops, engage customers in bank, and deliver room service is driving the growth of indoor robots markets. Relay, an indoor robot designed and developed by Savioke is used for hospitality and logistic purpose. The robot has been adopted by Hotel EMC2 in Chicago who poses for selfies with guest, help the hotel staff with delivering customers order to their room. Relay delivers an enhanced experience to the customers and increases the operational efficiency of the hotel. The time consumed in room deliveries is minimized as it is taken over by Relay, this allows the hotel staff to focuss on delivering positive guest experience. The sale of service robots was approximately $5 billion in 2016. Furthermore, reduced prices of robots and design and development of smaller and mobile robots is further driving the growth of indoor robots market. Also, increasing demand for security services and growing need of medical robots is further helping the market growth. Growing trend of smart or connected home is playing a significant role in the market. However, high cost of medical robots and human saftey concerns are the major factors hampering the growth of indoor robots market.

Cloud based robotics is expected to elevate the capabilities of indoor robots. Cloud helps to deliver AI and machine learning algorithms and other resources at low cost with flexible and scalable computing and stoerage resources. Also, advancements in communication technology such as 5G will offer minimum latency, high bandwidth and low battery operation which will offer reliable connectivity to the robots.

Indoor Robots Market - Segmentation:

The global indoor robots market is segmented into various segments on the basis of robot type and applications.

By robot type, the market is segmented into education and research, entertainment, security and surveillance, personal assistance and public relations, medical robots, drones and others.

By application, the market is segmented into residential, commercial, and industrial.

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Indoor Robots Market - Regional Analysis:

North America is expected to dominate the market during the forecast period. The major factor influencing the growth of market in this region is well-established economies like the US, and Canada, that are spending a large share on research and development of robotics, AI, machine learning and cognitive technologies. Also, increasing adoption of robots for domestic and commercial purposes such as cleaning, cooking, medical surgeries and others is another reason fueling the growth of indoor robot’s market. Asia-Pacific is expected to grow at a significant rate owing to increasing adoption of robots for security and monitoring purposes and increasing demand for personal assistant robots to control other devices or perform any task.

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