Personal Robots Market Trends and Opportunities by 2022; Key Players - Honda Motor Co., Ltd., Sony Electronics, Samsung Electronics, F&P Personal Robotics, ZMP Inc., Segway, Neato Robotics and ECOVACS Robotics

The global personal robots market is projected to reach $34,120.3 million by 2022, growing at a CAGR of 37.8% during the forecast period. The increase in urbanization is introducing machines, such as personal robots, in the households. Cleaning robots have been the largest contributors to the global market, whereas the market of companion robots is expected to witness the highest CAGR by 2022.

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Geographically, Europe has been the largest personal robots market, where Germany stood as the largest contributor to the regional market. In North America, the U.S. has been the major market for personal robots, whereas in Asia-Pacific, Japan has been the major contributor to the reginal revenue. Brazil was the largest market in the Rest of the World, which includes Latin American and Middle-East & African countries.

Aging population has been a major factor driving the growth of the global personal robots market. Besides, factors such as declining price of personal robots and increasing demand for mobile robots have equally proved to be the key drivers for the market. Due to the increasing aging population in developed countries, such as Japan, the demand for humanoid robots that are useful for elderly people is expected to increase.

The demand for mobile robots has been increasing due to security concerns. These robots are capable of locomotion and are not fixed to one physical location. Such robots find their application in spying, hence, are also known as spying robot. These robots can detect thieves entering a house and make out noise to make its owner aware of the robbery.

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Some of the key players in the global market include Honda Motor Co. Ltd., Sony Corporation, Samsung Electronics Co. Ltd., F&P Robotics AG, ZMP Inc., Segway Inc., Neato Robotics Inc., Ecovacs Robotics Inc., Hasbro Inc. and iRobot Corporation.

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