Press release
Entertainment robots market Size to Hit USD 15.18 Billion by 2030 | Top Key Players - KUKA, Hasbro INC
The market for entertainment robots is anticipated to reach USD 15.18 billion and register a CAGR of 24.6% from 2020 to 2030.
The commercial and entertainment industries mostly rely on entertainment robots, which are made specifically for recreational use. Children, in particular, are amused by these entertainment robots' dancing, singing, and story-telling. AIBO, Poo-Chi, iDOG, Bo-Wow, Gupi, Teksta, and i-Cybie are some of the well-known robots in the entertainment sector that are used for entertainment purposes. The personal robotics industry includes entertainment robots that were created for amusement as well as recreational, commercial, and utilitarian uses.
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The market for entertainment robots has more potential for growth as a result of the use of education robots for educational objectives. The market for entertainment robots has grown as a result of the surge in demand for both educational and entertainment robots.
During the COVID pandemic, there is a decline in the creation of entertainment robots. COVID had a significant impact on the production facility. There was a noticeable reduction in labor shortages. The pandemic also reduced end-user industries' demand for production. The government enacted stringent laws and rules. He proposed policies allowing workers to work from home. Masks and gloves were to be worn at all times, and those who sought to break the restrictions were subject to harsh punishment.
Market Segment
By Type
The market for entertainment robots has been segmented into product and end-user segments globally. The market is divided based on products into three categories: companion robots and robotic pets, as well as entertainment and toy robots. The commercial entertainment robots market has been segmented into media, educational applications, retail, and many more areas based on end-user.
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By Technology
During the review period, technological development helped modernize the entertainment industry and opened up new business options. Technology advancements during the predicted period result in the usage of several automated manufacturing production tasks with high productivity.
Regional Analysis
Market size and volume growth provide details on the product, end users, and segmentations that the nation has chosen to use. The United States, Canada, Mexico, North America, Brazil, and certain regions of South America, as well as Germany, Italy, France, the United Kingdom, and some regions of Europe, are the nations with the highest levels of marketing for amusement and robot toys. The Philippines, Australia, several of the nations in Asia-Pacific like China and India, Saudi Arabia, Indonesia, Thailand, Egypt, and many more are among the other nations. The Asia-Pacific area controls the entire sector as a result of technological improvement and modernization, which has increased the market size.
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Industry News
In April 2018, Sony formed a relationship with Carnegie Mellon University, which works well with Sony in the fields of robotics and artificial intelligence research and development.
In May 2017, Sphero and another company came to an agreement to create an app-enabled race car called the Ultimate Lightning McQueen. An innovative and updated SPRK Lightning Lab app has been made available by Sphero.
Robobuilder and SK Telecom signed an MoU and produced robots in July 2016. Robobuilder gave the Korea Hydro and Nuclear Plant organizations a humanoid rubber sculpture.
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