Press release
Entertainment Robot Market Size, Trends, In-depth Analysis, Research Report Forecast up to 2027: Hasbro and Mattel are key players.
Entertainment Robot Market is expected to grow at a CAGR of 20.19% to reach a market size worth US$10.128 billion by 2027.Key factors driving the global entertainment robots market include technological advancements in AI, IoT, ML, etc., and the growing adoption of automation in various industries. Moreover, the adoption of entertainment robots globally is pushed by the rising numbers of elderly people and children. However, the high cost associated with entertainment robots, stringent rules & regulations, and the lack of knowledge in developing regions is hindering the growth of the global market during the analysis period.
According to the analysis, the market is expanding globally due to growing consumer demand for robotic toys.
A robot designed solely for the subjective enjoyment of a human being is known as an entertainment robot. Several facets of culture and entertainment make use of robotic technologies. The entertainment industry's continued efforts to integrate automation will stimulate the global demand for entertainment robots. For instance, the entertainment industry has incorporated artificial intelligence into kids' toys. Robotic toys are available for $50 to $1,000 and have a variety of designs to appeal to a variety of end users.
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The global market for entertainment robots is divided into many categories based on the type, component, and geographical region.
In terms of components, the global market has been divided into Hardware and Software. Out of all these products, the software segment is anticipated to hold a significant market share during the analysis period. Growing deployments of domestic and personal use robots drive the market expansion of the software segment of the entertainment robot industry. Moreover, new products and advancements are projected to accelerate market expansion.
Based on the type, the classification is done into Robotic Toys, Robotic Companion Pets, and others. Of all these types, the robotic toys segment is expected to hold a major market share during the analysis period. The factors driving the segment's growth include robotic toys' popularity in imitating human perception and engaging in behaviors including dancing, moving, and interacting with people. Businesses also use commercial entertainment robots to market their technology and goods. These robotic toys are used in large-scale theatre shows as props or fake actors.
Geographically, the entertainment robots market is segmented in North America, South America, the Middle East and Africa, Europe, and Asia Pacific. Out of all the geographical regions, the Asia Pacific is expected to constitute a significant market share of the global entertainment robots market. Advancements in camera and sensor technology drive the region's strong demand for entertainment robots. North America is predicted to grow fastest in the entertainment robots market because of its strong animatronics sector.
The major players covered in the global entertainment robots market are Lego, WowWee Group Limited, Sony Corporation, Hasbro, Inc., German United Robotics Group, Mattel, Inc., Sphero, Florida Robotics, Bluefrog Robotics, and Robobuilder.
This Entertainment Robot Market has been analyzed into the following segments:
• By Type
o Robotic Toys
o Robotic Companion Pets
o Others
• By Component
o Hardware
o Software
• By Geography
o North America
• USA
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• France
• United Kingdom
• Others
o The Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• China
• India
• Japan
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others
Related Reports:
• https://www.knowledge-sourcing.com/report/security-robots-market
• https://www.knowledge-sourcing.com/report/social-robot-market
• https://www.knowledge-sourcing.com/report/service-robot-market
• https://www.knowledge-sourcing.com/report/medical-robots-market
• https://www.knowledge-sourcing.com/report/nursing-robots-market
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies across ten industry verticals. KSI has a team of experienced and young professionals who focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports annually centering on the niche and latest technologies. In addition, we engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird's-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers, and challenges, and strategic recommendations for making informed decisions. Our success lies in our analysts' efforts to meet client expectations by delivering quality work within the stipulated deadlines.
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