Household Robots Market Size to Grow at a CAGR of 22% in the Forecast Period of 2023-2028

The 'Global Household Robots Market Share, Size, Growth, Report and Forecast 2023-2028' by Expert Market Research gives an extensive outlook of the global household robots market, assessing the market on the basis of its segments like offering, type, application, and major region.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.

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Household Robots Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2022): USD 4.47 billion
Forecast CAGR (2023-2028): 22%

The rapid emergence of smart cities across developing and developed economies has been increasing the penetration of automation and inter-connected infrastructure across the households. Robots built for household can help monitor pets, children, and geriatrics, ensure safety and security, control lighting systems, adjust home temperatures, and be used for entertainment. The multi-faceted features and capabilities of robots in households are thereby escalating the growth of the household robots market.

In addition, the increasing affordability of luxury add-ons by the urban population, supported by rising living standards and growing population, is providing impetus to the market for household robots. Moreover, the growing passion for technology among millennials is further fuelling the household robots market growth.

Rising number of startups dedicated towards building advanced household robots is escalating awareness as well as accessibility of high-end robots. Heightening development of autonomous robots with app integration and smart navigation features, coupled with the growing adoption of smartphones and tablets is leading to an integrated infrastructure, thereby bolstering the convenience of household robot users. Over the forecast period, the anticipated increase in sale of vacuuming robots, owing to the rapid development of large mansions and bungalows, is likely to expand the opportunities for global market for household robots.

Household Robots Industry Definition and Major Segments

A household robot, also knowns as a domestic robot, refers to an electronic robotic device developed to execute various tasks inside or around a house. The device can perform several functions easily and quickly, such as house cleaning, infant monitoring, operating kitchen appliances, and sweeping and mopping, among others.

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Based on offering, the market is categorised into:

Products
Services

By type, the market is segmented into:

Domestic
Entertainment and Leisure

On the basis of application, the market is divided into:

Vacuuming
Lawn Mowing
Pool Cleaning
Companionship
Elderly Assistance and Handicap Systems
Robot Toys and Hobby Systems
Others

Based on region, the market is categorised into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Household Robots Market Trends

The key trends in the global household robots market include robust innovations and increasing investments towards research activities which are facilitating the development of unique robots for homes, such as empathetic companion robot, educational robot, and indoor and outdoor robot. Further supported by emerging technologies such as artificial intelligence (AI), machine learning (ML), and internet of things (IoT), the household robotics infrastructure is likely to witness a steady growth in the forecast period.

Incorporation of machine vision cameras and threat detection technology are anticipated to enhance the quality of safety offered by these robots. In this regard, the increasing geriatric population across emerging economies is likely to increase the demand for household robots in the forecast period.

In geographical terms, North America is likely to be a fast-growing region in the global household robots market. In countries like the United States and Canada, household help and maid services tend to be quite expensive due to limited labour availability, which is expected to emerge as an opportunity for the market for household robots in the region. Well-established robotic infrastructure across the region is further likely to increase the sale of household robots in the coming years.

Key Market Players

The major players in the global household robots market report are :

Puresight Systems Private Limited
Neato Robotics, Inc.
Samsung Electronics Co., Ltd.
Ecovacs Robotics, Inc.
Alfred Kärcher SE & Co. KG
Dyson Limited
LG Electronics Inc.
others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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