Press release
Consumer Robotics Market Forecast: Reaching US$ 62.01 Billion by 2029 with a 21.83% CAGR
Consumer Robotics Market Research Report
Consumer Robotics Market Report Overview:
In a recent report released by industry experts, the consumer robotics market is slated for a remarkable growth trajectory, with projections indicating a staggering value of US$ 62.01 billion by the end of 2029. This exponential surge is anticipated to occur at a compound annual growth rate (CAGR) of 21.83%.
The driving force behind this meteoric rise lies in the widespread adoption of consumer robots. These range from household essentials such as cleaning and vacuum robots to educational and entertainment-centric robotic companions. Factors fueling this adoption include the burgeoning smart home trend, relentless technological innovations in autonomous robotics, and a burgeoning demand for small-scale domestic robots.
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Consumer Robotics Market Scope and Research Methodology:
Our research methodology encompasses a blend of primary and secondary research techniques to gather and analyze data from multiple reliable sources. The report employs various analytical tools and models to provide accurate market forecasts and insights. Additionally, it includes a comprehensive SWOT analysis and Porter's Five Forces analysis to assess the competitive landscape and market attractiveness.
Consumer Robotics Market Segmentation:
by Type
Task Robots
Security & Surveillance Robots
Entertainment Robots
Educational and Personal Robots
Other
by Component
Processors
Communications Technologies
Software
Microcontrollers
Displays
Cameras
Actuators
Others
by Application
Educational
Domestic
Industrial
Healthcare
Others
The market was led by the task robot segment in 2022, and this trend is anticipated to continue at a CAGR of % throughout the course of the forecast period. The market is expanding as more task robots are being used in smart homes worldwide to carry out routine duties including dusting, cleaning pools, mopping floors, and robotic kitchen applications. Research indicates that MMR predicted that the use of smart homes will propel the need for consumer robotics by around 39 million shipments, with consumer robots likely to be installed in 79 million households worldwide over the course of the next five years. On the other hand, a strong growth rate of % is anticipated for the educational robot market over the course of the forecast year.
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Consumer Robotics Market Key Players:
1.iRobot Corporation
2.Samsung Electronics Co., Ltd
3.LG Electronics Inc
4.Hasbro, Inc
5.WowWee Group Limited
6.Parrot SA
7.Google Inc
8.Honda Motors Company Ltd
9.Intuitive Surgical Inc
10.MAKO Surgical Corporation
11.Neato Robotics
12.Dà-Jiāng Innovations Science and Technology Co., Ltd
13.3D Robotics
14.Jibo, Inc
15.Blue Frog Robotics
Consumer Robotics Market Regional Insights:
The report provides insights into the regional landscape of the Consumer Robotics market, highlighting key trends, growth drivers, and challenges in each geographic region. It offers a comprehensive analysis of market dynamics, regulatory frameworks, and investment opportunities across major markets, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Inquiries:
• What are the key factors driving the growth of the Consumer Robotics market?
• What are the major challenges hindering market growth, and how can they be addressed?
• What are the emerging trends and opportunities in the market?
• Who are the leading players in the Consumer Robotics market, and what are their strategies to maintain their position?
• Which regions are expected to witness significant growth in the forecast period, and why?
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Primary Offerings:
• Comprehensive analysis of the Consumer Robotics market, including drivers, restraints, opportunities, and challenges.
• In-depth segmentation of the market based on product type, application, end-user industry, and geography.
• Profiling of key players and assessment of their strategies, product portfolios, and recent developments.
• Regional analysis with insights into market dynamics, regulatory landscape, and investment opportunities.
• Market forecasts and trends for the period 2023-2029, aiding stakeholders in making informed decisions.
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