Household Robot Market worth $24.16 billion by 2030, growing at a CAGR of 16.71% - Exclusive Report by 360iResearch

The "Household Robot Market by Component (Product, Services), Type (Domestic, Entertainment & Leisure), Distribution Channel, Application - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Household Robot Market to grow from USD 8.18 billion in 2023 to USD 24.16 billion by 2030, at a CAGR of 16.71%.

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A household robot is an autonomous machine designed to assist with or perform various tasks within a domestic environment, including vacuuming, lawn mowing, window cleaning, assisting the elderly or disabled with day-to-day chores, providing security surveillance, and even offering companionship. Household robots are integrated with advanced technologies, including artificial intelligence, machine learning, sensors, and actuators, enabling them to interact with human beings and their surroundings in an intelligent manner. The primary objective of household robots is to enhance convenience, improve efficiency in home management, and provide support to individuals by taking over repetitive or labor-intensive tasks. The household robots market is growing rapidly, driven by advancements in AI and robotics, surging demand for time-saving solutions, and the need for companionship for an aging population. Despite the rapid growth, the market faces challenges such as high robot development costs, household robot maintenance issues, and privacy threats. However, opportunities for market players lie in developing cognitive capabilities, health monitoring, and advanced recognition technologies alongside the expansion of online retail platforms. Market innovation focusing on enhancing AI, exploring new materials and energy sources, and creating user-friendly interfaces compatible with various smart home devices further presents a lucrative scope for the global household robots market.

The market for household robots in the Americas is experiencing significant growth, attributed to the advancements in artificial intelligence and machine learning. As consumer adoption increases, North America, particularly the United States, remains at the forefront of this market, with a substantial demand for robotic vacuum cleaners, lawnmowers, and pool cleaning robots. In addition, Latin America is showing growth potential, albeit from a smaller base, influenced by the rising middle class and tech-savvy populace. The Europe, Middle East, and Africa region shows a diverse market landscape for household robots, with Europe demonstrating a high adoption rate for cleaning and entertainment robots, focusing on energy efficiency and high-tech features. The Middle Eastern market is witnessing a surge in demand, fueled by a young, tech-centric demographic and increasing disposable incomes. Asia-Pacific (APAC) is anticipated to be the fastest-growing region for household robots, bolstered by the presence of significant market players and manufacturers in countries including Japan, South Korea, and China. Rising urbanization, a growing middle class, and an inclination towards smart home technologies are key drivers for household robots in this region. Additionally, the APAC market benefits from a favorable manufacturing environment and supportive government policies towards robotics and automation.

Market Segmentation & Coverage:

This research report categorizes the Household Robot Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Product and Services. The Product commanded largest market share of 78.96% in 2023, followed by Services.

Based on Type, market is studied across Domestic and Entertainment & Leisure. The Domestic commanded largest market share of 66.96% in 2023, followed by Entertainment & Leisure.

Based on Distribution Channel, market is studied across Offline and Online. The Offline commanded largest market share of 61.56% in 2023, followed by Online.

Based on Application, market is studied across Companionship, Elderly & Personal Assistance, Lawn Mowing, Robot Toys, Security & Surveillance, and Vacuuming & Cleaning. The Vacuuming & Cleaning commanded largest market share of 22.92% in 2023, followed by Companionship.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.07% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Household Robot Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Household Robot Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Household Robot Market, highlighting leading vendors and their innovative profiles. These include Aeolus Robotics Corporation, Aisoy Robotics, S.L., Alfred Kärcher SE & Co. KG, Amano Corporation, Amazon.com, Inc., ASUSTeK Computer Inc., Avidbots Corp., Beijing Roborock Technology Co., Ltd., Bissell Homecare, Inc., Blue Frog Robotics SAS, Bobsweep Inc., Cleanfix Reinigungssysteme AG, CYBERDYNE Inc., Digital Dream Labs, LLC, Diversey, Inc. by Solenis LLC, Dyson Limited, Ecovacs Robotics Co., Ltd., Engineered Arts Limited, Eureka Forbes Limited, fischer Deutschland Vertriebs GmbH, Friendly Robots Company, GUANGDONG BONA ROBOT CO., LTD, Haier Group Corporation, Hanson Robotics, Limited, Honda Motor Co., Ltd., Husqvarna Group, InGen Dynamics Inc., Innovation First International, Inc., Intuition Robotics Ltd., iRobot Corporation, LEGO System A/S, LG Corporation, lubluelu, Makita Corporation, Maytronics Ltd., Miele, Miko Robot, Panasonic Holdings Corporation, Peppermint Robotics, Pitsco Education, LLC, Preferred Networks, Inc., Primo Toys, Probotics America, Robolink, Robosen Technologies Ltd., Samsung Electronics Co., Ltd., Shanghai Gaussian Automation Technology Development CO., LTD, SoftBank Robotics Group Corp., Sony Group Corporation, Sphero, Inc., SZ DJI Technology Co., Ltd., Toyota Motor Corporation, UBTECH ROBOTICS CORP LTD., Vorwerk Deutschland Stiftung & Co. KG, WowWee Group Limited, and Xiaomi Corporation.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Household Robot Market, by Component
7. Household Robot Market, by Type
8. Household Robot Market, by Distribution Channel
9. Household Robot Market, by Application
10. Americas Household Robot Market
11. Asia-Pacific Household Robot Market
12. Europe, Middle East & Africa Household Robot Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Household Robot Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Household Robot Market?
3. What is the competitive strategic window for opportunities in the Household Robot Market?
4. What are the technology trends and regulatory frameworks in the Household Robot Market?
5. What is the market share of the leading vendors in the Household Robot Market?
6. What modes and strategic moves are considered suitable for entering the Household Robot Market?

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