Global Consumer Robotics Market 2024 : Trends, Business Growth And Major Driving Factors | Amazon.com Inc., Alphabet Inc., Toyota Motor Corporation, Samsung Electronics Co. Ltd

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Consumer Robotics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $40.92 billion In 2028 At A CAGR Of 28.8%.

The consumer robotics market size has grown exponentially in recent years. It will grow from $11.58 billion in 2023 to $14.89 billion in 2024 at a compound annual growth rate (CAGR) of 28.6%. The growth in the historic period can be attributed to increased disposable income, rising interest in home automation, growth in the aging population, expansion of the smart home market, improvements in battery technology.

The consumer robotics market size is expected to see exponential growth in the next few years. It will grow to $40.92 billion in 2028 at a compound annual growth rate (CAGR) of 28.8%. The growth in the forecast period can be attributed to development of affordable and versatile robotic platforms, expanding applications in healthcare and education, rising demand for cleaning and maintenance robots, advancements in human-robot collaboration, increased focus on companion robots. Major trends in the forecast period include adoption of social robots, personalized and customizable robotic solutions, emergence of swarm robotics, focus on sustainable and eco-friendly robotics, growth of robotic-as-a-service (raas) models.

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Consumer Robotics Market Major Segments
The consumer robotics market covered in this report is segmented -

1) By Type: Autonomous, Semi-Autonomous
2) By Connectivity: Wi-Fi, Bluetooth, Other Types
3) By Distribution Channel: Offline, Online
4) By Application: Domestic Task, Education, Healthcare, Other Applications
5) By End-User: Oil And Gas, Process Industry, Chemical And Petrochemical, Power Generation, Other End User

Key Driver - The Soaring Demand For Consumer Robotics Fueled By The Rapid Adoption Of Smart Home Appliances

The growing adoption of smart home appliances is expected to propel the growth of the consumer robotics market going forward. A smart home is a residence equipped with various internet-connected devices and systems that allow homeowners to control, monitor, and automate various aspects of their living space. Consumer robots are used in smart homes to provide a better sense of automation and can be very helpful in automating several tasks in smart homes. For instance, in November 2022, according to the State of the Connected Home report that included a survey of 1000 adults across the UK conducted by techUK, a UK-based non-profit trade association, 77% of the adults in the UK own at least one smart home appliance, which is up from 67% in 2020 and 76% in 2021. Further, the number of advanced adopters of smart home devices reached 26% in 2022, up from 24% in 2021 and 17% in 2020. Therefore, the growing adoption of smart homes drives consumer robotics demand.

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Prominent Trend - Ai-Powered Solution Revolutionizes Cleaning Practices

Product innovations are a key trend gaining popularity in the consumer robotics market. Major companies operating in the consumer robotics market are developing innovative robots based on artificial intelligence technology to sustain their position in the market. For instance, in March 2021, Avalon SteriTech Limited, a China-based disinfection technology provider, and SoftBank Robotics Group Corp, a Japan-based company that develops and manufactures industrial robotics, launched Whiz Gambit, a 2-in-1 AI-powered cleaning and disinfection robotics solution. It redefines cleaning and disinfection procedures by delivering consistent and sustainable performance with agility in modifying frequency, intensity, and cleaning and disinfection practices.

Consumer Robotics Market Players
Major companies operating in the consumer robotics market report are Amazon.com Inc., Alphabet Inc., Toyota Motor Corporation, Samsung Electronics Co. Ltd., Honda Motor Co. Ltd., Nippon Telegraph and Telephone Corp., LG Electronics Inc., Xiaomi Inc., Sharp Corporation, Dyson Ltd., Intuitive Surgical Inc., Hasbro Inc., JS Global Lifestyle Co. Ltd., Ecovacs Robotics Co. Ltd, iRobot Corp., Ubtech Robotics Inc, MAKO Surgical Corp., Yujin Robot Co. Ltd., Starship Technologies Inc, Cyberdyne Inc., WowWee Group Ltd., Bossa Nova Robotics Inc, Blue Frog Robotics SAS, 3D Robotics Inc., Hanson Robotics Limited, Robosen Robotics Inc, Hoaloha Robotics LLC, Jibo Inc., Pai Technology Limited, Cecotec Innovaciones S.L.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the consumer robotics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Consumer Robotics Market Report Structure
3. Consumer Robotics Market Trends And Strategies
4. Consumer Robotics Market - Macro Economic Scenario
5. Consumer Robotics Market Size And Growth
…..
27. Consumer Robotics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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