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Entertainment Robots Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Entertainment Robots
How Large Will the Entertainment Robots Market Size By 2025?
The market size for entertainment robots has experienced exponential growth in recent years. The sector, which was valued at $35.6 billion in 2024, is expected to increase to $44.33 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 24.5%. This significant historical growth can be linked to the rising consumer curiosity in robotic technology, the merging of augmented reality (AR) and virtual reality (VR), worldwide popularity of robotics competitions, growth of artificial intelligence and machine learning, and the global proliferation of robot-as-a-service (RaaS).
How Big Is the Entertainment Robots Market Size Expected to Grow by 2029?
In the coming years, the market size for entertainment robots is projected to undergo significant growth, escalating to "$114.17 billion by 2029 at a compound annual growth rate (CAGR) of 26.7%. This predicted growth during the forecasted period can be linked to the rapid developments in human-robot interaction technology, the rise of social robots, growth of theme parks and entertainment venues, and trend towards customization and personalization. Furthermore, the focus on educational and 'edutainment' robots is also driving this growth. Key trends anticipated during the forecast period are the incorporation of 5g technology, collaboration between entertainment and technology corporations, greater affordability of robotic technology, advancements in robotic technology, and enhancements in human-robot interaction (HRI).
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Which Key Market Drivers Powering Entertainment Robots Market Expansion and Growth?
The entertainment robots market is predicted to surge due to greater acceptability of robots. Robots are increasingly used for educational, therapeutic, and caregiving purposes for both children and elderly adults, including teaching subjects like mathematics, science, and programming to children, and helping adults stay active and involved. There's also a development in robotics designed to assist the elderly in routine tasks such as house cleaning, fetching items, getting in and out of bed, eating, and moving around. The International Federation of Robotics (IFR), a German association dedicated to the robotics industry, reported in September 2023 that global industrial robot installations increased by 5% in 2022, with Asia leading at 73%. The market is expected to further expand by 7% in 2023, surpassing 590,000 units. As a result, the growth of the entertainment robots market is being spearheaded by the escalating use of robots.
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Which Fast-Growing Trends Are Poised to Disrupt the Entertainment Robots Market?
The entertainment robots market is seeing a rising trend in the application of advanced artificial intelligence technologies. Firms involved in this market are employing cutting-edge technologies to maintain their competitive stance. In a recent demonstration of this trend, Miko, an Indian company specializing in consumer electronics, artificial intelligence, and machine learning, introduced its new AI-enabled educational robot, Miko 3, in February 2022. Equipped with a high-definition wide-angle camera, a speed range sensor, and odometric detectors, Miko 3 can dynamically compute distances and avoid obstacles. Additionally, its Mikonnect video calling feature guarantees a secure, uninterrupted connection between kids and their parents.
What Are the Emerging Segments in the Entertainment Robots Market?
The entertainment robots market covered in this report is segmented -
1) By Product: Robot Toys, Educational Robots, Robotic Companion Pets
2) By Component: Software, Hardware
3) By End-User: Media, Education, Retail, Other End Users
Subsegments:
1) By Robot Toys: Remote-Controlled Robots, Interactive Robot Toys, Building And Construction Robot Kits
2) By Educational Robots: Coding And Programming Robots, STEM Learning Robots, Robotics Kits For Schools
3) By Robotic Companion Pets: Robotic Dogs And Cats, Interactive Pet Robots, Emotional Support Robotic Pets
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Who Are the Global Leaders in the Entertainment Robots Market?
Major companies operating in the entertainment robots market include Sony Corporation, Hasbro Inc., Lego Group, Honda Motor Co. Ltd., Mattel Inc., WowWee Group Limited, Blue Frog Robotics, SoftBank Robotics Group Corp., UBTECH Robotics Corp., Robosen Robotics Co. Ltd., Anki Inc., Spin Master Ltd., Sphero Inc., Fischertechnik GmbH, iRobot Corporation, Tomy Company Ltd., Parrot SA, Boston Dynamics Inc., AIBrain Inc., Robotis Inc., Segway Robotics Inc., Ozobot & Evollve Inc., KUKA AG, Aldebaran Robotics SAS, Hanson Robotics Ltd., VTech Holdings Limited, ROBOLOCO Inc., Neato Robotics Inc., DJI Technology Co. Ltd., Furhat Robotics
Which are the Top Profitable Regional Markets for the Entertainment Robots Industry?
Asia-Pacific was the largest region in the entertainment robots market in 2024.North America is expected to be the fastest-growing region in the global entertainment robots market report during the forecast period. The regions covered in the entertainment robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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