Personal Service Robotics Market Forecasts Accruals of USD 35 billion by 2022 at High Increasing CAGR of 38%

Global Personal Services Robotics Market, By Component (Hardware, Software), By Application (Cleaning Robot, Entertainment & Toy Robot, Education Robot, Handicap Assistance Robot, Companion Robot, Personal Transportation Robot, Security Robot) - Forecast 2022

Market Synopsis of Global Personal Services Robotics Market:

Market Scenario:
Personal robots are basically pre-assembled and pre-programmed robots which are used for personal and household applications. The personal robots is designed in such fashion that consumers with less robotic knowledge can operate it effectively and conveniently. The major opportunity witnessed in the field of personal robots industry is due to low-cost cleaning robots.

The factor contributing to the growth of the personal services robotics is aging population in the developed countries. Also, due to the growing aging population in developed countries such as Japan, the demand for humanoid robots is high among the adults. High disposable income and the need for convenience in the developed countries are also boosting the demand of personal service robots.

The declining price of personal robots is encouraging the budget-conscious customers to purchase them. Due to the competitive pricing of raw material the average cost of personal robots has declined over the last few years. This decline in prices of raw material had a significant impact on the overall manufacturing of personal service robots. However, still the personal robots are only be afforded by the higher economic class which acts as a barrier for the growth of the personal services robotics market.

The increasing demand for mobile robots has been increasing due to security concerns. These robots are not fixed to only one physical location they are capable of locomotion. For instance, these robots can be applied for spying to detect theft.

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Geographically, North America accounted to have for the largest market share in the global personal service market followed by Europe whereas Asia Pacific region is expected to grow at a fast pace over the forecast period 2016-2022.

The global personal service robotics market is expected to reach USD 35 billion by the end of 2022 with ~38% CAGR during forecast period 2016-2022

Segments
For the purpose of this study, Market Research Future has segmented the market of personal service robotics market into application and region.

By Application-
• Cleaning Robot
• Entertainment & Toy Robot
• Education Robot
• Handicap Assistance Robot
• Companion Robot
• Personal Transportation Robot
• Security Robot

By Region-
• North-America
• Europe
• Asia-Pacific
• RoW

Out of these applications, cleaning robot accounted for the largest market share majorly due to the increasing demand of humanoid robots among the indivisual.

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Regional Analysis:
Regionally, North America accounted for the largest market share for personal service robots, especially in U.S. because of high disposable income and adoption of modern technologies.

Asia-Pacific region is expected to grow over the forecast period, 2016-2022 because of growing demand for humanoid robots in Japan, the growing population and high investments for technological advancements.

Key Players
The key players of global personal service robotics market report include Honda Motor Co Ltd. (Japan), Ecovacs Robotics Inc (China), Samsung Electronics Co. Ltd. (Korea), F&P Robotics AG (Switzerland), Hanool Robotics Corp. (Korea), ZMP Inc (Japan)., Segway Inc.(U.S.), Neato Robotics Inc (U.S.)., Hasbro Inc.(U.S.), iRobot Corporation (U.S.) and others.

BRIEF TOC:
1. EXECUTIVE SUMMARY
2. RESEARCH METHODOLOGY
3. MARKET DYNAMICS
4. GLOBAL MARKET SEGMENTATION
5. REGIONAL MARKET ANALYSIS
6. COMPETITIVE ANALYSIS
7. CONCLUSION
8. LIST OF TABLES
9. LIST OF FIGURES

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