Press release
Entertainment Robots Market: Quantitative Market Analysis, Current and Future Trends
The global entertainment robots market is expected to be driven by the fact that the entertainment industry continuously looks to adopt automation in this industry. For instance, the entertainment industry has used artificial intelligence (AI) in children’s toys. The entertainment robots market is focused on end-users such as geriatric population and children.
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This is expected to drive the entertainment robots market during the forecast period. However, the entertainment robotics industry needs high initial investment. Moreover, this industry lacks skilled labor, and hence the market has not expanded exponentially. These factors are likely to inhibit the entertainment robots market.There are various applications of entertainment robots such as movies, band performances, dance performances, video games, live performances, and robot competitions.
One of the key trends in the entertainment robots market is the development of humanoid robots. Sarcos Corp., a U.S.-based company, has developed intelligent and elegant humanoid robots and virtual reality platforms. The company manufactures durable and hypersensitive entertainment robots. Currently, robot toys ranges from US$ 50 to US$ 1000 and are available in varied designs to cater to diverse end-users. These robots are utilized as personal companions for children at home.
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Some of the notable robotic toys under commercial models are Aibo, Poo-chi, Bo-wow, I-Cybie, iDog, Gupi, Space dog, K-9, Preston, and Goddard. Moreover, the commercial entertainment robots are used as a marketing tool while promoting their products and technology. These robots are used as artificial performers or a prop for stage performances with a large audience. The non-commercial applications for the entertainment robots are those placed on the shelves of the museums with interactive performances.
The global entertainment robots market has been segmented based on product, component, type, application, and region. In terms of product, the entertainment robots market has been divided into robotic toys, robotic companion pets, and others. Based on component, the market has been bifurcated into software and hardware. The application segment can be further bifurcated as residential and commercial applications. The residential segment target the kids, guests and the older people.
Whereas, the commercial applications covers largest market share which includes, entertainment venues, museums, live performances, malls, parks, amongst others. The hardware segment has been further split into sensors, control system, actuators, others. In terms of type, the market has been divided into real-time robots and non-real time robots. Based on geography, the global entertainment robots market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Key players operating in the entertainment robots market includes Aldebaran Robotics (Japan), Blu Frog Robotics (France),Hasbro, Inc. (U.S.), Mattel, Inc. (U.S.), Robo Builder (South Korea), Robotics Inc. (U.S.), Sony Corporation (Japan), Sphero, Inc. (Hong Kong), Modular Robotics (U.S.), Toshiba Machine Co. Ltd (Japan), and WowWee Group Limited. (Hong Kong). The entertainment robotics players are expected to develop and manufacture advanced entertainment robotic systems due to increasing investment in artificial intelligence and augmented reality in the near future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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