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Consumer Robotics Market - Size, Share, Industry Trends, Demand and Growth by 2023
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Based on industry verticals, the market can be divided into educational robotics kits, consumer robotics segment, tele-presence robots, UAVs, industrial robotics and healthcare robotics. Based on components, the market can be divided into processors, communications technologies, software, microcontrollers, displays, cameras, actuators, power supplies, sensors, manipulators, mobile robots, mobile platforms, wheels, legs, hopping, ball, walking and other mobility options outdoor land locomotion, outdoor water locomotion, locomotion for flying through the air.
The major trends that have supported the development of consumer robotics market on a large scale include advancements in navigation systems, artificial intelligence, ubiquity of the internet and rise of hand-held computing devices. The increase in the number of hand held computing devices such as smart phones, tablets and smart watches has made it easier to develop robots for consumer and office applications. Mobile devices offer users the opportunity to outsource computing to companion devices by allowing developers to produce application controlled robots at accessible price.
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The advancement in consumer robotic technology is enabling people to devote most of their time in important tasks, as robots take on their daily household chores, which is one of the major factors behind their increasing adoption.
Reluctance of substituting manual labor with service robots in traditional field operations is the biggest challenge for the growth of robotics market. The high price of robots is another major restraint for consumer robotics market. The consumer robotics market, being in nascent phase, demands high price for key technologies that power object manipulation and robot mobility.
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Some of the major companies operating in the consumer robotics market are Intuitive Surgical Inc., Honda Motors Company Ltd., iRobot Corporation, Google Inc., and MAKO Surgical Corporation.
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