Consumer Robotics Market 2019
As per a new report, the global consumer robotics market is likely to witness growth in the next few years. Robots are human made machines that are designed to perform variety of actions and physical tasks with an aim to reduce human efforts. Consumer robotics is shifting from being used as cleaning robots into robotic personal assistants or family companion. Even growing technologies have resulted in endless possibilities and robotic toys have transformed into more interactive connected play devices which are useful for educational purposes as well.
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• iRobot Corporation (U.S)
• Samsung Electronics Co., Ltd. (South Korea)
• LG Electronics Inc. (South Korea)
• Hasbro, Inc. (U.S)
• WowWee Group Limited (Hong Kong)
• Parrot SA (France)
• Google Inc. (U.S)
• Honda Motors Company Ltd. (Japan)
• Intuitive Surgical Inc. (U.S)
• MAKO Surgical Corporation (Florida)
• Neato Robotics (U.S)
• Dà-Jiāng Innovations Science and Technology Co., Ltd (China)
• 3D Robotics (U.S.)
• Jibo, Inc. (U.S.)
• Blue Frog Robotics (France)
The reducing prices of personal robot due to rapidly growing competition in existing market drives the demand of consumer robot which will influence its market size in the approaching years. In addition, the growing demand for homecare owing to rapidly aging population and rising prevalence of diseases further propel the consumer robot market growth.
With surge in spending power of consumers and increasing need for convenience, especially in developed countries, more consumers are buying consumer robotics across the world. Also, increasing security threats and presence of large number of players in the market has also resulted in new innovations and designs in consumer robotics. However, the performance issue might hamper the market growth in the approaching years.
The market for global consumer robotics has been segregated into type, component, verticals and end-users. Based on the type, the market has been segmented into Task Robots and Surveillance. Based on the application, the market has been segmented into On the basis of components, the market has been categorized into Microcontrollers and Displays. Based on the verticals, the market has been divided into Marketing and Data Visualization. On the basis of end-users, the global consumer robotics market has been categorized into Education and Healthcare.
Detailed Regional Analysis
The market of the global consumer robotics has been analysed across United States, Europe, India, Japan, China, Southeast Asia and Middle East & Africa (MEA). Region wise North America possesses the highest growth potential in the consumer robotics market share and will enjoy its leading position in the future as well. Some of the factors that are contributing to the development of consumer robotics market include advancements in navigation systems and artificial intelligence, growing dependency of internet and rise of hand-held computing devices are some of the factors that will drive the market size greatly. Meanwhile, rapidly aging population with dependency on healthcare services, product innovation and existence of many leading players will propel the global demand for consumer robots as well, especially in the homecare sector .
The global consumer robot market is high competition which is due to presence of well-diversified regional and international players. With growing market opportunities in the global consumer robotics market, more number of players are likely to foray into this market in the coming years and can form various different strategies including mergers & acquisitions, joint ventures etc with other companies to enhance their presence in more geographies.
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