An emerging market analysis titled “Anticipated Trends, Drivers of Growth, and Obstacles in the Personal Robots Market” has been showcased on Report Ocean.
The “Global Personal Robots Market” report offers comprehensive insights into factors affecting demand, growth, opportunities, challenges, and limitations. It covers global and regional industry dynamics, including research & development, new product launches, and responses from leading players in both global and local markets. The report provides visual representations and regional breakdowns of the Personal Robots Market.
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What’s the extent of the Personal Robots Market in terms of size?
Global Personal Robots Market is valued approximately at USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2031.
What is the Personal Robots Market?
Personal robots are made for performing various tasks such as housework, education, entertainment, and research. Individuals can benefit from it due to its design and user interface. The Personal Robots market is expanding because of factors such as growing demand for assistive robots for disabled and older population and rising development of Smart homes across the globe. Personal robot deployment in homes and hospitals is evolving due to artificial intelligence (AI) technologies including machine learning, computer vision, natural language processing, and gesture controllers. Personal robots that are intelligent enough to understand their environment, avoid static and moving objects, understand emotions, and communicate will be able to maneuver around crowded areas like houses.
The International Federation of Robotics (IFR) and Loup Ventures predict that by 2025, 22.1 million robotic vacuum cleaners will be shipped, bringing in an estimated USD 4.98 billion in revenue. As per Statista, in year 2019, the Smart Home penetration rate stood at 9.27% which increased to 10.62% in 2020 and it is projected to reach at 21.09% by 2025. As a result, with the rising penetration of smart homes, the demand for personal robots also increased. However, the high cost of Personal Robots stifles market growth throughout the forecast period of 2022-2029.
Which regions are considered in the Global Personal Robots Market study?
The key regions considered for the Global Personal Robots Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the space in terms of revenue, owing to the dominance of personal robots in healthcare, 5G penetration, and more. Furthermore, North America is the fasted growing region owing to factors such as rising technological advancement and rising penetration and adoption of advance technologies.
Major market players included in this report are:
- Sony Corporation
- Honda Motor Company Ltd
- Ecovacs Robotics Inc.
- iRobot Corporation
- Neato Robotics Inc. (Vorwerk Corporation)
- Samsung Group
- Gecko Systems International Corporation
- Hanool-Robotics Corp.
- Segway Inc. (Ninebot Company)
- F &P Robotics AG
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Recent Developments in the Market:
In August 2022, Amazon.com Inc acquired iRobot Corp, in USD 1.7 billion. The company is the developer of robot vacuum cleaners. By this deal, the company would expand its presence in personal robots as well as smart home devices market.
In Aug 2022, ECOVACS, announced the introduction of DEEBOT X1 cleaning robots. The product is fully automated and ultra-premium robotic vacuum & mop cleaning systems. The product offers an all-in-one solution with the ultimate goal of a cultural shift away from in-home, hands-on work to a truly hands-free and consistent cleaning experience.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Household Work
Entertainment
Elderly and Handicap Assistance
Home Security and Surveillance
By Region:
North America: U.S., Canada
Europe: UK, Germany, France, Spain, Italy, Rest of Europe (ROE)
Asia Pacific: China, India, Japan, Australia, South Korea, Rest of Asia Pacific (RoAPAC)
Latin America: Brazil, Mexico, Rest of Latin America (RoLA)
Rest of the World
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Report Overview:
This research offers a comprehensive exploration of the emerging trends poised to shape the future business landscape. It delves deep into the pivotal factors driving the growth of the Personal Robots market over the projected period. Furthermore, the report sheds light on strategic initiatives undertaken by leading industry players to fortify their market positions.
Market Dynamics:
Encompassing a global perspective, this study presents insights into the influential entities within the worldwide Personal Robots market. It encompasses contact details, sales figures, and global market estimates. The research draws from reputable sources and institutions, aggregating a wealth of information and insightful analysis pertaining to the global Personal Robots market.
Marketing Insights:
The study furnishes essential facts and statistics relevant for marketers, consultants, and decision-makers navigating the global Personal Robots market landscape. With comprehensive regional breakdowns, this research offers a vital resource for newcomers venturing into the global Personal Robots market. It encapsulates indispensable insights extracted from the Personal Robots Market domain, facilitating informed decision-making processes.
This report covers several key questions related to the global Personal Robots market, including:
- What can be expected for the Personal Robots market in the next decade?
- What are the primary drivers of growth in the global Personal Robots market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Personal Robots market vary based on the size of the end market?
- What is the breakdown of Personal Robots by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Personal Robots market?
Our most recent research report showcases the thriving expansion of the global Personal Robots Market and offers in-depth insights into the projected market size, share, and revenue until 2031.
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