The consumer robotics market revenues were estimated at US$ 8.7 billion in 2022 and are anticipated to grow at a CAGR of 24.3% from 2022 to 2032, according to a recent report by Future Market Insights (FMI).
By the end of 2032, the market is expected to reach a valuation of US$ 76 billion. Insights suggest that cleaning robots’ applications will dominate the consumer robotics market with a projected CAGR of 24.1% from 2022 to 2032.
Consumer robots are becoming increasingly common, and are being used as personal assistants, housekeepers, and even pet sitters. The need for solutions that save considerable time for customers is a global megatrend.
Significant price reductions for these robots have also been brought on by continual technological developments made by manufacturers worldwide. This has only propelled demand further.
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Modernization has created ample scope for the application of artificial intelligence and machine learning in the consumer robotics sector. Users now have access to tools that are quicker, smarter, and more durable than humans, all owing to consumer robots.
A robot’s ability to carry out any unpleasant, risky, or time-consuming work is an important factor that drives demand for consumer robots. Regionally, North America is expected to spearhead the growth in the global consumer robotics market.
With the USA vanguarding the sales in the region, North America is likely to witness growth at a staggering 41.4% CAGR between 2022 and 2032 for consumer robotics.
Key Takeaways from Consumer Robotics Market
- Historic CAGR of the consumer robotics market, between 2017 to 2021, was pegged at 29.5%.
- USA witnessed a growth of 27.7% CAGR between 2017 to 2021, and is expected to grow at a CAGR of 23% over the forecast period.
- China also witnessed significant growth in CAGR at 31.3% in the historical period of 2017 to 2021. It is further expected to grow at CAGR 25.4% between 2022 to 2032
- By category, products with Wi-Fi connectivity in the market are projected to lead growth at a CAGR of 24.2% over the forecast period.
- By application, the cleaning industry would generate the highest demand for consumer robotics. This is expected to be at a CAGR of 24.1% between 2022 to 2032.
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“By the end of 2032, demand for consumer robotics is predicted to surge by 8.6x. As inclination towards AI and automation rises, key consumer robotics manufacturers are eyeing the lucrative markets such as China, Japan, the USA, and the United Kingdom to capitalize on the ongoing trend.” – Says a lead analyst
Competitive Landscape
The top market players are constantly thinking of novel ways to deliver high-quality goods, as well as to patent their innovations and goods and broaden their product lines. The players, who presently have a tiny market share, are constantly working to increase their market share in 4D printing.
Some of the recent developments in the consumer robotics market are:
- In August 2021, iRobot, a leading company known for its Roomba line of robot vacuums, launched a new product – the Roomba j7+. This product uses advanced artificial intelligence to detect and avoid common household obstacles. In recent years, the company has also been focusing on expanding its product line to include new types of robots, such as the Braava line of robot mops.
- In September 2021, Amazon announced a new robot called the Astro, which is designed to function as a home assistant, following users around the house and responding to voice commands. The company has been investing heavily in robotics and automation, with an additional focus on developing robots to assist with warehouse operations.
- In September 2020, ‘PurosCare’ an intelligent disinfection service robot was launched by FutureRobot, a South Korean company. PurosCare configures autonomous driving routes and disinfection target regions using a tablet computer. It operates independently in accordance with a predetermined work plan and sanitizes facilities in the disinfection area automatically.
More Insights Available
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the consumer robotics market through historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals that growth in the consumer robotics market can be categorized by application (cleaning robots, security robots, entertainment robots, and educational robots), by connectivity (Wi-Fi, bluetooth), by type (autonomous and semi-autonomous), and by region (North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa).
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Consumer Robotics Market Segmentation
By Application:
- Cleaning/Household Robots
- Security Robots
- Entertainment Robots
- Educational Robots
By Connectivity:
- Wi-Fi
- Bluetooth
By Type:
- Autonomous
- Semi-autonomous
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Us
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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