The household robot market value is estimated to be around US$ 14.7 billion in 2024, increasing from US$ 5 billion in 2019. Sales of household robots are expected to surge at a CAGR of 20.6% from 2024 to 2034 in comparison to the 24.7% recorded from 2019 to 2023. Consequently, the household robot manufacturing industry is forecasted to garner a revenue of around US$ 96 billion by the end of the projected period.
The demand for intelligent and effective home management solutions is at an all-time high among consumers with busy professional lives. The popularity of household robots skyrocketed during the pandemic years as at-home solutions for daily activities became necessary to follow strict cleanliness routines.
By taking care of a typical home task, robotic vacuum cleaners have played a crucial role in the rise of household robots in the last decade. An increase in the percentage of the elderly population is expected to fuel the home companion robot market sales in the Western and Eastern Asia markets in the coming decade.
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Key Takeaways from the Household Robot Market Study Report:
- The market is predicted to witness an absolute growth opportunity of US$ 80 billion over the next ten years.
- The United States currently accounts for 17.7% of the market, which is poised to advance further at a CAGR of 20.8% through 2034.
- In Europe, the United Kingdom holds a lucrative market and is forecasted to thrive at a 21.2% CAGR from 2024 to 2034.
- China is the leading manufacturer of household robots in Asia, which is likely to develop further at a CAGR of 21% until 2034.
Competitive Landscape
The market is concentrated in nature as most of the leading players are currently located in China, Europe, and the United States. Industry-wide initiatives, like the IEEE Robotics and Automation Society standards, are underway to create standards for data security, connectivity, and robot design.
Key Players:
- Samsung Electronics Co. Ltd.
- iRobot
- Neato
- Ecovacs
- LG Electronics Inc.
- Dyson
- Alfred Kärcher
- Lego
- John Deere
- iLife Innovation
- BSH Hausgeräte
- Miele
- Robomow
- Blue Frog Robotics
- Husqvarna
Recent Developments
- According to some leaked documents in May 2023, Amazon Inc. has a new generative AI technology dubbed Burnham, which can make its Astro home robot smarter. As per these confidential docs obtained by Insider, Amazon is working on a covert new AI robot project to provide smart home robots with intelligence and a conversational spoken interface. Large language models and other cutting-edge AI are anticipated to enable the robot to engage in a Q&A dialogue on what it saw and take action.
- In January 2024, Samsung introduced a spherical home robot, Ballie, for those who need a little additional assistance around the house. Samsung has been introducing seemingly prototypes of Ballie since 2020. However, this revised model is the company’s first real effort to create a companion robot for the house, as opposed to merely a motorized device like an intelligent vacuum cleaner.
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Key Segments Covered by Household Robot Industry Survey Report:
By Type:
- Domestic
- Entertainment
By Component:
- Product
- Services
By Application:
- House Cleaning
- Lawn Mowing
- Companionship
- Toys and Hobby
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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