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April 6, 2020, 9:36 a.m. EDT

New Tools & Technology Development will drive Consumer Robotics Market| Global Industry Overview By Size, Share, Trends, Segments, Application, Platform and Regional Trends By 2023

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Apr 06, 2020 (Heraldkeepers) -- Consumer Robotics Market Research Report 2020: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation By Type (Task Robots, Surveillance), Components (Microcontrollers, Displays,), Verticals (Marketing, Data Visualization), End-Users (Education, Healthcare) – Forecast Till 2023

The global consumer robotics market size is prompted to record ~19% CAGR during the forecast period, 2017-2023. The progress in the market can be observed with the rising factors from all corners of the globe that has compelled the market to gain a valuation of USD ~17 billion by the year-end of 2023.

The well-known market contenders in the global consumer robotics market are listed as –

Samsung Electronics Co., Ltd. (South Korea), iRobot Corporation (U.S), Hasbro, Inc. (U.S), LG Electronics Inc. (South Korea), Parrot SA (France), WowWee Group Limited (Hong Kong), Honda Motors Company Ltd. (Japan), Google Inc. (U.S), MAKO Surgical Corporation (Florida), Intuitive Surgical Inc. (U.S), Da-Jiāng Innovations Science and Technology Co., Ltd (China), Blue Frog Robotics (France), Neato Robotics (U.S), Jibo, Inc. (U.S.), 3D Robotics (U.S.), among others.

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Top Impacting Factors: Consumer Robotics Market

The consumer robotics market has attained significant recognition from the past few years in line with the mounting popularity of robotic automation. Consumer task robots mimic human actions to perform tasks in the same way a human performs. The use of robotics in consumer tasks assists in achieving time, cost, and comfort linked benefits. Moreover, reduction in efforts and surged peace of mind are among the vital consumer benefits the robotics technology offers. The essential components used in consumer robotics comprise software, processors, sensors, microcontrollers, cameras, actuators, manipulators, displays, communication technologies, power supplies, balls and legs, mobile platforms, and many more.

With this, significant trends have supported the development of consumer robots on a large scale. The trends, therefore, include advancements in ubiquity of the internet artificial intelligence and navigation systems, the rise of more computing devices such as smartphones, tablets, and smartwatches. Mobile hardware and software possess the ability to control consumer robots, and thus, a large number of computing tasks are outsourced to these devices. These services incorporate similar skills and can be used to automate various consumer activities such as cleaning dirty kitchen floors, vacuuming, and entertainment, and many more. All these factors are contributing to creating a higher valuation of the global consumer robotics market in the assessment period.

In a more extended approach, the global robotics market is also experiencing massive shifts towards consumer and office applications in contrast to its industrial and logistic uses. Any kind of slow, dirty, or dangerous task can be performed using robots. This is one of the influential factors accelerating the adoption of this technology. While the market for consumer robots is growing, safety concerns regarding inaccuracies in the operation of robots are hindering the market's growth. On the contrary, the benefits associated with the use of robots over manual processes present immense growth opportunities for the global consumer robotics market in the foreseeable years.

Intended Audience

  • Consumer robotics companies

  • Consumer robotics providers

  • Technical universities

  • System integrators

  • Managed Security Service Providers

  • Professional service providers

  • Research and development companies

  • Market research and consulting firms

  • Solution providers

  • Technology standards organizations

  • Technology investors

  • System Integrators

Segmentation of Market: Consumer Robotics

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