PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441375
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1441375
Global Consumer Robotics Market is valued at approximately USD 6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 26.7% during the forecast period 2023-2030. Consumer robots are small, user-friendly robotic devices designed for personal or domestic use, streamlining several tasks to improve daily life. These robots, which are usually portable and easy to use, have become widespread in households all over the world. Their application ranges from basic hoovers and floor cleaners to more advanced machines such as lawn mowing, pool cleaning, and snow removal. The Consumer Robotics Market is expanding because of factors such as the increasing adoption of consumer robots in household chores, the rising use of robots in elderly health care due to the rising burden of chronic diseases worldwide and the growing adoption of robots in personal education and development.
Traditional caregiving options, such as professional services or family support, often face limitations - affordability, availability, or emotional detachment. Furthermore, falls, medication errors and isolation are major concerns for aging individuals living alone. Robots can address these by providing fall detection and emergency alerts, ensuring medication adherence, and offering a cost-effective, readily available, and non-judgmental alternative, assisting with daily tasks such as medication reminders, light housekeeping, and even basic medical monitoring. For instance, according to a report by the International Federation of Robotics in 2022, 46% of consumers see robots as capable of improving elder safety and security. Moreover, according to the World Bank Group, the global elderly population was 727 million in 2020 and is expected to triple over the next three decades, reaching 1.5 billion in 2050. Additionally, technological advancements in robots such as the integration of AI and ML algorithms capable of predicting and reacting to specific circumstances based on data gathered from a range of sensors leverage the usage of robots in various industrial and surgical applications. Such technical improvements are expected to continue over the forecast period, creating market opportunities for manufacturers operating in the market. However, factors such as consumer privacy and non-affordability for mass consumption hampers the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Consumer Robotics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to factors such as increased adoption of technologies such as Artificial Intelligence (AI) and Internet of Things (IoT), rising demand for automation in various end-use sectors, and the growing desire for more automated and efficient consumer solutions. Asia Pacific is expected to grow significantly over the forecast period owing to factors such as emerging technological hubs in developing countries such as China, India and Indonesia, technological breakthroughs, and increased automation in various industries such as manufacturing, healthcare and assembly.
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:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable