Research Expert: Sarah Overall
  • Published: Mar 2025
  • Pages: 150
  • SKU: IRTNTR72117

  • Latest News- Consumer Robotics Market: Domestic task is expected to lead the Application segment during 2024-2028

    The Consumer Robotics Market is being driven by Growing demand for robotic automation processes

    The Consumer Robotics Market is expected to grow at a CAGR of 39.04% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 53992.6 million. In the global Consumer Robotics Market, advanced technologies such as 5G and artificial intelligence are receiving significant support from governments in Europe, North America, Asia, MEA, and South America. Notably, the Chinese Robot Industry Development Plan outlines strategic objectives for 2020, including the creation of three to five globally competitive robot manufacturers and eight to ten industrial clusters. China's domestic market share for high-end robots stands at 45%, and the government aims to raise robot density to 100 robots per 10,000 workers. In 2019, an investment of USD577 million was made by the Chinese government towards the development of intelligent robots. 

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    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on

    • Application
      • Domestic task
      • Education
      • Healthcare
      • Others
    • Distribution Channel
      • Offline
      • Online
    • Geography
      • APAC
        • China
        • Japan
        • South Korea
      • Europe
        • Germany
      • North America
        • US
      • South America
        • Middle East and Africa

        According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

        • Growing demand for robotic automation processes
        • Social factors driving adoption of robot vacuum cleaners in urban areas
        • Increasing use of IoT in robots for cost-effective predictive maintenance

        However, the market also witnesses some limitations, which are as follows:

        • High cost associated with robotic systems
        • Issues associated with battery life
        • Stringent regulations and safety concerns related to robotics

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        Market Scope in Consumer Robotics Market Research Report

        Market Scope

        Report Coverage

        Details

        Page number

        175

        Base year

        2023

        Historic period

        2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 39.04%

        Market growth 2024-2028

        USD 53992.6 million

        Market structure

        market_structure.ucfirst

        YoY growth 2023-2024(%)

        29.04

        Key countries

        US, China, Japan, Germany, and South Korea

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        Find out which segment is leading the market by accessing the free PDF report

        Research Analysis Overview

        The Consumer Robotics Market encompasses technology and engineering innovations in various robot categories, including industrial robots for cost savings in manufacturing, and service robots for household chores and niche applications. Mobile robots, autonomous drones, and semi-autonomous/fully autonomous robots are transforming industries like healthcare, home automation, and entertainment. Household robots, educational robots, and entertainment systems are revolutionizing domestic duties and smart home gadgets.

        Market Research Overview

        The Consumer Robotics Market is a segment of the larger Industrial Machinery and Supplies and Components Market, encompassing businesses involved in manufacturing technology and engineering solutions for industrial automation, household chores, and niche applications. This market's size is determined by the combined revenue generated from industrial robots, service robots, mobile robots, autonomous drones, and components used in these sectors. Key growth drivers include cost savings from automation in industries with increasing output, particularly in energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages sectors in developing countries. Technavio forecasts continued expansion of this market due to the growing demand for industrial and household automation technologies, including smart homes and advanced robotics applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


        Contacts

        Technavio Research
        Jesse Maida
        Media & Marketing Executive
        US: +1 844 364 1100
        UK: +44 203 893 3200
        Email: media@technavio.com
        Website: www.technavio.com/

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