The Entertainment Robots Market is being driven by Increasing demand for entertainment robots for leisure purposes
The Entertainment Robots Market is expected to grow at a CAGR of 34.24% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 96882 million. The global entertainment robots market is undergoing a notable transformation, with a heightened emphasis on collaboration and the introduction of innovative products. In response to this evolving landscape, companies are forming strategic partnerships to harness diverse expertise and resources, enabling them to expand their product portfolios and push the boundaries of technology. Notably, in October 2022, HANSON ROBOTICS Ltd. announced a collaboration with Asia Entertainment Technology Limited, trading as Playasia, to develop, manufacture, and distribute a new line of merchandise inspired by SOPHIA the Robot. This collection, targeted at SOPHIA's international fanbase, encompasses themed apparel, artwork, posters, and collectibles, all of which will be accessible for purchase through SOPHIA's online boutique.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 34.24% |
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Market growth 2024-2028 |
USD 96882 million |
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Market structure |
fragmentation |
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YoY growth 2023-2024(%) |
26.96 |
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Key countries |
US, Germany, China, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Entertainment Robots Market is a dynamic and innovative sector at the intersection of technology and cultural entertainment. This market encompasses a wide range of robots designed to provide narrative environments and multimedia tasks, from singing and dance routines to face and voice recognition. These robots are showcased at trade fairs and exhibitions, drawing crowds with their advanced capabilities and captivating performances. Entertainment robots are not just limited to the realm of cultural entertainment, however. They also play a significant role in healthcare settings, providing care and comfort to patients through therapeutic assistance and patient engagement. Companies like SenseRobot are leading the way in this field, using cognitive computing, robot vision, and artificial intelligence (AI) to create humanoid robots that can dance, sing, and even serve as speaking, listening companions for patients. The Entertainment Robots Market is driven by advancements in electronics, semiconductors, and microphones, as well as the integration of face and voice recognition technology. From dancing speakers to toy robots, the possibilities for entertainment robots are endless, and the market is poised for continued growth in the years to come.
The global leisure products market, a segment of the larger household durables market, encompasses various categories such as sports equipment, musical instruments, camping gear, recreational vehicles, bicycles, toys, and other consumer games. According to Technavio, the household durables market size is determined by the collective revenue generated by manufacturers of household durables, which includes consumer electronics, home furnishings, homebuilding products, household appliances, housewares and specialties, and leisure products. The expansion of the global leisure products market will be fueled by several key factors, including the surge in health and fitness club memberships. Over the past decade, there has been a steady rise in the number of health and fitness club members, and this trend is expected to continue due to the burgeoning prospects of the industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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