Consumer robot market

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Consumer robot market Research Report By
Forecast 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Global Consumer robot market Forecast To 2023
Global Consumer robot market Forecast To 2023
The global Consumer robot market size can shoot
up to USD 17 billion by 2023, as per MRFR. It can
exhibit 19 CAGR over the forecast period.
Innovation in consumer robots due to
technological breakthroughs in AI is likely to
spur market growth. High adoption rate of
consumer electronic devices such as smartphones,
tablets, smartwatches, and other portables can be
a leading driver in the market. Integration of
sensors, voice and speech recognition, tactile
sensors, machine learning, and others in robots
are other factors which can entice customers in
procurement of robots. But alarming costs of
these devices can impede market growth.
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Global Consumer robot market Forecast To 2023
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Global Consumer robot market Forecast To 2023

• The advances in artificial intelligence (AI) have
  furthered the progress in robots. Consumer robots
  are autonomous devices used for completing daily
  or laborious tasks. They can be used for
  entertainment purposes or for attending to needs
  of clients. The global Consumer robot market
  report by Market Research Future (MRFR)
  encompasses the latest trends and upgrades in
  robotics for the period of 2020 to 2023 (forecast
  period).

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Global Consumer robot market Forecast To 2023
Global Consumer robot market Segmented on the
basis of
The Consumer robot market is segmented by type,
components, verticals, and end-users. By type, it
is segmented into task robots and surveillance.
The task robots are expected to sustain a large
market share till 2023. This can be credited to
the use of these devices for completing
repetitive and laborious tasks. By components, it
is segmented into microcontrollers and
displays. By verticals, it is segmented into
marketing and data visualization. By end-users,
it is segmented into education and healthcare.
The education segment is expected to drive the
market revenue due to the shift away from
traditional learning methods in schools. The
transition to virtual classrooms and the
increased cognitive capability of children can
drive the demand for consumer robots.
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Global Consumer robot market Forecast To 2023
Global Global Consumer robot market -
Geographical Analysis
Geographically, the global Consumer robot market
is segmented into North America, Asia Pacific
(APAC), Europe, and Rest-of-the-World
(RoW). North America is one of the leading
regions due to leading breakthroughs in robotics.
The need for robots for menial tasks such as
cleaning households is expected to boost market
demand. In addition, high expendable income
levels of consumers coupled with the need for
educational toys to enhance the minds of children
are additional growth drivers. The Europe
Consumer robot market is set for an explosive
growth thanks to massive demand for sensors. Huge
demand for robots with the capacity of detecting
explosive devices, product inspection, assembling
products, and space missions can bolster regional
market demand. The APAC region is likely to
exhibit the highest CAGR over the years due to
high potential in China, Japan, and India. China
is one of the biggest revenue generators due to
being a hub for microprocessors and
semiconductors. Research and development of
various computing processes and their subsequent
outsourcing to the region is predicted to be
drive market demand.
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Global Consumer robot market Forecast To 2023
Global Global Consumer robot market -
Competitive Analysis

• Key market players include Intuitive Surgical
  Inc., Neato Robotics, iRobot Corporation, Google
  Inc., 3D Robotics, Jibo, Inc., WowWee Group
  Limited, Dà-Jiang Innovations Science and
  Technology Co., Ltd, Honda Motors Company Ltd.,
  MAKO Surgical Corporation, LG Electronics Inc.,
  Parrot SA, Hasbro, Inc., Blue Frog Robotics, and
  Samsung Electronics Co., Ltd.
• Mergers, acquisitions, and novel product
  developments are major strategies of these
  companies. This is evident by the acquisition of
  Robopolis SAS by iRobotics in 2017.

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