Global Consumer Robotics Market Overview

The Global Consumer Robotics Market size is expected to grow from USD 10.11 billion in 2023 to USD 106.25 billion by 2032, at a CAGR of 29.87% during the forecast period (2024-2032).

Consumer robots and robotic gadgets are designed for everyday use, usually in a household or personal setting. Household robots, vacuum robots, lawn mowing robots, pool cleaning robots, and other robotic devices are among them. In 2016, robot vacuum cleaners accounted for 20% of all vacuum cleaners sold. They've risen to 23% in 2017 and are continuing to rise. Even though most people identify domestic robots with vacuum cleaners and Roombas, most traditional household product businesses have entered the robotics market. Robots used to be science fiction fantasies, but that is no longer the case. With worldwide spending on robots, the robotics market is taking off and will continue to rise. Consumer demand for autonomous and semi-autonomous robotic technology, as well as the expanding use of hand-held computer devices and internet penetration around the world, are all contributing to the global consumer robotics market's rise. Simultaneously, these robots provide humans with a better working environment, allowing them to complete tasks faster and more accurately. The incorporation of artificial intelligence and machine learning in robots has offered endless potential opportunities for the consumer robotics industry in this era of modernization.

Market Dynamics And Factors For Consumer Robotics Market

Drivers:

Growing Demand For The Consumer Robots

What was considered as a revolution at the beginning of 21 century when the first generation of consumer robots like vacuum cleaners and lawnmowers was introduced, is now pretty common technology. The next generation of consumer robots is emerging which is going beyond home care robots typically taking on a specific chore (de Bellis & Johar, 2020) to interactive connected personal assistants or family companions (Lum, 2020). Consumer robots integrate information technology into physical embodiments to make everyday life easier. The recent development of artificial intelligence (AI) in understanding and producing natural language, learning from experience, and even understanding and mimicking human emotions has fueled the rapid growth of robots. Further, the declining prices of robots and the growing demand for homecare due to the increasing elderly population have also propelled consumer robots market growth. In addition, the increasing use of various computing devices like smartwatches, tablets, smartphones, and others fuels the market demand in the global market. Moreover, increasing market demand for machine learning, tactile sensors, machine vision, gesture control, speech and voice recognition, human-robot interaction, artificial intelligence, and many others drives the market in the global market. Additionally, the wide use of sensors and Wi-Fi in consumer robotics also fuels the market growth in these regions.

Restraints:

Though the consumer robotics market is increasing tremendously in the global market some factors restrict its growth. The high cost associated with manufacturing consumer robotics and the high price charged by manufacturers hampers the market growth in the global market. Moreover, a lack of awareness of the availability of consumer robotics in various emerging countries and underdeveloped countries restricts the market growth in the global market.

Opportunities:

Artificial intelligence (AI) technologies, particularly machine learning (ML), are critical in the development of intelligent robots that can predict and react to specific situations based on the interpretation of data collected from a variety of sensors. To take industrial automation and industrial robots to the next level, more advancements in AI technologies such as computer vision, conversational platforms, and context-aware computing are required. Such technological advancements are projected to continue in the next years, with market potential.

Challenges:

The possibility of cyberattacks is one of the most significant obstacles to the widespread use of robots. Robots, particularly those that are connected to the internet, are extremely vulnerable to hacking. Allowing unauthorized access to important applications and systems by leaving them unprotected may result in the loss, theft, destruction, or inappropriate use of sensitive data.

Segmentation Analysis of Consumer Robotics Market

By Type, task robots are anticipated to register the maximum consumer robotics market share over the forecast period.  The need for domestic robots is being driven by rising automation in household equipment, rising labor costs, and rising safety concerns around the world. One of the major factors driving the market is the growth in investments by firms around the world to create domestic robots for a variety of applications. Samsung and LG Electronics are heavily investing in the development and introduction of new robotic goods for the home. Jibo, for example, is developing social robots to integrate into people's daily lives as interactive companions. Startups that provide domestic robot solutions are also getting funding from overseas investors, based on the market potential.

By Connectivity, the Wifi segment is expected to grow at the highest compound annual growth rate as a result of the rising technological adoption resulting in a strong demand for the robots with enhanced speed. Furthermore, the development of smart cities, followed by its feature of easing management, will further attract many customers to the market.

By End-Users, the household robot is anticipated to dominate the consumer robotics market during the forecast period. The demand for household robots is being driven by rising automation in household appliances, rising labor costs, and rising safety concerns around the world. One of the major factors driving the market is the growth in investments by firms around the world to create domestic robots for a variety of applications. Samsung and LG Electronics are heavily investing in the development and introduction of new robotic goods for the home. Jibo, for example, is developing social robots to integrate into people's daily lives as interactive companions. Startups that provide domestic robot solutions are also getting funding from overseas investors, based on the market potential.

Regional Analysis of Consumer Robotics Market

North America region is holding a major share of the consumer robotics market over the forecast period. The expansion of the market is largely fueled by the United States and Canada. The expansion is being driven by the rising use of consumer robots in residential applications across the area. In the United States, there are several consumer robotics firms. iRobot, based in Bedford, Massachusetts, is the most well-known consumer robotics manufacturer in the United States. iRobot has grown significantly in recent years as they have developed and upgraded a variety of consumer robots. The Roomba Robotic Vacuum is the company's most well-known robot.

The Asia Pacific is expected to register a significant market share over the forecast period. In Asia, three countries, China, Japan, and South Korea are at the forefront of consumer robotics research and development. Because those three countries are Asia's leaders in robotics production, there is a wealth of knowledge available from them. The countries of China, Japan, and South Korea were chosen to represent the current state of consumer robotics in Asia.

The market in European countries has been steadily growing and is likely to continue to develop in the future years. Various companies are helping to expand new technologies and products, and this trend is projected to continue during the forecast period. There are robotic vacuums available from European businesses that are known for goods other than robots, similar to iRobot's Roomba. Electrolux, a Swedish manufacturer of household goods, has unveiled its version of a vacuum robot.

Key players in the Consumer Robotics Market

• Blue Frog Robotics (France)
• MAKO Surgical Corporation (US)
• Parrot SA (France)
• Honda Motors Company Ltd. (Japan)
• Neato Robotics (US)
• LG Electronics Inc. (South Korea)
• WowWee Group Limited (Hong Kong)
• Jibo Inc. (US)
• Hasbro Inc. (US)
• Samsung Electronics Co. Ltd. (South Korea)
• 3D Robotics (US)
• Intuitive Surgical Inc. (US)
• Google Inc. (US)
• iRobot Corporation (US) and other major players.

Key Industry Developments In Consumer Robotics Market

• In January 2024, Samsung announced the launch of household robot with the name Ballie. This spherical home robot is aimed at charming skeptical consumers who need a little extra help around the house.
• In December 2023, Amber Technology announced a strategic partnership with Robosen Robotics, the globally acclaimed creator of advanced consumer entertainment and education robots. This partnership will introduce Robosen’s state-of-the-art range of robots to the Australian and New Zealand markets, following the brand’s significant global achievements.