Press Release: April 11, 2020
Robotics is a connection between engineering, science and technology which helps in producing the machines which are known as robots. Consumer Robots are those type of robots which are bought by humans to use them for various purposes including entertainment, assistance in domestic works, education and also as a companion. The technology currently being implemented into robots called as Artificial Intelligence is making robots much smarter and is also improving their capabilities to perform any task.
The factors responsible for driving the growth of global consumer robotics market includes the enhanced accuracy and quality of work along with increased precision as a result of reduced number of mistakes. The increased speed of performing a task and the ability to perform several applications with added repeatability than humans are also some factors boosting the growth of consumer robotics in the market worldwide. The continuous research and development activities and the implementation of advanced technologies in the robots such as Artificial Intelligence is bolstering the growth of global consumer robotics market during the forecast period. The ability of making life effortless and less noisy is also creating demand of consumer robotics. The factors responsible for hindering the growth of global consumer robotics market includes the safety issues, difficulty in building and the high cost.
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North America is expected to dominated the market in 2018 owing to the presence of major key manufacturers in this region. The high per capita income and the faster adoption of advanced technologies are some reasons driving the growth of market in this region. Asia-pacific is expected to grow at a faster growth rate during the forecast period due to the increased adoption of robots in the developing countries including China, Japan, among other countries.
Various notable players in the Global Consumer Robotics market include iRobot Corporation, Neato Robotics, Pai Technology, Pillo Inc., Sphero, Ubtech Robotics Inc., WowWee Group Limited, RealBotix, Gaussian Robotics and Van Robotics Inc. among others.
The global Consumer Robotics market has been segmented based on type, application, connectivity and key geographies. Based on the type, the global consumer robotics market has been segmented into Autonomous and Semi-Autonomous. Based on application, the market has been segmented into Household Robots, Social Robots, Entertainment Robots, Educational Robots and Others. On the basis of connectivity market is segmented into Wifi, Bluetooth and Others and by geography.
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Key questions answered in this research report:
1- At what pace is the Global Consumer Robotics market growing? What will be the growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global consumer robotics market?
4- What are the various application areas and how they are poised to grow?
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