The study on the global household robot market in 2020 by Market Research Future has been conducted with the bird’s eye view of the current proceeding within the household robot industry. The report also considers the impact of the novel COVID-19 pandemic on the household robot market. It offers a clear assessment of the projected market fluctuations during the forecast period (2017-2023) at a pace of 15.5% CAGR while anticipating a valuation of USD 8.5 Billion in the same years.
Top Impacting Factors
Household robots find its usefulness in diversified tasks. For instance, robots are widely used for vacuum cleaning. These robots consist of an intelligent programming vacuum floor cleaning system which allows the machine to clean floor autonomously without the intervention of human. The robot vacuum cleaner is convenient to use compared to a conventional vacuum cleaner due to its compactness in size and autonomy. This factor has been considered as one of the essential ones leading the market to a great extent.
The household robot market is anticipated to observe robust growth in subsequent years as these have stood up to be reliable and require less maintenance. Owing to the rise in penetration of robots in household applications, a rise in technological advancements, and a surge in cost for labor service, a bright outlook for household robots can be seen in the approaching years.
Top Industry Players
Samsung Electronics Co. Ltd (South Korea), iRobot (US), Neato (US), LG Electronics Inc (South Korea), Ecovacs (China), Dyson (UK), Alfred Kärcher (Germany), Lego (Denmark), iLife Innovation (China), Robomow (Israel) and Husqvarna (Sweden) have been listed in MRFR’s top industry players contributing to the market’s share.
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Segmentation of Market
The segmentation of the global household robot market has been done in the following ways:
· In terms of component: The market has included products and services. The product segment by size as well as growth, products encapsulates all versions of domestic robots.
· In terms of type segment: The market has included domestic and entertainment. In the domestic version, domestic robots find escalating utility for performing menial chores such as lawn-mowing, vacuuming, pool cleaning, and window cleaning.
· In terms of the application segment: The market has included elderly assistance, housecleaning lawn mowing, toys & hobby systems, companionship, laundry robots. The lawn mowing robots are sophisticated models that have reduced noise emission.
Regional Front
The regional market in North America is a very large market with a very high growth forecast for housecleaning robots. The North American domestic robotics market is supported by a robust robotics industry and high-end robotic technology.
While in Europe market, a rising geriatric population is fueling the demand for elderly assistance robots whereas, younger populace has a demand for companionship robots and robotic toys.
The market in Asia-Pacific region has gained maximum growth potential. Japan is the world leader in robotics manufacture and innovation with an escalating demand for state-of-the-art elderly assistance and companionship robots. China and South Korea have established chip manufacturing and machining industries that are required to create robots, further aiding in the expansion of this market by cutting production costs.
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TABLE OF CONTENTS:
1. Market Introduction
2. Research Methodology
3. Market Dynamics
4. Executive Summary
5. Market Factor Analysis
6. Household Robot Market, By Segments
7. Competitive Analysis
Continued…
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