The Household Robots by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Household Robots, The household robots market size has grown rapidly in recent years. It will grow from $8.1 billion in 2023 to $9.7 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to consumer desire for convenience, smart home integration, increased consumer awareness, affordability improvements, environmental sustainability, safety improvements, government initiatives.
The household robots market size is expected to see exponential growth in the next few years. It will grow to $20.35 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to advancements in human-robot interaction, growing adoption of voice assistants, expansion of robotic lawn care, advancements in object recognition, continued decline in component costs, expanding applications in hospitality.. Major trends in the forecast period include increased adoption of robotic vacuum cleaners, ai and machine learning advancements, multi-functional robots, personal assistant robots, cloud connectivity and data analytics, energy-efficient and eco-friendly designs.
High demand for robots are expected to boost the growth of the household robots market going forward. Robots refer to any autonomously run system that substitutes human effort. Most people prefer to use robots to assist with household chores like cleaning and ironing. Thus, growing robots demand is expected to boost the household robot market. For instance, in October 2022, according to a report released by the International Federation of Robotics, global robot installations are expected to rebound strongly and grow by 13% to 435,000 units in 2021. Additionally, America’s sales increased by 27% to 44,300 units sold. Asia and Australia saw the most growth in demand, with installations climbing 33% to 354,500 units. Furthermore, according to early figures from the International Federation of Robotics (IFR) for 2021, Europe experienced double-digit growth of 15%, with 78,000 units. Therefore, demand for robots will drive the growth of the household robots market.
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The household robots market covered in this report is segmented –
1) Household Robots Market By Type: Domestic, Entertainment and Leisure
2) Household Robots Market By Offering: Products, Services
3) Household Robots Market By Application: Vaccuming, Lawn Mowing, Pool Cleaning, Companionship, Elderly Assistance and Handicap Assistance, Robot Toys and Hobby Systems, Other Applications
Top Major Players
Technological advancements have emerged as the key trend gaining popularity in the household robot market. Major companies operating in the household robot market are developing innovative technologies to strengthen their position in the market. For instance, in March 2022, Ecovacs Robotics, a China-based top auto cleaning robots designer, launched DEEBOT X1 OMNI, an all-in-one vacuum and mopping robot, based on TrueMapping technology. Some of the unique features of the DEEBOT X1 Omni are the All-in-One OMNI Station, and the potent AIVI 3D. The DEEBOT X1 Omni is specifically designed to perform all-around cleaning to improve daily life.
The household robots market report table of contents includes:
1. Executive Summary
2. Household Robots Market Characteristics\
3. Household Robots Market Trends And Strategies
4. Household Robots Market – Macro Economic Scenario
5. Global Household Robots Market Size and Growth
….
31. Global Household Robots Market Competitive Benchmarking
32. Global Household Robots Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Household Robots Market
34. Household Robots Market Future Outlook and Potential Analysis
35. Appendix
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