Household Robots Market Size to Grow with a High CAGR- Global Industry Analysis, Key Manufacturers, Trends, Size, and Forecasts 2022-2031

The household robots market is expected to grow at a CAGR of 20.50% over the forecast period.The household robots are also termed as domestic robots, which are the part of autonomous service robots for carrying out mundane works such as floor cleaning, pool cleaning, and lawn mowing, among others, but can also be used for education, entertainment, and elderly assistance. According to the International Federation of Robotic report, 2019, unit sales of household robots are expected to increase by 46% on average per year, with more than 55 million units will be sold in 2022. Also, sales values for the household robot was up by 15 percent to USD 3.7 billion.

– Technological innovations, with respect to cognition, interaction, and manipulation, have made household robotics more appealing. Technology and other component providers have been instrumental in moving the robotics ecosystem forward. For instance, in April 2019, researchers at University of California have developed a robot that uses Artificial Intelligence (AI) to perform intricate human tasks such as helping in folding laundry or making a cup of coffee.
– Increasing penetration of automation in household appliances, rise in labour costs, and increasing safety concerns are driving the demand for the household robot across the world.​
– With the increasing growth of the smart home concept, the robot may play a crucial role in the smart home ecosystem. For instance, in 2019, Temi has partnered with Amazon Alexa to design intelligent, mobile, personal AI-powered robots. The temi home robot combines advanced sensing, Amazon’s Alexa virtual assistant technology, and AI-enabled facial and voice recognition to deliver a mobile smart home hub that promises to take human-machine interaction to a new level.
– The increasing investments by companies across the globe to develop household robots for a wide range of applications is one of the significant factors driving the market. Samsung and LG Electronics are extensively investing in developing and launching of new household robotic products.For instance, Jibo is developing social robots to integrate into the home lives for interactive companion and helper to families. Observing the market potential, startups offering household robot solutions are also attracting fundings from international investors.
– However, the high equipment cost is limiting the adoption rate for the household robots. Further decrease in its ASPs is expected to increase the purchase of these robots.

Key Market Trends

Click Here to Download Sample Report >> https://www.sdki.us/sample-request-84015

Vacuum Cleaning & Mopping Application to Dominate the Market

– Among all the household robots, automated vacuum cleaners and moppers are the most commercialized and developed products by the companies. The companies are continuously investing in developing more compact and integrated Vaccum cleaner and mopping robots to reach narrow places at home. The companies are integrating advanced technologies like voice recognition and laser-based technologies to map the floor structure. For instance, Irobot launched a Roomba i7+ which is capable of acquiring voice commands and intelligent mapping techniques.
– Additionally, with the increasing developments in the machine vision cameras, companies are also using these 2D and 3D machine vision cameras with AI technologies to effectively map and edges of the floor like a staircase and to recognize obstacles such as cables, dustbins, doorsills, and rugs.
– Moreover, to increase the life of cleaning tools like brushes and filter, now the companies are installing the blades inside the chamber to cut the trash into pieces; especially human and pet hairs which causes frequent entanglements in the equipment and reduces cleaning effectiveness.

Asia-Pacific Region is Expected to Witness Fastest Growth

– Asia-Pacific region is expected to witness the fastest growth due to high investments in household robot development and growth in the demand for autonomous smart home devices like robotics cleaners. The region includes countries like China offering low priced toy robots, among other sophisticated household robots. According to Asia Fund Manager, 2019, studies, Ecovacs Robotics is China’s biggest player in household robotics. It has sold 4.14 million products, pushing sales revenue up by 34.7% year-on-year.
– Companies in the region are also looking forward to developing all-purpose household robots for helping with chores and even offering companionship. Toyota has illustrated the inverted age-pyramid in Japan by 2050, where 30% fewer people will be available for care to twice the elderly population in the country today. Also, the company is investing in developing household products. Additionally, a startup from Japan- Preferred Networks has declared to launch the all-purpose household robots to help people in the next five years.
– Moreover, the investors in the region are continuously injecting funds in the startups offering household robots.For instance, in January 2020, Trifo has raised USD 15 million from investors that include Yidu Cloud, Tsinghua AI Fund and Matrix Partners for its robotic vacuum “Lucy” that comes with pair of the camera onboard assisted with 1080p color images depth sensing to provide home surveillance and mapping in light and dark settings.
– In July 2019, iFlyTek raised the investment of USD 407 million from China Asset Management to integrate AI and service robots and working on speech recognition. Such growth in the market is expected to drive the escalation for household robots in the region.

Related Reports:

Household Robots Market Size to Grow with a High CAGR- Global Industry Analysis, Key Manufacturers, Trends, Size, and Forecasts 2022-2031
Automated Mining Equipment Market Size: In-Depth Industry Analysis on Size, Cost Structure and Prominent Key Players Analysis 2022-2031
Indonesia Automation and Control System Market Size Future Scope, Opportunities with Strategic Growth and Top Players 2022-2031
Red Biotechnology Market Size Trends, Share, Size, Growth, Supply and Manufacturers Analysis Research Report 2022-2031
Pigmentation Disorders Treatment Market Size Outlook and Forecasts By Top Manufacturers, Production, Consumption, Trade Statistics, and Growth Analysis 2022-2031
qPCR Reagents Market Size – Top Companies, Business Growth & Investment Opportunities, Share and Forecasts 2022-2031

Leave a Reply

Your email address will not be published. Required fields are marked *