Personal Robots Market Size, Share, Growth and Industry Analysis by Type (Household Work, Entertainment, Elderly and Handicap Assistance, Home Security and Surveillance, And, Other) By Application (Old Man, Child, And, Other) Regional Insights and Forecast to 2031

Updated On: 29 April 2024

PERSONAL ROBOTS MARKET REPORT OVERVIEW

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The global personal robots market size was USD 24650 million in 2022 and will touch USD 56990 million by 2028, exhibiting a CAGR of 15.0% during the forecast period.

In futuristic innovation, personal robots have made the transition from science fiction to everyday reality. Built with sophisticated artificial intelligence, these smart devices offer a wide range of users—with the ability to learn and adapt from household tasks to personal partnerships, offering personal support, making it more efficient and convenient in everyday tasks. Their strategy prioritizes user interaction, making them not only productive but also engaging partners.

COVID-19 impact: Growing Knowledge About Importance of Contactless Environment During Pandemic Increased Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic increased the adoption and innovation of personal robots, highlighting the importance of contactless environments. As the world swallowed up social distancing and sanitation, personal robots found new roles in disinfection zones, delivering goods and companionship while isolated. This increased demand has led to advanced robotics technology. The pandemic highlighted the potential of personal robots in healthcare from remote to direct care, demonstrating their critical role in pandemic response and preparedness Finally, COVID-19 changed and forced perceptions of personal robots strengthen their position as critical tools in facing and mitigating public health challenges

LATEST TRENDS

"Robots with Advanced sensory perceptions and Emotional Intelligence to Accelerate Market Growth"

The personal robotic scene is seeing a surge of innovation driven by artificial intelligence and robots. These developments include advanced sensory perception, which allows robots to navigate and interact with environments with unprecedented precision. Emotional intelligence in robots has also made incredible strides, enabling them to interact with humans in more nuanced and meaningful ways.

Furthermore, advances in energy efficiency and miniaturization have made robots more portable and durable, expanding utility and appeal Innovators are using robotics and virtual reality the real is merging, creating immersive experiences that blur the distinction between digital and physical realms. These innovations promise a future in which personal robots become indispensable, versatile companions in everyday life. The above-mentioned factors are driving the personal robots market growth.

PERSONAL ROBOTS MARKET SEGMENTATION

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By Type

Based on types the global market is segmented into household work, entertainment, elderly and handicap assistance, home security and surveillance, and, other

• Household work: Robots make tasks like cleaning, cooking and gardening easier, saving time and effort. Their automation capabilities simplify operations, making home management more efficient.

• entertainment: Entertainment robots engage users with games, music and spoken word interactions, fostering fun and creativity. They provide companionship and entertainment while maximizing leisure time for individuals and families.

• Elderly and handicap assistance: These robots help with mobility, medication reminders and socialization, and promote independence and well-being. Their flexible programs meet specific needs and provide practical support for the elderly and disabled.

• Home Security and surveillance: Security robots monitor, detect intruders, and send alerts to increase safety and security. They provide real-time monitoring and remote sensing capabilities, strengthening home security systems.

• others: Robots in niches serve a variety of needs, from educational support to personal fitness training. Innovations are made in industries that demonstrate the versatility and adaptability of robotic technology.

By Application

Based on application the global market is segmented into old man, child, and, other

• old man: For seniors, robots provide daily tasks, medication reminders and companionship, improving their quality of life.

• Child: For children, robots provide educational content, interactive games, and safety features, providing learning and fun in a safe environment.

• other: Robots cater to specialized markets such as hobbyists, fitness enthusiasts and personal support, offering specialized functions tailored to specialized needs.

DRIVING FACTORS

"Advances In Artificial Intelligence and Machine Learning to Amplify Market Growth"

Several key factors have led to the development of new personal robots. Advances in artificial intelligence and machine learning enable robots to perform tasks with greater autonomy and precision, making them more practical and adaptable to human needs. Furthermore, communication and the increased emphasis on hybrid smart homes means that robots can seamlessly fit into our digital ecosystem, increasing their productivity.

Furthermore, trends in society, such as the aging population and the increasing importance of personal care, are driving the demand for robots that can assist in health and daily life, indicating a major shift in how we navigate personal support and involvement. All of the above-mentioned factors are driving the personal robots market share.

Increasing Demand for Automation Across Industries, Spurring R&D In Robotics Technology of Markets to Propel Market Growth

Another factor driving the rise of personal robots is the increasing demand for automation across industries, spurring R&D in robotics technology and accelerating the adoption of robots for human-intensive tasks have few contacts, such as delivery and disinfection.

Besides, the entertainment and gaming sectors continue to drive innovation, fueling the creation of interactive and engaging robots for several activities. Furthermore, public and private investments trends in robotics research and industry contribute to the rapid development of personal robots where they play an important role in everyday life.

RESTRAINING FACTOR

"High Costs Associated with Research, Development and Manufacturing to Decrease Market Growth"

Despite this potential, personal robots face many constraints. High costs associated with research, development and manufacturing limit their affordability and widespread acceptance, especially for low-income individuals and families. Concerns about privacy and security though significant obstacles arise, as the collection and sharing of personal information by robots raises ethical and legal challenges.

 Public acceptance and trust in robots remain a challenge. Some individuals express fear or resistance to integrating robots into daily life. Besides, technical limitations such as battery life and reliability hinder the performance and efficiency of individual robots, requiring further developments in technology and design.

PERSONAL ROBOTS MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate Market Share in Upcoming Years Due to Thriving Ecosystem of Technology Companies"

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa

Asia-Pacific is emerging as a leading region in the development and adoption of personal robots. With countries such as Japan and South Korea leading the way in robotics research and innovation, the region offers a rich ecosystem of technology companies, universities and government programs dedicated to fostering robotics encouraged to

In addition to the widespread acceptance and integration of robots in various applications, rapid urbanization and aging populations in many Asian countries are driving demand for personal robots to assist with household chores, health and socializing, and further strengthening the agency’s leadership in this area.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Sony Corporation (Japan) 
• Honda Motor Company Ltd (Japan) 
• Ecovacs Robotics Inc. (China) 
• iRobot Corporation (U.S.) 
• Neato Robotics Inc. (Vorwerk Corporation) (U.S.) 
• Samsung Group (South Korea) 
• Gecko Systems International Corporation (U.S.) 
• Hanool-Robotics Corp. (South Korea) 
• Segway Inc. (Ninebot Company) (China) 
• F&P Robotics AG (Switzerland)

INDUSTRIAL DEVELOPMENT

May 2020: Fujitsu has introduced its new robot "enon" and its 3D vision system. With left and right arms and grippers that offer five degrees of freedom (DOF), a pan-tilt mechanism and a wheel mechanism that holds six cameras, the robot is very flexible and provides services in a variety of environments such as the office and the public. The vision system uses a dedicated FPGA processor to accelerate the graphical processing required for autonomous navigation. Its power consumption is only 10 W, which is one-seventh that of a typical Pentium®4 personal computer, while the processing speed of a synchronous network will be faster triple such system This paper also introduces our newly developed Stereovision ASIC in order to improve the performance of our vision system.

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.