The global consumer robotics market is poised for significant growth in the coming years, according to a new report. The market, which was estimated at USD 9,225.96 million in 2022, is projected to reach USD 39,701.16 million by 2028, with a compound annual growth rate (CAGR) of 27.54% during the forecast period.
Consumer robotics refers to the use of robots in everyday life for various purposes such as cleaning, lawn-mowing, and companionship. The market is driven by technological advancements, increasing demand for automation, and the need for convenience in household and commercial settings.
The report provides a comprehensive view of the market’s competitive environment, growth prospects, and upcoming opportunities. It analyzes the strategies adopted by major global players such as Dyson, iRobot Corporation, SoftBank Group, SenseTime, Intuitive Surgical Inc., Honda Motor Co. Ltd., Google Inc., and 3D Robotics Inc.
The market is segmented by application into household and commercial sectors. Cleaning robots, lawn-mowing robots, and companion robots are the key types of consumer robotics analyzed in the report. The research also covers revenue analysis based on striking applications in the semiconductor and electronics industry.
One of the highlights of the report is the consideration of the impact of the COVID-19 pandemic and the Russia-Ukraine war on the consumer robotics market. The disruptions in the global supply chain and fluctuations in raw material prices have been taken into account. The report provides a detailed analysis of these impacts on the industry.
The report also includes an analysis of the leading key players in the market. In addition to the global giants, regional small and medium-sized companies that play key roles and have potential for growth are also considered. The insights gained from this analysis can help businesses make informed decisions and gain a competitive edge.
Overall, the global consumer robotics market is expected to witness substantial growth in the coming years. With the increasing adoption of automation and the need for convenience, consumer robotics will play a significant role in transforming everyday life.
Sources:
– Industry Research, ‘Global Consumer Robotics Market Report 2023’
– Data provided in source article