Household Robot Market
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Regional Analysis
- North America: The epicenter of the global robotics market, North America maintains a commanding lead due to its well-established robotics industry and excellent R&D fueled by corporations, governments, and top educational institutions. The profitability and diverse applicability of automation are well understood in the context of industrial processes.
- Ease of Business: Very Good
- Legislative Support: Very Good
- Level of Competition: High
- Investment potential: High
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US: According to the Economic Times, the US market for domestic robots is expected to quadruple from 2018 to touch an expected USD 4 billion by 2025. The US is one of the largest markets for household robots and, with the increasing demand for efficient utilization of man-hours per individual, the market for household robots is ever expanding. The presence of large corporations such as iRobot, Neato, and John Deere focused on making robots easier to manufacture and lowering costs is helping drive market growth .
- Canada: More than a quarter of Canada’s population is expected to be above the age of 65 by 2051. This has fueled research by the Canadian government on elder care robots. The presence of well-established research infrastructure in Canada offers investment opportunities in the development of a robust robot manufacturing industry.
- Europe: Europe is expected to have a very large geriatric population as virtually all European nations have sub-replacement fertility. Robotics was initially the answer to Europe’s small manpower pool for a robust manufacturing industry. The focus has now shifted to the care of a fast-aging population, companionship for lonely individuals, and a need to delegate domestic manpower-heavy chores to increase available man-hours. Europe’s excellent inter-disciplinary research, integrated with industry, provides lucrative investment opportunities.
- Ease of business: Good
- Legislative support: Excellent
- Level of competition: Good
- Investment potential: High
- Germany: A leader in the European robotics market, Germany has a very high ratio of 309 industrial robots per 10,000 employees. Germany seeks to utilize its high robot manufacturing potential to cater to the ever-increasing demand for quality household robots.
- UK: The growing demand for household robots has led to an increase in imports.
- France: The growth of the French household robot market is expected to steadily increase with a correlating decrease in costs. France imports most of its household robots and is invested in the research, development, and manufacture of state-of-the-art companion robots, the demand for which is growing worldwide, especially in the UK and Japan. Today, France is poised to be a leader in the manufacture of companion robots in Europe.
- Asia-Pacific: The market for household robots in Asia-Pacific is expected to register exceptional growth with the per capita income increases along with a need to free up man-hours consumed by domestic chores. Furthermore, Asia-Pacific has the largest number of geriatric people in the world and a very high number of self-isolated individuals who seek automated companionship, which is directly fueling the growth of this market. Asia-Pacific is a well-established and cost-efficient manufacturing hub with Japan pioneering robotics research.
- Ease of Business: Average
- Legislative support: Good
- Level of Competition: High
- Investment Potential: High
- Japan: The world leader in robotics innovation and the integration of robots in daily life, Japan has one of the world’s most developed robotics industries in terms of research, quality, and manufacturing. Service and companion robots are the dominant market segments in the country. Despite the large robotics industry, the country still needs to import 60% of these robots to satiate demand.
- China: China is seeing a growing demand for household robots, especially floor cleaning and window cleaning robots. China offers low-cost manufacturing; this, coupled with government initiatives geared toward building a self-sustaining robotics industry, makes China a very lucrative market.
- South Korea: Samsung Electronics Co Ltd is one of the most well-established robot manufacturers in the world today, though the company caters mostly to the industrial robotics market. It has recently started investing heavily in household robots and is already giving stiff competition to the US- and Japan-based household robot manufacturers.
- India: With a very small share of the household robot market, the market in India is expected to register high growth with a reduction in the costs of household robots and an increase in spending capacity of the average Indian. The country offers low-cost manufacturing with the potential for establishing excellent research infrastructure for domestic robots. This market is in the introductory phase in India and has tremendous investment potential.
- Rest of the World: The small size of the regional market can be attributed to limited manufacturing infrastructure and underdeveloped economies. Currently, the demand for household robots is limited in the region.
- Ease of business: Low
- Legislative support: Low
- Level of Competition: Low
- Investment potential: Average
a. Israel: The only country in the region with an active household robot industry, manufacturers in Israel are currently focused on simple household robots catering primarily to lawn maintenance and floor cleaning. However, the market is poised to grow with the growth of the robotics industry in the country.
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Household Robot Market SizeIncreasing interest in the development of robotic technology globally and surged cost efficacy in the making of household robots primarily drive the household robot market.
Giant players like LG Electronics Inc., Samsung Electronics Co Ltd., Husqvarna employ their technical know-how in making industrial robots to manufacture cost-effective and efficient household robots, which is propelling the market growth.
Robots with progressive AI are gaining popularity increasingly as companions and pets.
The progressive heuristic learning abilities of entertainment robots adds worth, accelerating demand.
This competitive and large market is capitalizing on the expansion of related markets such as semiconductors, AI, and electronics, to automate domestic applications.
Furthermore, social withdrawal is turning into an increasingly common occurrence with a large number of population residing in developed economies leading virtually secluded lives.The problem is critical enough for the UK to encompass loneliness in the remit of the Minister for Sport and Civil Society and for the government of Japan to identify it as a medical incidence called hikikomori.
Market AnalysisMarket Research Future (MRFR) estimates the Household Robot Market to surpass USD 8.5 billion at a CAGR of 15.5% from 2020 to 2027 (forecast period).A household robot is a type of service robot that aids humans by performing an activity or a job.
It can easily connect to WI-FI networks and performs activities with a high degree of autonomy.
The global household robot market is predicted to expand dramatically in the future years.The global household robot market is being pushed by rising demand for autonomous robots, more awareness of robotics applications, greater safety concerns, and rapid technological improvement.
Changes in consumer behavior as a result of global economic turbulence are expected to have an impact on the household robot industry over the forecast timeframe.Governments all around the world have imposed lockdowns, affecting the majority of industrial players and forced people to stay at home, restricting physical contact among people.
The constraints imposed on production activities in order to adhere to social distancing standards are anticipated to hinder the growth of the electronics sector, limiting the global household robot market's growth.The COVID-19 crisis has caused widespread disruption in the electronics industry.
Governments all across the world have imposed travel bans.
Household Robot Market 2021-2027New Study Reports " Global Household Robot Market 2021, Trends, Market Share, Industry Size, Growth, Opportunities Forecasts 2027" has been Added on MarketResearchFuture.Summary:Starting with the overview of the Household Robot market, it presents an overall analysis of the latest trends that are prevalent in the industry.
The company profiling and market price analysis in relation to the value chain features is also covered in the report.
A multitude of potential growth factors, risks, opportunities, constraints and the threat by new entrants is also mentioned in the report.
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.Other factors influencing the household robot market are the rapid urbanization, industrialization, awareness, and product development among consumers.
Besides, a considerable rise in demand for autonomous robots, upsurge in recognition of robotics applications, the surge in concern for safety, and continuous swell in technological advancements drive the household robot's market growth during the forecast period.Despite these factors, the issue of high initial investments is one of the factors hampering the growth of the household robot market.
The rise in R investments focuses on improving the endurance capability of robots is ready to form profitable opportunities for the growth of the household robot market in the future timeframe.Complete Report Details@ https://www.marketresearchfuture.com/reports/household-robot-market-8196Key PlayersThe report has profiled some of the Important players prevalent in the global like – 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) and more.This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Household Robot.Segmentation of MarketThe 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 growth sectors of the Household Robot Market are identified with precision for a better growth perspective.Increasing interest in the development of robotic technology globally and surged cost efficacy in the making of household robots primarily drive the household robot market.
Giant players like LG Electronics Inc., Samsung Electronics Co Ltd., Husqvarna employ their technical know-how in making industrial robots to manufacture cost-effective and efficient household robots, which is propelling the market growth.
The application of robots encompasses services such as maintenance, installation, reprogramming, and repair.
Robots with progressive AI are gaining popularity increasingly as companions and pets.The progressive heuristic learning abilities of entertainment robots adds worth, accelerating demand.
This competitive and large market is capitalizing on the expansion of related markets such as semiconductors, AI, and electronics, to automate domestic applications.
Furthermore, social withdrawal is turning into an increasingly common occurrence with a large number of population residing in developed economies leading virtually secluded lives.The problem is critical enough for the UK to encompass loneliness in the remit of the Minister for Sport and Civil Society and for the government of Japan to identify it as a medical incidence called hikikomori.
