Consumer Robotics Market by Application and Geography - Forecast and Analysis 2022-2026
- Published: Jan 2022
- Pages: 120
- SKU: IRTNTR72117
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The consumer robotics market share is expected to increase by USD 4.70 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.19%.
This consumer robotics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers consumer robotics market segmentation by application (domestic tasks, education, security and surveillance, and others) and geography (APAC, Europe, North America, South America, and MEA). The consumer robotics market report also offers information on several market vendors, including Alphabet Inc., Amazon.com Inc., Ecovacs Robotics Inc., Gaussian Robotics Pte Ltd., Honda Motor Co. Ltd., Irobot Corp., Neato Robotics Inc., Parrot Drone SAS, Ubtech Robotics Inc., and WowWee Group Ltd. among others.
What will the Consumer Robotics Market Size be During the Forecast Period?
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Consumer Robotics Market: Key Drivers, Trends, and Challenges
The growing demand for robotic automation processes is notably driving the consumer robotics market growth, although factors such as the high cost associated with robotic systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the consumer robotics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Consumer Robotics Market Driver
The growing demand for robotic automation processes is one of the key drivers supporting the consumer robotics market growth. Robotic process automation uses intelligent software to conduct high-volume, repetitive processes that take a long time for humans to complete and are frequently monotonous to perform. Furthermore, as a result of its ability to perform various tasks such as account opening and closing, completing quotation and proposal requests, IT system testing and monitoring, and handling billing and customer service queries. Due to this, robotic process automation is becoming increasingly popular across a variety of businesses verticals. Thus, the rising adoption of robotics in diverse application fields will drive market growth during the forecast period.
Key Consumer Robotics Market Trend
The government support for robotics is another factor supporting the consumer robotics market growth. . The robotics programs in the most advanced countries appear to have a completely different strategic objective. For instance, the China Robot Industry Development Plan lays forth the country's objectives for 2020, including creating three to five globally competitive robot manufacturers and eight to ten industrial clusters. The country's 45% domestic market share is for high-end robots and raising its robot density to 100 robots per 10,000 workers. The Chinese government invested $577 million to develop intelligent robots in 2019. On the other hand, the Abenomics Growth Strategy's primary policy is Japan's New Robot Strategy. The budget for robot-related initiatives in 2019 was $351 million to make Japan the world's robot innovation hub. Such government support for robotics will drive market growth during the forecast period.
Key Consumer Robotics Market Challenge
The high cost associated with robotic systems is hindering the consumer robotics market growth. The use of advanced software and sensors to process images and make independent decisions increases the cost for manufacturers. Also, vendors continuously invest in R&D to integrate advanced technologies in service robotics. Owing to this, several new and advanced models of service robotics are expected to be launched in the market during the forecast period. This is expected to increase the cost of robots further. Such an increase in the cost of robots is expected to hamper their adoption among middle-class consumers, especially in India, countries from Africa, and other developing countries.
This consumer robotics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the consumer robotics market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the consumer robotics market during the forecast period.
Who are the Major Consumer Robotics Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Alphabet Inc.
- Amazon.com Inc.
- Ecovacs Robotics Inc.
- Gaussian Robotics Pte Ltd.
- Honda Motor Co. Ltd.
- Irobot Corp.
- Neato Robotics Inc.
- Parrot Drone SAS
- Ubtech Robotics Inc.
- WowWee Group Ltd.
This statistical study of the consumer robotics market encompasses successful business strategies deployed by the key vendors. The consumer robotics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Alphabet Inc. - The company offers consumer robotics under the brand name of Everyday Robots
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The consumer robotics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Consumer Robotics Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the consumer robotics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the industrial machinery market includes the following core components:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Aftermarket and service
- Industry innovations
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Consumer Robotics Market?
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49% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for the consumer robotics market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The aging population will facilitate the consumer robotics market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic positively impacted the growth of the consumer robotics market in APAC in 2020. To limit the spread of the disease, several governments and individual housing units in the region opted for consumer robotics to assist them in daily tasks and provide care. However, the increasing vaccination drives in this region, the development in the healthcare industry, and the increasing installation of robots in retail and public places for the assistance and safety of individuals are expected to increase the demand for service robots. This will further drive the demand for consumer robotics during the forecast period in the region.
What are the Revenue-generating Application Segments in the Consumer Robotics Market?
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The consumer robotics market share growth by the domestic tasks segment will be significant during the forecast period. Consumer robotics is being used for various domesticated tasks such as pool cleaning, lawn mowing, house cleaning, and other such activities. They are replacing traditional robots, which include vacuum cleaners. They are now being integrated with smart home features and are connected by using Internet of Things (IoT) technology, enabling users to remotely control and monitor the robot's activity. Hence, the demand for robotics for domestic applications will grow during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the consumer robotics market size and actionable market insights on post COVID-19 impact on each segment.
Consumer Robotics Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 12.19%
Market growth 2022-2026
$ 4.70 billion
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 49%
Key consumer countries
China, US, Japan, Germany, and South Korea (Republic of Korea)
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Alphabet Inc., Amazon.com Inc., Ecovacs Robotics Inc., Gaussian Robotics Pte Ltd., Honda Motor Co. Ltd., Irobot Corp., Neato Robotics Inc., Parrot Drone SAS, Ubtech Robotics Inc., and WowWee Group Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Consumer Robotics Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive consumer robotics market growth during the next five years
- Precise estimation of the consumer robotics market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the consumer robotics industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of consumer robotics market vendors
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1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market characteristics
2.2 Value chain analysis
Exhibit 10: Value chain analysis: Industrial machinery
2.2.2 Inbound logistics
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Aftermarket and service
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by Application
5.1 Market segments
The segments covered in this chapter are:
- Domestic tasks
- Security and surveillance
Exhibit 22: Application - Market share 2021-2026 (%)
5.2 Comparison by Application
Exhibit 23: Comparison by Application
5.3 Domestic tasks - Market size and forecast 2021-2026
Exhibit 24: Domestic tasks - Market size and forecast 2021-2026 ($ million)
Exhibit 25: Domestic tasks - Year-over-year growth 2021-2026 (%)
5.4 Education - Market size and forecast 2021-2026
Exhibit 26: Education - Market size and forecast 2021-2026 ($ million)
Exhibit 27: Education - Year-over-year growth 2021-2026 (%)
5.5 Security and surveillance - Market size and forecast 2021-2026
Exhibit 28: Security and surveillance - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Security and surveillance - Year-over-year growth 2021-2026 (%)
5.6 Others - Market size and forecast 2021-2026
Exhibit 30: Others - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Others - Year-over-year growth 2021-2026 (%)
5.7 Market opportunity by Application
Exhibit 32: Market opportunity by Application
6. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 33: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
The regions covered in the report are:
- North America
- South America
Exhibit 34: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 35: Geographic comparison
7.3 APAC - Market size and forecast 2021-2026
Exhibit 36: APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 37: APAC - Year-over-year growth 2021-2026 (%)
7.4 Europe - Market size and forecast 2021-2026
Exhibit 38: Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 39: Europe - Year-over-year growth 2021-2026 (%)
7.5 North America - Market size and forecast 2021-2026
Exhibit 40: North America - Market size and forecast 2021-2026 ($ million)
Exhibit 41: North America - Year-over-year growth 2021-2026 (%)
7.6 South America - Market size and forecast 2021-2026
Exhibit 42: South America - Market size and forecast 2021-2026 ($ million)
Exhibit 43: South America - Year-over-year growth 2021-2026 (%)
7.7 MEA - Market size and forecast 2021-2026
Exhibit 44: MEA - Market size and forecast 2021-2026 ($ million)
Exhibit 45: MEA - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 46: Key leading countries
7.9 Market opportunity by geography
Exhibit 47: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Growing demand for robotic automation processes
8.1.2 Increasing adoption of robotics in diverse application fields
8.1.3 Increasing use of IoT in robots for cost-effective predictive maintenance
8.2 Market challenges
8.2.1 High cost associated with robotic systems
8.2.2 Lack of skilled technicians
8.2.3 Stringent regulations and safety concerns related to robotics
Exhibit 48: Impact of drivers and challenges
8.3 Market trends
8.3.1 Government support for robotics
8.3.2 Strategic collaboration, partnership, and merger and acquisition
8.3.3 Expansion of new plants, offices, and locations
9. Vendor Landscape
Exhibit 49: Vendor landscape
9.2 Landscape disruption
Exhibit 50: Landscape disruption
Exhibit 51: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 52: Vendors covered
10.2 Market positioning of vendors
Exhibit 53: Market positioning of vendors
10.3 Alphabet Inc.
Exhibit 54: Alphabet Inc. - Overview
Exhibit 55: Alphabet Inc. - Business segments
Exhibit 56: Alphabet Inc. - Key offerings
Exhibit 57: Alphabet Inc. - Segment focus
10.4 Amazon.com Inc.
Exhibit 58: Amazon.com Inc. - Overview
Exhibit 59: Amazon.com Inc. - Business segments
Exhibit 60: Amazon.com Inc. - Key news
Exhibit 61: Amazon.com Inc. - Key offerings
Exhibit 62: Amazon.com Inc. - Segment focus
10.5 Ecovacs Robotics Inc.
Exhibit 63: Ecovacs Robotics Inc. - Overview
Exhibit 64: Ecovacs Robotics Inc. - Product and service
Exhibit 65: Ecovacs Robotics Inc. - Key offerings
10.6 Gaussian Robotics Pte Ltd.
Exhibit 66: Gaussian Robotics Pte Ltd. - Overview
Exhibit 67: Gaussian Robotics Pte Ltd. - Product and service
Exhibit 68: Gaussian Robotics Pte Ltd. - Key news
Exhibit 69: Gaussian Robotics Pte Ltd. - Key offerings
10.7 Honda Motor Co. Ltd.
Exhibit 70: Honda Motor Co. Ltd. - Overview
Exhibit 71: Honda Motor Co. Ltd. - Business segments
Exhibit 72: Honda Motor Co. Ltd. - Key offerings
Exhibit 73: Honda Motor Co. Ltd. - Segment focus
10.8 Irobot Corp.
Exhibit 74: Irobot Corp. - Overview
Exhibit 75: Irobot Corp. - Product and service
Exhibit 76: Irobot Corp. - Key offerings
10.9 Neato Robotics Inc.
Exhibit 77: Neato Robotics Inc. - Overview
Exhibit 78: Neato Robotics Inc. - Product and service
Exhibit 79: Neato Robotics Inc. - Key offerings
10.10 Parrot Drone SAS
Exhibit 80: Parrot Drone SAS - Overview
Exhibit 81: Parrot Drone SAS - Business segments
Exhibit 82: Parrot Drone SAS - Key offerings
10.11 Ubtech Robotics Inc.
Exhibit 83: Ubtech Robotics Inc. - Overview
Exhibit 84: Ubtech Robotics Inc. - Product and service
Exhibit 85: Ubtech Robotics Inc. - Key offerings
10.12 WowWee Group Ltd.
Exhibit 86: WowWee Group Ltd. - Overview
Exhibit 87: WowWee Group Ltd. - Product and service
Exhibit 88: WowWee Group Ltd. - Key offerings
11.1 Scope of the report
11.1.1 Market definition
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 89: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 90: Research Methodology
Exhibit 91: Validation techniques employed for market sizing
Exhibit 92: Information sources
11.4 List of abbreviations
Exhibit 93: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- South Korea (Republic of Korea)
- Growing demand for robotic automation processes
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