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The robotic pet dogs market is estimated to grow by USD 608.53 million with a CAGR of 12.78% from 2023 to 2028. The market is experiencing significant growth due to various factors. Primarily, the elderly population finds robotic dogs to be highly efficient in providing companionship and entertainment. Robotic pet dogs offer numerous benefits, including the ability to provide unconditional love and companionship, reduce feelings of loneliness, and promote mental and emotional well-being. Moreover, the integration of advanced Artificial Intelligence (AI) technology in robotic pet dogs enhances their capabilities, enabling them to learn and respond to commands, recognize voices, and even exhibit lifelike behaviors. These factors collectively contribute to the increasing demand for robotic pet dogs in the market.
Market Forecast 2024-2028
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The market is witnessing significant growth, fueled by the demand for lifelike robotic companions like Hasbro's Fur Real Friends and Biscuit My Lovin Pup. As the pet industry continues to expand, consumers are increasingly interested in pet companion robots that offer interactive experiences. This trend is supported by advancements in cutting-edge robotics and artificial intelligence, making these robots more lifelike and appealing. Sales analysis in this sector reflects a competitive scenario, with companies vying for market share and looking to capitalize on pet ownership trends and spending on pets. The market plays a crucial role in ensuring the security of these cutting-edge gadgets, especially in areas such as feeding, cleaning, and vet applications, where data security and privacy are paramount. The market, a segment within the consumer products sector, is poised for significant growth according to the latest APPA report, with the pet feeding sub-segment presenting an absolute dollar opportunity in the market. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Entertainment is required to divert people's minds from their busy schedules and to provide a sense of happiness, enjoyment, and relaxation. They are designed in such a manner that they provide pleasure to humans, specifically kids and the elderly. The unemployed, elderly population could get easily bored at home or in healthcare facilities.
Moreover, for kids, robotic pet dogs could be used as a great learning tool, as kids, from a very young age, are fascinated by technology and artificial intelligence. Robot toys are designed for kids so that they can be a source of comfort, and advanced technologies can help kids in learning. This will drive the growth of the market during the forecast period.
Skin allergies, arthritis, brain aging, digestive disorders, and obesity are some of the health problems that pets suffer regularly. In addition, pet thefts are also rising across the globe, which has made pet owners more cautious, thereby raising the need to monitor their pets regularly. Pet owners have been increasingly spending on pet care, including food, healthcare, and insurance, which causes a major economic burden.
Moreover, the robotic pet dogs require less maintenance and are free from diseases as they are artificial. Thus, the health problems in natural pets are expected to drive the growth of the global robotic pet dog market during the forecast period.
Some of the advanced and featured robotic pet dogs are priced very high, thereby making it difficult for the middle-income group to spend. The high price of such artificial dogs can be attributed to the infusion of advanced technology in its production. For instance, Sony Aibo, one of the leading robot dogs, costs USD 2,899. Aibo is encrypted with three touch sensors, two cameras, a time-of-flight (ToF) sensor for detecting distance, four microphones, and a motion detector.
Additionally, ultra-compact 1- and 2-axis actuators allow the dog to move along 22 axes. Besides, the built-in sensors help dogs detect and analyze sounds and images. Hence, these advanced robotic pet dogs come at a high price, which is anticipated to impede the market growth in developing regions during the forecast period.
The offline segment will account for a major share of the market's growth during the forecast period.?This segment generates revenue from the sales of products through specialty stores, hypermarkets, supermarkets, convenience stores, and clubhouse stores, and department stores. The revenue of the offline distribution channel has been declining over the years, owing to the high preference for online shopping. To increase sales through offline channels, market players are expanding their stores in local and regional markets.
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The offline segment was valued at USD 411.40 million in 2018. Furthermore, with the declining preference for offline shopping, retailers are introducing new business and retail strategies, such as better pricing strategies and wider assortments, to sustain in such a competitive market. Thus, the offline segment is expected to grow at a moderate rate, thereby driving the market during the forecast period.
Based on type, the market has been segmented into movable robots and stationary robots. The movable robots?segment will account for the largest share of this segment. The movable robotic pet dogs look similar to natural pet dogs as they can move and do realistic moves as natural dogs. Furthermore, due to the growing application of AI, these dogs are gaining traction and replacing natural dogs as they do not require high maintenance, unlike natural dogs. The rising demand is due to the growing aging population and a source of entertainment for kids is anticipated to drive the growth of the movable robots segment, which will drive the market during the forecast period.
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North America is estimated to contribute 34% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The US and Canada are the main contributors to the market in North America. Launch of featured and premium robotic products, and growing awareness and adoption of dogs as a new source of entertainment for children are the key factors driving the market in the US.
Furthermore, the proliferation of advanced products by leading market players has also played a key role in driving the demand for robotic pet dogs in the region. Therefore, the rising preference for robotic pets in the region is anticipated to drive the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Ageless Innovation, ANYbotics, BIRANCO Ltd., Consequential Robotics Ltd., Contixo Inc., Ghost Robotics Corp., HangZhou YuShu TECHNOLOGY CO LTD., Hyundai Motor Co., LEGO System AS, Petoi LLC, RobotShop Inc., Silverlit Toys Manufactory Ltd., Sony Group Corp., SoundOriginal Electronics Co. Ltd., Tech Age Kids , Tombot Inc., WEofferwhatYOUwant, WowWee Group Ltd., and Oz Robotics
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is experiencing significant growth, driven by factors such as demand drivers stemming from the pet boom and demographic changes, including rising income levels and shifting lifestyles. Companies like Hasbro are leading in financial performance and product innovations, offering pet companion robots that provide therapy, amusement, and companionship for those with dementia or Alzheimer's disease. These robotic pet companions boast lifelike motions, responsive behaviors, and vocalization skills, enhancing emotional bonds and enabling meaningful interactions. With advancements in AI and sensor technologies, these robots offer personalization and realism, adapting to user preferences and providing immersive experiences. The market is witnessing the entry of tech firms and toy producers, offering value-added services and appealing designs through licensing agreements with healthcare and educational institutions. The future of the market looks promising, with a focus on therapeutic advantages, AI-powered companionship, and dynamic interactions that mimic human behavior.
Moreover, the market is flourishing with the introduction of pet companion robots that offer lifelike companionship and therapeutic applications. These robotic pet companions exhibit artificially intelligent and responsive behaviors, including vocalization skills and facial recognition, providing immersive and emotionally fulfilling interactions. As urbanization and social factors contribute to social isolation, these robots cater to a prospective clientele seeking mental wellness and emotional wellbeing solutions. With licensing agreements in place with healthcare institutions, these robots are designed with biomimetic features, such as organic posture and realistic hair textures, ensuring enhanced realism and immersion. Companies like Spin Master and Tekno Robotics are at the forefront, leveraging learning algorithms and adaptation to user preferences to establish a strong position in the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.78% |
Market growth 2024-2028 |
USD 608.53 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.26 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, Japan, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ageless Innovation, ANYbotics, BIRANCO Ltd., Consequential Robotics Ltd., Contixo Inc., Dimple nyc., Ghost Robotics Corp., HangZhou YuShu TECHNOLOGY CO LTD., Hyundai Motor Co., LEGO System AS, Petoi LLC, RobotShop Inc., Silverlit Toys Manufactory Ltd., Sony Group Corp., SoundOriginal Electronics Co. Ltd., Tech Age Kids , Tombot Inc., WEofferwhatYOUwant, WowWee Group Ltd., and Oz Robotics |
Market dynamics |
Parent market analysis, Market Forecasting, 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 the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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