Enjoy complimentary customisation on priority with our Enterprise License!
The robotic pet dogs market size is estimated to grow at a CAGR of 12.78% between 2023 and 2028. The market size is forecast to increase by USD 608.53 million. The growth of the market depends on several factors such as the efficiency of robotic pet dogs in entertaining the aged population, the benefits of robotic pet dogs, and the incorporation of AI in robotic pet dogs. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by distribution channel (offline and online), type (movable robots and stationary robots), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Robotic Pet Dogs Market Forecast 2024-2028
To learn more about this report, Request Free Sample
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. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Entertainment is required to divert people's minds from their busy schedules and to provide a sense of happiness, enjoyment, and relaxation. Robotic pet dogs 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 global robotic pet dogs 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 global robotic pet dogs 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.
Get a Customised Report as per your requirements for FREE!
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 global robotic pet dogs 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 for robotic pet dogs 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 global robotic pet dogs market during the forecast period.
For more insights on the market share of various regions View PDF Sample now!
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 robotic pet 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 robotic pet dogs market during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected robotic pet manufacturing units in this region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. The resumption of employees to their offices boosted the demand for robotic pets in 2022. The growing stress-related problems are expected to drive the demand for robotic pet dogs, which in turn will boost the growth of the regional robotic pet dogs 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 robotic pet dogs market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
|
Robotic Pet Dogs 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 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 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
Research Framework
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
