Personal and Homecare Robotics Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR40867
Technavio

Purchase this report now and if we publish a new version within 90 days, we will send you a free copy.

Safe and Secure SSL Encrypted
  • 2500.00
  • USD

The robotics market size in personal and homecare sector has the potential to grow by USD 4.99 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 87.45%. 

This report provides a detailed analysis of the market by product (companion robots and emotional therapy robots), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

Robotics-Market-In-Personal-And-Homecare-Sector-Market-Size-2020-2025

Browse TOC and LoE with selected illustrations and example pages of Robotics Market in Personal and Homecare Sector

 Request a FREE sample now!

Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • BLUE FROG ROBOTICS SAS
  • F&P Robotics AG
  • GeckoSystems Intl. Corp.
  • LG Electronics Inc.
  • NTT Disruption Europe SL
  • PARO Robots US Inc.
  • Robert Bosch GmbH
  • SoftBank Robotics Group Corp.
  • Sony Corp.
  • Ubtech Robotics Inc.

 

The personal and homecare robotics market is fragmented and the vendors are deploying growth strategies such as offering robots with high differentiation based on quality, and performance to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the emergence of low-price robotic solutions to achieve growth opportunities. However, factors such as the risk of malfunctioning and hacking in companion robots will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the robotics market forecast report for personal and homecare sector for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This robotics market analysis report for personal and homecare sector also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Robotics Market in Personal and Homecare Sector: Key Drivers and Trends

  • The advent of artificial intelligence has enabled these machines to understand human emotions and interact in a real-time environment.
  • This is encouraging market vendors to focus on developing low-cost companion and emotional therapy robots to meet the growing demand and to make the product affordable for more users.
  • The robot is integrated with artificial intelligence and is capable of understanding the commands given by users.
  • The robot assists people by reminding users about doctors' appointments, exercise, and meditation schedules.
  • Robot manufacturers that focus on offering emotional support to elderly people are also focusing on developing solutions at affordable costs so that a majority of the people can use these robots. This will influence the growth of the robotics market in the personal and homecare sector during the forecast period.
  • AI has enabled machines to be modeled after the human brain, with advanced cognitive abilities to perform complicated tasks such as understanding languages, recognizing faces and expressions, and learning things over time and responding accordingly.
  • AI is one of the vital robotics market trends in the personal and homecare sector. These robots incorporate AI to understand the expressions of the user, which helps to create an emotional connection between the robots and the users.
  • These robots can integrate with the cloud and IoT, thus enabling data collection to generate insights and enhance their performance.
  • These companion robots also have a number of smart sensors that enable autonomous movement without collision and prevent them from going in the wrong direction. This, in turn, is encouraging new startups to offer promising products in the market at affordable costs.

 

Grab your Free Sample now to unlock further information on other key market drivers

Robotics Market in Personal and Homecare Sector: Segmentation by Geography

Robotics-Market-In-Personal-And-Homecare-Sector-Market-Share-by-Region-2020-2025

For more insights on the market share of various regions Request for a FREE sample now!

66% of the market’s growth will originate from APAC during the forecast period. Japan, China, and South Korea (Republic of Korea) are the key markets for robotics in personal and homecare sector in APAC. Market growth in this region will be faster than the growth of the market in MEA and South America.

The growing awareness of personal service robots will facilitate the robotics market growth in personal and homecare sector in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Robotics Market in Personal and Homecare Sector: Segmentation by Product

Robotics-Market-In-Personal-And-Homecare-Sector-Market-Share-by-Product-2020-2025

Request for a FREE sample and Get more information on the market contribution of various segments

Companion robots are gaining more popularity due to the increasing trend of older people living alone and requiring a companion for social interaction. The major factor driving the demand for these robots is the aging population in several countries, especially Japan. However, the personal and homecare robotics market share growth by the companion robots segment will be slower than the emotional therapy robots segments. 

The post COVID19 impact has fast-tracked the demand for companion robots due to the increasing number of people suffering from anxiety and loneliness. Fetch actionable market insights on post COVID19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the personal and homecare robotics market size.

 

Event-Tickets-Market-Report

Request for a FREE sample

Robotics Market in Personal and Homecare Sector: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive personal and homecare robotics market growth during the next five years
  • Precise estimation of the robotics market size in personal and homecare sector and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the robotics industry in personal and homecare sector 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 personal and homecare robotics market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Read More Read Less

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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
Interested in this report?
Get your FREE sample now!
The robotics market in personal and homecare sector market growth will increase by $1938.95 million during 2019-2024.
The robotics market in personal and homecare sector market is expected to grow at a CAGR of 76.38% during 2019-2024.
Technavio has segmented the robotics market in personal and homecare sector market by product (Companion robots and Emotional therapy robots) and geographic (APAC, Europe, North America, South America, and MEA).
Blue Frog Robotics SAS, F&P Robotics AG, Jibo Inc., LG Electronics Inc., PARO Robots US Inc., Robert Bosch GmbH, Robot Care Systems BV, SoftBank Group Corp., Sony Corp., UBTECH Robotics Inc. are a few of the key vendors in the robotics market in personal and homecare sector market.
APAC will register the highest growth rate of 70.99% among the other regions. Therefore, the robotics market in personal and homecare sector market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • Japan
  • South Korea (Republic of Korea)
  • US
  • Germany
  • UK
The key factors driving the robotics market in personal and homecare sector market growth are:
  • Emergence of low-price robotic solutions
  • Advances in robots
The robotics market in personal and homecare sector market vendors should focus on grabbing business opportunities from the companion robots segment as it accounted for the largest market share in the base year.
Safe and Secure SSL Encrypted
Technavio

Single User:

2500 USD

Technavio Get the report (PDF) sent to your email within minutes.

Subscribe & Save

Get lifetime access to our
Technavio Insights

Want to customize this report?

This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

We offer $1000 worth of FREE customization at the time of purchase
Technavio
Enquire Before Buying
  1. Home
  2. Industrials
  3. Published Report
17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>