Personal and Homecare Robotics Market by Product and Geography - Forecast and Analysis 2021-2025
- Published: Feb 2021
- Pages: 120
- SKU: IRTNTR40867
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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.
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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
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Robotics Market in Personal and Homecare Sector: Segmentation by Geography
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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
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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.
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
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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)
- Emergence of low-price robotic solutions
- Advances in robots
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