Tuesday February 5, 2019 0 comments
BOULDER -- Consumer robot shipments shipments are projected to rise from 15.4 million in 2018 to 65.8 million units annually by 2025, with the global consumer robotics market reaching $19 billion in annual revenue, according to a new report from Tractica.
Consumer robots have been part of popular culture for decades, fueling visions of having robots living alongside humans in our homes to assist with daily tasks, entertain, educate, and socialize. However, the promise of consumer robotics remains largely unfulfilled. Cleaning robots, such as robotic vacuums, dominate the market and we are years away from widespread adoption of the robot types that people have envisioned sharing their homes, the report notes.
But that situation is now changing, according to the report.
“Traditional consumer robotics companies are accelerating the use of AI to make their robots smarter and extend their capabilities. Integration with smart home devices will be a long-term driver of the market,” said Sherril Hanson, Tractica research analyst.
“The toy robot category is exploding, with options for both education and pure entertainment and fun. Toy robots are increasingly being used as educational tools in science, technology, engineering, and math (STEM)-based curriculum.”
Tractica’s report, “Consumer Robotics”, examines the global market trends for consumer robots and provides market sizing and forecasts for shipments and revenue during the period from 2018 through 2025. The report focuses on crucial market drivers and challenges, in addition to assessing the most important technology issues that will influence market development.
In total, 37 key industry players are profiled with additional information on more than 70 other companies. Market forecasts are segmented by world region and robot type, in addition to data on technology and connectivity attach rates.
An Executive Summary of the report is available for free download on the firm’s website.