(MENAFN - America News Hour)Global Household Robots Market is valued approximately USD 2.7 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 22.40% over the forecast period 2019-2026. The Household Robots is a type of service robot, that is used for household chores, education, entertainment or therapy. The growth of household robot market is due to the increasing awareness, growing research and development investments, wide range of applications, easy availability and scarcity of skilled workers.
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The demand increased in this market is driven by the factors of rapid urbanization & industrialization, and product development & technological innovations. Although the cost structure of this market is too high, but the demand of human-friendly robot make its own pace by neglecting such a high price. While a household robot appears to be useful for many consumers, actually buying one remains a desire, not a need. Since domestic robots have the practical benefit of automating mundane tasks, such as cleaning or mowing, they are expected to contribute to a larger share of the market in the near future. Global Household Robots market report studies historical factors and market influencers, key strategies that helped the market to grow as well as, the ones hampering the market potential.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
The regional analysis of global Household Robots Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia Pacific is the leading region across the world. Increase in investment toward household robots, especially in countries such as China, Japan, and South Korea is driving the market in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising investments wide range of applications, easy availability and scarcity of skilled workers would create lucrative growth prospects for the Household Robots Market across Asia-Pacific region.
Major market player included in this report are:
Blue Frog Robotics
Deere & Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Entertainment and Leisure
Elderly Assistance and Handicap Systems
Robot Toys and Hobby Systems
Rest of the World
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Target Audience of the Global Voice Analytics in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Chapter 1.Executive Summary
1.3.Global & Segmental Market Estimates & Forecasts, 2016-2026 (USD Billion)
1.3.1.Location Analytic Market, by Component, 2016-2026 (USD Billion)
1.3.2.Location Analytic Market, by Solution, 2016-2026 (USD Billion)
1.3.3.Location Analytic Market, by Number of Paths, 2016-2026 (USD Billion)
1.3.4.Location Analytic Market, by End User, 2016-2026 (USD Billion)
1.3.5.Location Analytic Market, by Region, 2016-2026 (USD Billion)
Chapter 2.Global Location Analytic Market Definition and Scope
2.1.Objective of the Study
2.2.Market Definition & Scope
2.2.2.Scope of the Study
2.3.Years Considered for the Study
2.4.Currency Conversion Rates
Chapter 3.Global Location Analytic Market Dynamics
3.1.See Saw Analysis
Chapter 4.Global Location Analytic Market Industry Analysis
4.1.Porter's 5 Force Model
4.1.1.Bargaining Power of Buyers
4.1.2.Bargaining Power of Suppliers
4.1.3.Threat of New Entrants
4.1.4.Threat of Substitutes
4.1.6.Futuristic Approach to Porter's 5 Force Model
4.3.Key Buying Criteria (On Demand)
4.4.Regulatory Framework (On Demand)
4.5.Investment Vs Adoption Scenario (On Demand)
4.6.Analyst Recommendation & Conclusion
Chapter 5.Global Location Analytic Market, by Component
5.2.Market Performance – Potential Model
5.3.Location Analytic Market, Sub Segment Analysis
184.108.40.206.Market estimates & forecasts, 2016-2026 (USD Billion)
220.127.116.11.Regional breakdown estimates & forecasts, 2016-2026 (USD Billion)
18.104.22.168.Market estimates & forecasts, 2016-2026 (USD Billion)
22.214.171.124.Regional breakdown estimates & forecasts, 2016-2026 (USD Billion)
Chapter 6.Global Location Analytic Market, by Solution
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