(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Entertainment Robots Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Entertainment Robots Market products
Download Sample of This Strategic Report:- .
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023
The global entertainment robots market is expected to reach approximately USD 3.71 billion by 2023 at a CAGR of 23.06% from 2018 to 2023 . The global entertainment robots market is growing due to developments in artificial intelligence technology, increasing demand for animatronic robots, and the rapid growth of the aging population. However, high initial costs are expected to hamper the market growth in the coming years. Entertainment robots are specifically designed for leisure purposes. These robots can interact with people by singing, dancing, and narrating stories. Aibo, Poo-Chi, Bo-Wow, iDOG, Gupi, Teksta, and i-Cybie are some of the entertainment robots gaining popularity.
Download Sample of This Strategic Report:-
The market has been segmented based on product, end user, and region.
By product, the market has been broadly classified as robot toys, educational robots, and robotic companion pets. The robot toys segment is expected to lead the global entertainment robots market owing to the high demand for robot toys for children. The educational robot segment is expected to register the highest CAGR during the forecast period due to the increasing demand for educational robots by trainers, educational institutes, and parents as they aid in creative problem-solving, critical thinking, reasoning, and innovative learning.
The global entertainment robots market has been divided, by end user, into media, education, retail, and others. The media segment is expected to be the largest during the forecast period. The media industry has started using robots such as the Blue Man Group robot and the Walt Disney World robot to entertain people. Furthermore, the adoption of colorful and informative robots to attract crowds at amusement parks, shopping malls, and trade fairs is fueling the growth of the media segment of the entertainment robots market. The education segment is expected to register the highest CAGR during the forecast period due to the rising adoption of entertainment robots in preschools. The robots are used as tools to build real environments for children to interact with, which helps in improving problem-solving skills, teamwork, and creativity.
Key Players
The key players in the global entertainment robots market are Kuka AG (Germany), Hasbro, Inc. (US), Microsoft Corporation (US), Mattel, Inc. (US), Sphero (US), Blue Frog Robotics (France), Modular Robotics Inc. (US), Robobuilder Co., Ltd (South Korea), Sony Corporation (Japan), and LEGO (Denmark).
Download Sample of This Strategic Report:-
Global Entertainment Robots Market Analysis and Forecast, 2017–2023
• To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the entertainment robots market
• To provide insights into factors affecting market growth
• To analyze the entertainment robots market based on Porter's Five Forces analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main regions and their countries—North America, Europe, Asia-Pacific, and the rest of the world
• To provide country-level analysis of the market with respect to the current market size and future perspective
• To provide country-level analysis of the market for a segment on the basis of product, and end user.
• To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers & acquisitions, new product developments, and research and development in the entertainment robots market
Target Audience
• Research organizations
• Original equipment manufacturers
• Technology investors
• Software/application providers
• Sensor manufacturers
• Robot manufacturers
• Government organizations
• Research/consultancy firms
Key Findings
• The global entertainment robots market is expected to reach USD 3.71 billion by 2023.
• The robot toys product segment led the market in 2017 with a value of USD 784.27 million; it is expected to register a CAGR of 22.47% during the forecast period. The educational robots segment is projected to register the highest CAGR of 25.45%
• By end-user, the media industry is leading the market, generating the highest revenue of USD 635.74 million in 2017 and is expected to register a CAGR of 22.76% during the review period. The education industry segment is projected to be the fastest-growing at the highest CAGR of 25.82%
• The market in Asia-Pacific is projected to be the largest during the assessment period, followed by North America.
Request For Full Report-
Regional and Country-Level Analysis of the Entertainment Robots Market, Estimation and Forecast
Asia-Pacific is expected to be the largest and fastest-growing entertainment robots market at the highest CAGR of 23.78% during the forecast period. This growth can be attributed to advancements in camera and sensor technology. China is a prominent market owing to significant investments in the research and development of entertainment robots expected during the forecast period. The North American is the second-largest market for entertainment robots due to the increasing adoption of artificial intelligence and cognitive computing and a wide range of applications for robots in the entertainment industry.
The report on the global entertainment robots market also covers the following country-level analysis:
• North America
o US
o Canada
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
• Rest of the World
About Us
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
Contact Us
Name: Kenneth research
Email:
Phone: +1 313 462 0609
Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
MENAFN17092021004545010068ID1102812639
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.