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Global Household Robots Market Size, Analysis And Key Players
(MENAFN- Straits Research)
market Dynamics
Household robots are automated machines that clean the floor, pool, windows, and yard with minimal human intervention. A service robot that supports humans by carrying out a task or job is called a domestic robot. These autonomous robots are managed by an integrated in-control system. It has a high degree of autonomy when performing activities, is simple to connect to wi-fi networks, and is utilized for various things like education, counseling, and entertainment. Due to developments in technology, such as those in cognition, interaction, and manipulation, these domestic robots are becoming more and more alluring. Technology and other component providers have significantly contributed to the robotics ecosystem's development. As a result of daily technical advancements, home robots are becoming more beneficial and valuable.
High Adoption of Automation in Households Spurs the Demand for Household Robots
Household robots, also known as domestic robots, are a subclass of autonomous service robotics used to do menial chores such as pool cleaning, floor cleaning, and grass mowing. They can also be employed for various purposes, such as amusement, instruction, and senior care. According to the International Federation of Robotics report 2020, 48.6 million home-duty service robots are expected to be sold by 2023. The growing automation of home appliances, rising labor costs, particularly in developed nations, and rising safety concerns related to the pandemic's effects are some of the causes driving the global market for household robots.
US Bureau of Labor Statistics data assets that residential and commercial cleaning laborers cost USD 27,000 annually. A cleaning robot, on the other hand, costs roughly USD 25,000 upfront. So, in recent years, cleaning robots' efficiency and accuracy have substantially contributed to their acceptance. Given the rapidly growing smart house concept, robotics is projected to be a vital component of the larger smart home ecosystem. Robotic vacuum cleaners have reduced household duties, which is the main factor impacting the market growth. Modern households are using more computers, which gives suitability and reduces the time needed for housework.
iRobot, Robomow, and Mayfield Robotics are some well-known companies making domestic robots. Consumer confidence is increasing due to innovations like human behavior detection and speech recognition, which are also accelerating the use of robotics for household chores like cleaning, laundry, and other voice-enabled IoT activities.
Advancing Rate of Investments Create Umpteen Opportunities for Household Robots Market
The increased investments made by enterprises worldwide to create domestic robots for several applications is one of the significant factors opening up potential in the industry. Several businesses, including Samsung and LG Electronics, are heavily investing in developing and launching new home robotic products. For instance, Jibo is developing social robots to assist families and function as interactive housemates. Foreign investors aware of the market potential are also investing in startups that offer domestic robot solutions. Due to developments in technology, such as cognition, interaction, and manipulation, these domestic robots are becoming more and more alluring. Technology and other system integrators have greatly aided the advancement of the robotics business.
For example, the Toyota Research Institute (TRI) announced in June 2021 that its engineers had developed new capabilities for its most recent series of home robots. Among the new skills is the ability to identify and operate with translucent things and clean counters and tables. Additionally, businesses are using 2D and 3D machine vision cameras in conjunction with AI technologies to efficiently map and recognize obstacles like dustbins, wires, doorsills, and rugs, as well as the boundaries of the floor, such as a staircase, owing to the advancement of machine vision cameras. Numerous companies are spending significant sums of money on product research and development due to the growing demand for domestic robots in the daily lives of urban dwellers.
Regional Insights
Europe will command the leading market share, expanding at a CAGR of 20.15% over the forecast period. Europe has a significant robot market, mainly in Germany. The region's robotics market is primarily driven by government support, continuous investment in robotics development and expanding demand for various household uses. The region's companies also participate in product innovation. Inrobics Social Robotics, for instance, debuted a brand-new robotic system in 2022 to provide households and healthcare institutions with services for motor and cognitive rehabilitation. The instrument improves the quality of life for persons with neurological and functional disorders.
Additionally, the Federal Government's Observatory for Artificial Intelligence in Work and Society (AI Observatory) announced in 2020 that it would develop metrics that would precisely measure and evaluate the application of AI in work and society. Numerous regional alliances and acquisitions fuel the market for home robots. For instance, Paramount Leisure Industries Inc. was bought by Hayward Industries Inc. Equipment for cleaning pools below the surface is offered for sale by Paramount Leisure Industries Inc. Global clientele for Hayward and customer support at Paramount will be combined as a result of this transaction. This will also create numerous opportunities for the company to expand its customer base. Market merchants also give their products hefty discounts to boost sales and work with different e-commerce platforms.
North America will likely expand at a CAGR of 20.3%, generating USD 10 billion by 2030. North America is an important market for robotics and is home to some noteworthy inventors and early adopters of the technology. Due to reasons such as rising robotic vacuum use, home automation, mopping, and pool cleaning, the industry is growing. In 2021, online retailer Amazon unveiled Astro, a capable robot that can transport household goods, monitor a user's home, and check in on family members. The Amazon Astro robot can perform various household tasks, including roving the house to watch out for unusual behavior and working with a forthcoming Alexa service to help caregivers stay in touch with aging loved ones.
Many firms prevailing in the region are also focusing on developing innovative products. To improve restaurant kitchen operations, Miso Robotics, the company that developed Flippy, a robotic kitchen assistant powered by AI, launched its software as a service in 2021. The software can track and automatically identify products and kitchen operations on a subscription basis. The application of artificial intelligence in robots for the home market is also supported by the National Science Foundation's (NSF) rising financial assistance. According to the NSF, they will invest more money in 21 projects for more than three years to support emerging technologies like robots in the following years. These factors are predicted to lead to an increase in the North American market for household robots.
Key Highlights
The global household robots market had a revenue holding of USD 6.81 billion in 2021. It is expected to reach USD 30.7 billion by 2030, growing at a CAGR of 20.7% during the forecast period (2022–2030).
By application, the global household robot market includes Robotic Vacuum & Mopping, Lawn Mowing, Pool Cleaning, Companionship, and Others. The Robotic Vacuum & Mopping section is projected to advance at a CAGR of 20.2% and hold the largest market share over the forecast period.
By offering, the global household robot market includes Products and Services. The Product section will advance significantly and hold the largest market share over the forecast period.
By type, the global household robot market includes Domestic and Entertainment & Leisure. The Domestic section will advance significantly and hold the largest market share over the forecast period.
By region, the global household robotics market includes North America, Europe, Asia-Pacific, and the Rest of the World. Europe holds the leading market position.
Competitive Players in the Market
iRobot Corporation
Neato Robotics Inc. (Vorwerk)
Samsung Electronics Co. Ltd
Ecovacs Robotics Inc.
Panasonic Corporation
LG Electronics Inc.
Blue Frog Robotics Inc.
Roborock Technology Co. Ltd
Husqvarna Group
ILIFE Innovation Ltd
bObsweep Inc.
Market News
In 2022, iRobot Corporation unveiled the iRobot OS. iRobot OS provides a new user experience for cleaner, healthier, and more smart homes.
Global Household Robots Market: Segmentation
By Application
Robotic Vacuum & Mopping
Lawn Mowing
Pool Cleaning
Companionship
Others
By Offering
Products
Services
By Type
Domestic
Entertainment & Leisure
By Regions
North America
Europe
Asia-Pacific
Rest of the World
Household robots are automated machines that clean the floor, pool, windows, and yard with minimal human intervention. A service robot that supports humans by carrying out a task or job is called a domestic robot. These autonomous robots are managed by an integrated in-control system. It has a high degree of autonomy when performing activities, is simple to connect to wi-fi networks, and is utilized for various things like education, counseling, and entertainment. Due to developments in technology, such as those in cognition, interaction, and manipulation, these domestic robots are becoming more and more alluring. Technology and other component providers have significantly contributed to the robotics ecosystem's development. As a result of daily technical advancements, home robots are becoming more beneficial and valuable.
High Adoption of Automation in Households Spurs the Demand for Household Robots
Household robots, also known as domestic robots, are a subclass of autonomous service robotics used to do menial chores such as pool cleaning, floor cleaning, and grass mowing. They can also be employed for various purposes, such as amusement, instruction, and senior care. According to the International Federation of Robotics report 2020, 48.6 million home-duty service robots are expected to be sold by 2023. The growing automation of home appliances, rising labor costs, particularly in developed nations, and rising safety concerns related to the pandemic's effects are some of the causes driving the global market for household robots.
US Bureau of Labor Statistics data assets that residential and commercial cleaning laborers cost USD 27,000 annually. A cleaning robot, on the other hand, costs roughly USD 25,000 upfront. So, in recent years, cleaning robots' efficiency and accuracy have substantially contributed to their acceptance. Given the rapidly growing smart house concept, robotics is projected to be a vital component of the larger smart home ecosystem. Robotic vacuum cleaners have reduced household duties, which is the main factor impacting the market growth. Modern households are using more computers, which gives suitability and reduces the time needed for housework.
iRobot, Robomow, and Mayfield Robotics are some well-known companies making domestic robots. Consumer confidence is increasing due to innovations like human behavior detection and speech recognition, which are also accelerating the use of robotics for household chores like cleaning, laundry, and other voice-enabled IoT activities.
Advancing Rate of Investments Create Umpteen Opportunities for Household Robots Market
The increased investments made by enterprises worldwide to create domestic robots for several applications is one of the significant factors opening up potential in the industry. Several businesses, including Samsung and LG Electronics, are heavily investing in developing and launching new home robotic products. For instance, Jibo is developing social robots to assist families and function as interactive housemates. Foreign investors aware of the market potential are also investing in startups that offer domestic robot solutions. Due to developments in technology, such as cognition, interaction, and manipulation, these domestic robots are becoming more and more alluring. Technology and other system integrators have greatly aided the advancement of the robotics business.
For example, the Toyota Research Institute (TRI) announced in June 2021 that its engineers had developed new capabilities for its most recent series of home robots. Among the new skills is the ability to identify and operate with translucent things and clean counters and tables. Additionally, businesses are using 2D and 3D machine vision cameras in conjunction with AI technologies to efficiently map and recognize obstacles like dustbins, wires, doorsills, and rugs, as well as the boundaries of the floor, such as a staircase, owing to the advancement of machine vision cameras. Numerous companies are spending significant sums of money on product research and development due to the growing demand for domestic robots in the daily lives of urban dwellers.
Regional Insights
Europe will command the leading market share, expanding at a CAGR of 20.15% over the forecast period. Europe has a significant robot market, mainly in Germany. The region's robotics market is primarily driven by government support, continuous investment in robotics development and expanding demand for various household uses. The region's companies also participate in product innovation. Inrobics Social Robotics, for instance, debuted a brand-new robotic system in 2022 to provide households and healthcare institutions with services for motor and cognitive rehabilitation. The instrument improves the quality of life for persons with neurological and functional disorders.
Additionally, the Federal Government's Observatory for Artificial Intelligence in Work and Society (AI Observatory) announced in 2020 that it would develop metrics that would precisely measure and evaluate the application of AI in work and society. Numerous regional alliances and acquisitions fuel the market for home robots. For instance, Paramount Leisure Industries Inc. was bought by Hayward Industries Inc. Equipment for cleaning pools below the surface is offered for sale by Paramount Leisure Industries Inc. Global clientele for Hayward and customer support at Paramount will be combined as a result of this transaction. This will also create numerous opportunities for the company to expand its customer base. Market merchants also give their products hefty discounts to boost sales and work with different e-commerce platforms.
North America will likely expand at a CAGR of 20.3%, generating USD 10 billion by 2030. North America is an important market for robotics and is home to some noteworthy inventors and early adopters of the technology. Due to reasons such as rising robotic vacuum use, home automation, mopping, and pool cleaning, the industry is growing. In 2021, online retailer Amazon unveiled Astro, a capable robot that can transport household goods, monitor a user's home, and check in on family members. The Amazon Astro robot can perform various household tasks, including roving the house to watch out for unusual behavior and working with a forthcoming Alexa service to help caregivers stay in touch with aging loved ones.
Many firms prevailing in the region are also focusing on developing innovative products. To improve restaurant kitchen operations, Miso Robotics, the company that developed Flippy, a robotic kitchen assistant powered by AI, launched its software as a service in 2021. The software can track and automatically identify products and kitchen operations on a subscription basis. The application of artificial intelligence in robots for the home market is also supported by the National Science Foundation's (NSF) rising financial assistance. According to the NSF, they will invest more money in 21 projects for more than three years to support emerging technologies like robots in the following years. These factors are predicted to lead to an increase in the North American market for household robots.
Key Highlights
The global household robots market had a revenue holding of USD 6.81 billion in 2021. It is expected to reach USD 30.7 billion by 2030, growing at a CAGR of 20.7% during the forecast period (2022–2030).
By application, the global household robot market includes Robotic Vacuum & Mopping, Lawn Mowing, Pool Cleaning, Companionship, and Others. The Robotic Vacuum & Mopping section is projected to advance at a CAGR of 20.2% and hold the largest market share over the forecast period.
By offering, the global household robot market includes Products and Services. The Product section will advance significantly and hold the largest market share over the forecast period.
By type, the global household robot market includes Domestic and Entertainment & Leisure. The Domestic section will advance significantly and hold the largest market share over the forecast period.
By region, the global household robotics market includes North America, Europe, Asia-Pacific, and the Rest of the World. Europe holds the leading market position.
Competitive Players in the Market
iRobot Corporation
Neato Robotics Inc. (Vorwerk)
Samsung Electronics Co. Ltd
Ecovacs Robotics Inc.
Panasonic Corporation
LG Electronics Inc.
Blue Frog Robotics Inc.
Roborock Technology Co. Ltd
Husqvarna Group
ILIFE Innovation Ltd
bObsweep Inc.
Market News
In 2022, iRobot Corporation unveiled the iRobot OS. iRobot OS provides a new user experience for cleaner, healthier, and more smart homes.
Global Household Robots Market: Segmentation
By Application
Robotic Vacuum & Mopping
Lawn Mowing
Pool Cleaning
Companionship
Others
By Offering
Products
Services
By Type
Domestic
Entertainment & Leisure
By Regions
North America
Europe
Asia-Pacific
Rest of the World
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