New York, US, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Household Robot Market information by Component, Type, Application and Region – forecast to 2027” the market is predicted to cross USD 8.5 billion by 2025 at a CAGR of 15.5%.
Household Robot Market Scope:
A household robot is a type of service robot that assists humans by performing an activity or a task. These robots are autonomous and are controlled by an in-built control system. It can conveniently connect to WI-FI networks and conducts tasks with a high degree of autonomy. It is used for a variety of purposes, including education, therapy, and entertainment. The household robot market is expected to expand dramatically in the coming years.
Dominant Key Players on Household Robot Market Covered Are:
- Samsung Electronics Co. Ltd (South Korea)
- iRobot (US)
- Neato (US)
- LG Electronics Inc (South Korea)
- Ecovacs (China)
- Dyson (UK)
- Alfred Kärcher (Germany)
- Lego (Denmark)
- John Deere (US)
- iLife Innovation (China)
- BSH Hausgeräte (Germany)
- Miele (Germany)
- Robomow (Israel)
- Blue Frog Robotics (France)
- Husqvarna (Sweden)
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Market Drivers:
Household robots are useful for a variety of tasks. Robots, for example, are commonly used in vacuum cleaning. These robots are made up of an intelligently programmed vacuum floor cleaning system that allows the machine to clean the floor autonomously without the need for human involvement. Furthermore, because of their compact size and autonomy, robot vacuum cleaners are more convenient to use than conventional vacuum cleaners.
The household robot market is expected to expand rapidly in the coming years. Household robots are more dependable and need less maintenance. A promising future for household robots can be seen in the coming years due to an increase in the penetration of robots in household applications, an increase in technical advances, and an increase in the cost of labor service. Other factors also have an effect on the household robot market. These include rapid urbanization and industrialization, product development, and consumer awareness of the acceptability of home appliances.
The growth of the household robot market is being driven by an increase in demand for autonomous robots, an increase in understanding of robotics applications, an increase in safety concerns, and a continuous increase in technological advancements. However, one of the factors impeding the growth of the household robot market is the high initial investment. Increased R&D investments are focusing on improving robot endurance in order to generate lucrative opportunities for the growth of the household robot market.
Browse In-depth Market Research Report (111 Pages) on Household Robot Market:
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Segmentation of Market covered in the research:
The global household robot market has been segmented into components, types, and applications.
By component, the global household robot market has been segmented into products and services.
By type, the global household robot market has been segmented into domestic and entertainment.
By application, the global household robot market has been segmented into house cleaning, lawn mowing, companionship, toys & hobby systems, elderly assistance, laundry robots, and others.
Regional Analysis
Region-wise, the global household robot market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America is a massive market with explosive growth potential for housecleaning robots. The North American domestic robotics market is bolstered by a thriving robotics industry and widespread acceptance of robotic technology.
Europe is ranked second in the industry. An increasing geriatric population is driving demand for elderly assistance robots, while younger people want companionship robots and robotic toys.
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COVID-19 Impact on the Global Household Robot Market
Household robots are the result of recent technical advances in critical areas such as robotics, object recognition, home navigation, and human-robot collaboration. The global spread of COVID-19 has caused havoc in the electronics industry. Changing consumer behavior as a result of global economic volatility is likely to have an effect on the household robot market over the predicted timeframe. Governments around the world have enforced lockdowns, which have impacted the majority of industrial players and forced people to stay at home, reducing physical contact among people. Most businesses have allowed employees to work from home to ensure business continuity during the COVID-19 pandemic, which is expected to stymie the growth of the household robots market over the forecast period. The limitations imposed on production activities to adhere to social distancing norms are likely to stymie the growth of the electronics industry, limiting the growth of the global household robot market.
The COVID-19 crisis has disrupted operations in the electronics industry all over the world. The change in customer preferences toward critical products is expected to have an effect on the household robot market over the forecast period. Furthermore, the COVID-19 outbreak has resulted in the closure of international borders, resulting in a significant drop in global demand for household robots and related goods. Travel bans have been imposed by governments all over the world. Furthermore, limitations on public meetings and travel bans in several countries are expected to impede the growth of the household robot market over the forecast period.
In the coming months, the increased emphasis on social distancing and personal care will likely impact demand for such items, including household robots. The spread of the pandemic has not only resulted in the loss of human lives but has also increased the likelihood of a global economic recession. The partial or total lockdowns in a number of countries have had an indirect or direct effect on many sectors, causing disruptions in supply chains and operations, as well as product commercialization, among other things.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
