Consumer Robotics Market: Desire for Comfort and Need to Save Money to Drive Demand Worldwide

The global consumer robotics market is expected to grow at a robust pace owing to the progress and advancements in navigation systems and artificial intelligence. The growing use of computing devices such as smartphones, smart watches, and tablets and the ubiquity of the internet are also key contributors to the growth of the consumer robotics market, says a new report by Transparency Market Research (TMR). The report is titled, ‘Consumer Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020.’

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The study is a comprehensive analysis of the various market drivers and restraints. The impact analysis of these drivers and restraints are also studied. The report includes Porter’s five forces analysis and this helps readers to understand the market dynamics, including threat of new entrants and substitutes, degree of competition and bargaining power of suppliers and buyers. The report discusses the potential scope of the market and also sheds light on the trends that are impacting the market. The report segments the global consumer robotics market on the basis of key segments. The market forecast for each of the segments have been given in the report.

The growing use of robotics to get help with consumer tasks that can save time, money, and also provide comfort, is driving the market. Consumers are seeking peace of mind and comfort by achieving a reduction in their manual efforts and thus, increasingly opting for consumer robotics. Monotonous tasks, dirty, risky tasks, and various other tasks can be accomplished using robots. This is driving the large scale adoption of this technology across the globe.

Factors hampering the adoption rates of consumer robotics include safety concerns and inaccuracies in the operation of robots. Owing to operational inaccuracies, humans need to intervene which defeats the purpose of having consumer robotics. However, the use of robots will still be preferred over manual operations and this will continue to create growth opportunities in the market.

The global consumer robotics market is segmented on the basis of geography, end use, components, and industry verticals. By industry verticals, the market can be segmented into telepresence robots, industrial robotics, consumer robotics segment, educational robotics kits, healthcare robotics, and UAVs. By end-use, the market can be segmented into entertainment robots, task robots, security and surveillance robots, educational robots, and personal robots.

Key players are profiled in the report for the purpose of study. They are Grishin Robotics, Bossa Nova Robotics, Ecovacs, iRobot, Hasbro, Hoaloha Robotics, RoboDynamics, Lego Education, Neato Robotics, Toyota, Samsung Electronics, Sharp TechJect Inc., WowWee Group Limited, and Willow Garage.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.