Japan, Japan, Monday, March 28, 2022 09:45:35 / Comserve Inc. / – Household Robots Market with Top Country Data, Industry Analysis, Size, Share, Revenue, Important Players , developing technologies, trends and forecasts
The household robot market is expected to register a CAGR of 20.50% over the forecast period. Household robots are also called domestic robots, which are part of autonomous service robots to perform mundane jobs, such as floor cleaning, pool cleaning, and lawn mowing, but they can also be used for education, entertainment and care for the elderly. According to the International Federation of Robotic Report 2019, unit sales of household robots are expected to increase by an average of 46% per year, with more than 55 million units to be sold in 2022. Moreover, the sales values of the household robot rose 15% to $3.7 billion.
– Technological innovations, in terms of cognition, interaction and manipulation, have made domestic robotics more attractive. Technology and other component vendors have been instrumental in advancing the robotics ecosystem. For example, in April 2019, researchers at the University of California developed a robot that uses artificial intelligence (AI) to perform complex human tasks, like helping fold laundry or making a cup of coffee.
– Rising penetration of automation in household appliances, rising labor costs and growing safety concerns are driving the demand for household robots across the world.
– With the growing growth of the smart home concept, the robot can play a crucial role in the smart home ecosystem. For example, in 2019, Temi partnered with Amazon Alexa to design smart, mobile, and personal AI-powered robots. The temi home robot combines advanced sensing, Amazon’s Alexa virtual assistant technology, and AI-enabled facial and voice recognition to deliver a mobile smart home hub that promises to bring human-computer interaction to a new level.
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Main market trends
The vacuuming and cleaning segment will dominate the market
– Among all the household robots, vacuum cleaners and automatic washers are the most marketed and developed products by companies. Companies are constantly investing in the development of more compact and integrated robot vacuums and mops to reach tight places in the home. Companies are integrating advanced technologies, such as voice recognition and laser technologies, to map soil structure. For example, Irobot launched a Roomba i7+, capable of acquiring voice commands and intelligent mapping techniques.
– Moreover, with the increasing developments of machine vision cameras, companies are also using these 2D and 3D machine vision cameras with artificial intelligence technologies to effectively map the edges of the floor, such as a staircase, and recognize obstacles, such as cables, trash cans, door sills, and carpets.
– In addition, to increase the life of cleaning tools, such as brushes and filter, companies are now installing blades inside the chamber to cut the waste into pieces; especially human and pet hair which causes frequent tangles in equipment and reduces cleaning efficiency.
The Asia-Pacific region is expected to see the fastest growth
– The Asia-Pacific region is expected to experience the fastest growth, due to high investment in the development of household robots and growing demand for autonomous smart home devices, such as robot cleaners. The region includes countries, such as China, offering low-cost toy robots, among other sophisticated household robots. According to the Asia Fund Manager 2019 studies, Ecovacs Robotics is the largest Chinese player in home robotics. It sold 4.14 million products, pushing its revenue up 34.7% year-on-year.
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– Companies in the region are also eager to develop versatile household robots to help with household chores and even offer companionship. Toyota is expected to launch the inverted age pyramid in Japan by 2050. In addition, the company is investing in the development of household products. Additionally, a Japanese startup, Preferred Networks, has announced the launch of versatile household robots to help people over the next five years.
– In addition, investors in the region are constantly injecting funds into startups offering household robots. For example, in January 2020, Trifo raised $15 million from investors including Yidu Cloud, Tsinghua AI Fund, and Matrix Partners for its “Lucy” robotic vacuum cleaner.
– In July 2019, iFlyTek raised a USD 407 million investment from China Asset Management to integrate AI and service robots. Such market growth is expected to drive the growth of the household robot market in the region.
The household robot market is moderately consolidated due to the presence of a few companies dominating the market. In addition, the continued development and commercialization of these products should attract new market entrants. To gain more market share, companies offering household products are making strategic acquisitions and product launches. Some of the recent developments are mentioned below.
1.1 Study deliverables
1.2 Assumptions of the study
1.3 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing investment in research and development and wide range of applications
4.2.2 Rapid urbanization
4.3 Market Constraints
4.3.1 High cost of equipment
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Threat of new entrants
4.5.2 Bargaining power of buyers/consumers
4.5.3 Bargaining power of suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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