Household Robots Market | Latest Innovation, Advance Technology, Top Companies Forecast 2022-2031


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Mar 28, 2022, 09:45 EST


Shibuya-ku, Tokyo, Japan, Japan, Mar 28, 2022, 09:45 /Comserve / -- Household Robots Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The household robots market is expected to register a CAGR of 20.50% over the forecast period.The household robots are also termed as domestic robots, which are the part of autonomous service robots for carrying out mundane works, such as floor cleaning, pool cleaning, and lawn mowing, but they can also be used for education, entertainment, and elderly assistance. According to the International Federation of Robotic Report 2019, unit sales of household robots are expected to increase by 46% on average per year, with more than 55 million units will be sold in 2022. Also, sales values for the household robot were up by 15% to USD 3.7 billion.

- Technological innovations, with respect to cognition, interaction, and manipulation, have made household robotics more appealing. Technology and other component providers have been instrumental in moving the robotics ecosystem forward. For instance, in April 2019, researchers at the University of California developed a robot that uses artificial intelligence (AI) to perform intricate human tasks, such as helping in folding laundry or making a cup of coffee.
- Increasing penetration of automation in household appliances, rise in labor costs, and increasing safety concerns are driving the demand for household robots across the world.‚Äč
- With the increasing growth of the smart home concept, the robot may play a crucial role in the smart home ecosystem. For instance, in 2019, Temi partnered with Amazon Alexa to design intelligent, mobile, 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 take human-machine interaction to a new level.

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Key Market Trends

The Vacuum Cleaning and Mopping Segment to Dominate the Market


- Among all the household robots, automated vacuum cleaners and moppers are the most commercialized and developed products by the companies. The companies are continuously investing in developing more compact and integrated vacuum cleaner and mopping robots to reach narrow places at home. The companies are integrating advanced technologies, like voice recognition and laser-based technologies, to map the floor structure. For instance, Irobot launched a Roomba i7+, which is capable of acquiring voice commands and intelligent mapping techniques.
- Additionally, with the increasing developments in the machine vision cameras, companies are also using these 2D and 3D machine vision cameras with AI technologies to effectively map edges of the floor, like a staircase, and recognize obstacles, such as cables, dustbins, doorsills, and rugs.
- Moreover, to increase the life of cleaning tools, like brushes and filter, now, the companies are installing blades inside the chamber to cut the trash into pieces; especially human and pet hairs which cause frequent entanglements in the equipment and reduce cleaning effectiveness.

The Asia-Pacific Region is Expected to Witness the Fastest Growth

- The Asia-Pacific region is expected to witness the fastest growth, due to high investments in household robot development and growth in the demand for autonomous smart home devices, like robotics cleaners. The region includes countries, like China, offering low priced toy robots, among other sophisticated household robots. According to Asia Fund Manager 2019 studies, Ecovacs Robotics is China’s biggest player in household robotics. It has sold 4.14 million products, pushing sales revenue up by 34.7% year-on-year.

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- Companies in the region are also looking forward to developing all-purpose household robots for helping with chores and even offering companionship. Toyota is expected to launch the inverted age-pyramid in Japan by 2050. Also, the company is investing in developing household products. Additionally, a startup from Japan, Preferred Networks, declared to launch the all-purpose household robots to help people in the next five years.
- Moreover, the investors in the region are continuously injecting funds in the startups offering household robots. For instance, in January 2020, Trifo raised USD 15 million from investors that include Yidu Cloud, Tsinghua AI Fund, and Matrix Partners for its robotic vacuum “Lucy”.
- In July 2019, iFlyTek raised an investment of USD 407 million from China Asset Management to integrate AI and service robots. Such growth in the market is expected to drive the growth of the household robots market in the region.

Competitive Landscape

The market for household robots is moderately consolidated due to the presence of a few companies dominating the market. Also, the further development and commercialization of these products are expected to attract new entrants in the market. To gain more market share, the companies offering household products are making strategic acquisitions and product launches. Some of the recent developments are mentioned below.

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
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 Growing Research and Development Investments and Wide Range of Applications
4.2.2 Rapid Urbanization
4.3 Market Restraints
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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