Consumer Robotics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 14.5 Billion |
| Market Size (2029) | USD 33.27 Billion |
| CAGR (2024 - 2029) | 18.07 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Consumer Robotics Market Analysis
The Consumer Robotics Market size is estimated at USD 14.5 billion in 2024, and is expected to reach USD 33.27 billion by 2029, growing at a CAGR of 18.07% during the forecast period (2024-2029).
Robotics is playing an ever-growing role in the evolution of smart home technology. Due to technological and engineering advancements, robots now execute many tasks with unprecedented accuracy and efficiency. One prominent application is consumer robotics, which empowers individuals to harness the benefits of robotic automation.
• Consumer robotics hold the promise of not just convenience but a transformative impact on human lives. By taking over mundane or repetitive tasks, these robots free up time for more creative pursuits. They also make services more accessible, overcoming barriers of cost and availability. Beyond these advantages, consumer robots enhance physical and cognitive abilities, enabling them to achieve feats that would be challenging without their support.
• In recent years, developed and developing nations have witnessed a surge in demand for consumer robots, primarily due to their increasing affordability and accessibility. For example, US Department of Treasury data highlights a boost in household purchasing power. In 2023, median American workers maintained their 2019 purchasing power and enjoyed an extra USD 1,000 to spend or save, owing to median earnings outpacing price increases. Similarly, data from MOSPI reveals that consumer spending in India topped a record INR 25.6 trillion by the close of Q4 2023. Given these financial trends, consumers are increasingly investing in products that elevate their quality of life, which, in turn, is creating a favorable ecosystem for the market studied growth.
• In addition, the rising adoption of advanced technologies by consumers has fostered a conducive environment for the growth of this market. For example, as consumers increasingly pursue innovative and immersive entertainment experiences, education robots have emerged as a captivating option. These robots, ranging from companions and gaming devices to interactive toys, engage users and promise hours of amusement.
• Technological advancements play a pivotal role in propelling the growth of the examined market. For example, breakthroughs in artificial intelligence and navigation systems, coupled with widespread internet access and the surge of handheld devices like smartphones, tablets, and smartwatches, have significantly bolstered the widespread evolution of consumer robots.
• Yet, despite the market's expansion, robotic products grapple with challenges related to performance and pricing. Notably, the field's innovation demands hefty investments in research and development. Consequently, robots' steep price tags pose a significant hurdle to their widespread adoption among consumers.
Consumer Robotics Market Trends
Cleaning and Maintenance Segment to Hold a Significant Market Share
- As awareness of hygiene and sanitation rises, consumers increasingly seek effective cleaning solutions to ensure their living spaces remain clean and germ-free. Consumer robotics, including robotic vacuum cleaners, floor mopping robots, and UV sterilizing robots, provide automated cleaning capabilities, effectively removing dust, dirt, allergens, and harmful pathogens from floors, surfaces, and even the air.
- In addition, the global working population has seen a significant uptick. According to the ILO, in 2024, the worldwide employment figure reached an estimated 3.5 billion, a notable jump from 2.23 billion in 1991. While there was a dip in global employment from 2019 to 2020, dropping from 3.3 billion to 3.19 billion, this was largely attributed to the economic jolt of the COVID-19 pandemic.
- As family members increasingly juggle work commitments and daily household chores, the demand for residential cleaning robots has surged. In addition, technological advancements have enhanced the features and capabilities of these robots, further fueling consumer interest.
- Furthermore, the smart home trend is on the rise, with consumers gravitating towards networked devices that can be centrally managed and monitored. Cleaning robots that seamlessly integrate into smart home ecosystems have captured the attention of tech-savvy consumers, propelling market growth.
- Looking ahead, cleaning robot designs are set to emphasize energy efficiency and sustainability. Manufacturers are encouraged to explore green materials, energy-efficient components, and eco-conscious production methods, aligning with the global shift towards environmentally friendly products.
North America to Hold a Major Market Share
- In North America, the Consumer Robotics Market is witnessing a notable uptick in demand for household and personal service robots. This trend is primarily attributed to the region's aging population and their increasing need for assistance in daily activities. Data from the Urban Institute highlights a significant demographic shift: Americans aged 65 and older are expected to surge by 80 million by 2040, more than doubling from previous figures. Furthermore, adults aged 85 and older, who typically require more assistance with personal care, are expected to see their numbers nearly quadruple from 2000 to 2040.
- In a time of technology revolutionizing healthcare, robots tailored for elderly care emerge as groundbreaking tools, significantly surging the quality of life for seniors. These robots, once relegated to the realm of science fiction, now provide tangible solutions to everyday challenges, bolstering both independence and overall quality of life.
- The market studied is also flourishing in the region, fueled by technological advancements and a growing appetite for automation. The region's robust consumer culture, coupled with high disposable incomes, has spurred the adoption of consumer robots across various domains, including cleaning, security, and entertainment. Furthermore, a well-established regulatory framework has fostered an environment ripe for the evolution and acceptance of consumer robotics, propelling the market's growth.
- Moreover, North America boasts many consumer robot providers, offering diverse products tailored to meet various consumer needs. A prime example is iRobot Corporation, a leading player in the consumer robot arena. To date, iRobot has successfully sold over 50 million robots globally. Their product lineup showcases cutting-edge technologies and cleaning, mapping, and navigation innovations.
Consumer Robotics Industry Overview
The consumer robotics market is moderately competitive and consists of some influential players. These significant players with a noticeable market share leverage strategic collaborative actions to improve their market percentage and enhance their profitability. Some key market players include iRobot Corporation, Roborock, ECOVACS Robotics, and Neato Robotics Inc., among others.
• August 2024 - Dreame Technology has broadened its product lineup in India, introducing an array of robotic vacuum cleaners, a versatile wet and dry vacuum, and innovative cordless stick vacuums. These additions address diverse cleaning requirements, boasting advanced features and solutions tailored tod for Indian homes.
• July 2024 - ECOVACS has introduced the DEEBOT T30S COMBO, marking a significant addition to its lineup. This model promises a holistic cleaning experience. Alongside, the company rolled out the DEEBOT X5 PRO OMNI and DEEBOT N20 PRO, broadening its offerings to meet varied household cleaning demands. Notably, the DEEBOT T30S COMBO stands out as the inaugural member of the T30 family series. It merges a multifunctional handheld vacuum with a cutting-edge robotic vacuum cleaner, all elegantly housed within a state-of-the-art OMNI station.
Consumer Robotics Market Leaders
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iRobot Corporation
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ECOVACS Robotics
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Roborock
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Neato Robotics, Inc.
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DJI Service LLC
*Disclaimer: Major Players sorted in no particular order
Consumer Robotics Market News
- May 2024 - Robot Era, a startup specializing in humanoid robots, has introduced its latest innovation: the XHand, a dexterous handcrafted for everyday and industrial applications. This advanced robotic hand flexes its fingers, opens and closes its grip, and swings its arms with finesse. Demonstrating its delicate touch, the XHand adeptly handles items ranging from plush toys to a gentle, purring cat. Its precision is evident as it trims withered leaves, manipulates robotic gears, inflates balloons, and even shoots plastic marbles.
- February 2024 - Doly unveiled an autonomous AI-driven companion, seamlessly integrating robotics, AI, and coding education into one dynamic offering. Marking a milestone, it's the inaugural device to adopt an open hardware and design philosophy, all driven by Raspberry Pi. This innovative stance facilitates deep customization and guarantees the continual evolution of Doly's capabilities.
Consumer Robotics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 The Growing Demand for Automation Solutions in Households with Rising Concerns Over Cleanliness
5.1.2 Rising Technological Advancements Favouring the Market Growth
5.2 Market Restraints
5.2.1 Challenges Associated with Complexity of Integration and Compatibility
6. MARKET SEGMENTATION
6.1 By Level of Autonomy
6.1.1 Autonomous
6.1.2 Semi-Autonomous
6.2 By Application
6.2.1 Cleaning and Maintenance
6.2.2 Security and Surveillance
6.2.3 Entertainment and Companionship
6.2.4 Personal Wellbeing and Healthcare
6.2.5 Others
6.3 By Geography***
6.3.1 North America
6.3.2 Europe
6.3.3 Asia
6.3.4 Australia and New Zealand
6.3.5 Latin America
6.3.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 iRobot Corporation
7.1.2 RECOVACS Robotics
7.1.3 Roborock
7.1.4 Neato Robotics, Inc.
7.1.5 DJI Service LLC
7.1.6 LG Electronics
7.1.7 Samsung
7.1.8 Robert Bosch GmbH
7.1.9 Maytronics
7.1.10 Shark Robotics
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Consumer Robotics Industry Segmentation
Consumer robotics involves the use of robotic technology in the consumer market, covering a wide range of products. These applications range from lawn-mowing robots and pool-cleaning devices to robotic vacuums and other home automation systems. The study uses the revenue generated by vendors from consumer robot sales as a foundation for market estimations. In addition, it examines trends and dynamics shaping the market's growth to refine these estimates.
The consumer robotics market is segmented by level of autonomy (autonomous, semi-autonomous), application (cleaning and maintenance, security and surveillance, entertainment and companionship, personal wellbeing and healthcare, others), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| By Level of Autonomy | |
| Autonomous | |
| Semi-Autonomous |
| By Application | |
| Cleaning and Maintenance | |
| Security and Surveillance | |
| Entertainment and Companionship | |
| Personal Wellbeing and Healthcare | |
| Others |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Consumer Robotics Market Research FAQs
How big is the Consumer Robotics Market?
The Consumer Robotics Market size is expected to reach USD 14.5 billion in 2024 and grow at a CAGR of 18.07% to reach USD 33.27 billion by 2029.
What is the current Consumer Robotics Market size?
In 2024, the Consumer Robotics Market size is expected to reach USD 14.5 billion.
Who are the key players in Consumer Robotics Market?
iRobot Corporation, ECOVACS Robotics, Roborock, Neato Robotics, Inc. and DJI Service LLC are the major companies operating in the Consumer Robotics Market.
Which is the fastest growing region in Consumer Robotics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Consumer Robotics Market?
In 2024, the North America accounts for the largest market share in Consumer Robotics Market.
What years does this Consumer Robotics Market cover, and what was the market size in 2023?
In 2023, the Consumer Robotics Market size was estimated at USD 11.88 billion. The report covers the Consumer Robotics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Consumer Robotics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Consumer Robotics Industry Report
Statistics for the 2024 Consumer Robotics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Consumer Robotics analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Consumer Robotics Market Report Snapshots
