Personal Service Robotics Market Analysis by Robot Type with Regional Outlook & Forecast to 2024

Market Overview

With the major applications in medical, agriculture, defense and logistics, demand for service robots were increased by 27% in 2016, as compared to 2015. Along with professional service, personal service robotics business is also expanding across the globe. The demand for personal and domestic service robots were waved by 16% in 2015. Growing demand of robots for household and domestic purpose is spurring the market growth. In 2016, around 4 million units of personal service robots were sold which includes vacuum cleaners, window cleaners and lawn mowers. Personal service robotics segment is relatively a new market and is giving rise to various startups in this field. Growing number of startups for this business is expected to contribute in the personal service robotics market growth.

As per the Goldstein Research analyst, the global personal service robotics market size valued USD 2.9 billion in 2016 and is estimated to reach USD 21.0 billion by 2024 growing at a CAGR of 28.0% during the period 2016-2024.

Personal Service Robotics Market Segmentation

Based on Product Type

• Household/Domestic Robots

• Cleaning Robots
• Assistive Robots
• Other Robots(Lawn-Mowing Robots, Home Security & Surveillance Robots)

• Entertainment or Leisure Robots

• Toy Robots
• Education & Research Robots
• Other Robots (Robotic Companion Pets and Multimedia Robots)

Based on Geography

• North America (U.S. & Canada) Personal Service Robotics Market

• Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Personal Service Robotics Market
• Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Personal Service Robotics Market
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Personal Service Robotics Market
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Personal Service Robotics Market

Market Share by Robot Type & by Region

On the basis of product type, domestic or household robots occupied 67% market share to total sales of personal service robots in 2016. Sales volume of domestic robots is projected to reach over 55 million units by 2024. Nearly 2 million units of entertainment robots were sold in 2016 and the number is projected to reach over 11 million units by 2024. Rising popularity of toy and education robots is likely to contribute in the market growth during the forecast period.

Based on geography, Europe region dominated the global personal service robotics market and accounted for 35% of total market share in 2016. North America personal service robotics market valued USD 0.9 billion in 2016 and is estimated to register healthy growth during the forecast period. Asia-Pacific region is expected to bring ample of opportunities for personal service robotics market in the near future, owing to the growing number local players for personal service robots in countries such as China and Japan in the region.

Trends, Drivers & Challenges to Market Growth

According to our global personal service robotics market study on the basis of extensive primary and secondary research: “Assistive robots for handicapped and elderly people are expected to create pool of opportunities for personal service robotics market. In 2016, over 4,720 assistive robots were sold which was increased by 7.3% as compared to 2014.”

According to the report, growing demand for robots which are skilled in accomplishing tedious household task are expected to propel the growth of personal service robotics market. In 2016, sales of vacuum cleaning, lawn-mowing and window cleaning robots were more than 25% as compared to 2015.

Further, the report states that high initial cost and concern associated with human safety may hinder the market growth of personal service robotics during the forecast period. PR2 developed by Willow Garage is one of the most expensive personal service robots whose price is USD 250,000. Other personal service robots such as NAO and Darwin are ranges from USD 12,000 to USD 15000.

Covered In This Global Personal Service Robotics Market Report

The report covers the present ground scenario and the future growth prospects of the personal service robotics market for 2016-2024 along current and estimated sales value of personal service robots in every region. We calculated the market size and revenue share on the basis of revenue generated from total sales of personal service robots (million units) and price value personal service robots across the globe.

Personal service robotics market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global personal service robotics market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global personal service robotics market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Key Market Players

Our global personal service robotics market report comprises of the following companies as the key players in the Personal Service Robotics market.

• iRobot Corporation
• Ecovacs
• Future Robots
• Gecko Systems
• Hanool Robotics
• Hayward Industries

Other high-flying vendors in the market are: Hoover, Intel, Jibo, LG Electronics, Mamirobot, Matsutek, Maytronics, Miele, Neato Robotics Inc., Yujin Robot, GCtronic, DO bots, ROBOPOLIS, Pentair, Samsung Electronics, Softbank Group Corporation, Sony Corporation, Toshiba, Wany Robot, WowWee, Zodiac and Awabot.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this market study

• What is the total market size by 2024 and what would be the expected growth rate of personal service robotics market?
• What are the sales of personal service robots in every region and what would be the opportunities over the forecast period?
• What is the total number of manufacturers of all types of personal service robots by region?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

We can provide two hour complimentary interaction with our analyst after the purchase of this market report. Details are imparted within the report.