Consumer Service Robotics - Worldwide

  • Worldwide
  • Revenue in the Consumer Service Robotics market is projected to reach US$15.62bn in 2024.
  • Domestic service robotics dominates the market with a projected market volume of US$11.32bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.94%, resulting in a market volume of US$28.70bn by 2029.
  • In global comparison, most revenue will be generated in China (US$5,532.00m in 2024).

Key regions: South Korea, Germany, Japan, Canada, France

 
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Analyst Opinion

The Consumer service robotics market in the Robotics Market Worldwide is experiencing slow growth, due to factors such as limited adoption of digital technologies and low consumer awareness. However, the Entertainment service robotics sub-market is expected to drive growth, with increasing demand for interactive and personalized experiences. Overall, the market is hindered by high costs and lack of regulatory framework for these advanced technologies.

Customer preferences:
Consumers are increasingly looking for service robots that can perform tasks such as cleaning, cooking, and personal care, as they seek more convenience and efficiency in their daily lives. This trend is particularly evident among busy urban dwellers and aging populations, who value the assistance and support these robots can provide. Additionally, the rise of smart homes and connected devices has created a demand for service robots that can seamlessly integrate into existing systems and enhance overall home automation.

Trends in the market:
In the Consumer service robotics Market of the Service robotics Market within the Robotics Market, there is a notable trend towards the adoption of social robots in the hospitality industry. These robots are being used for tasks such as room service delivery and concierge services, providing a unique and efficient experience for guests. In addition, there is an increasing demand for personal assistant robots in households, especially for tasks such as cleaning and home security. This trend is expected to continue as more consumers seek out convenient and innovative solutions for everyday tasks. These developments have significant implications for industry stakeholders, as they must adapt to meet the changing needs and preferences of consumers.

Local special circumstances:
In the Consumer service robotics Market of the Service robotics Market within the Robotics Market, local factors play a significant role in shaping the market dynamics. In Japan, the market is driven by the aging population and the cultural preference for technology-based solutions. In China, the increasing demand for personal and household robots is fueled by the country's fast-paced urban lifestyle and rising disposable income. In Europe, strict regulations on labor and safety standards have led to a higher adoption of service robots in various industries, including healthcare and hospitality.

Underlying macroeconomic factors:
The growth of the Consumer service robotics market is influenced by macroeconomic factors such as technological advancements, regulatory support, and investment in automation infrastructure. Countries with favorable regulatory environments and strong investment in automation technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for efficient and cost-effective solutions in various industries, such as healthcare, retail, and hospitality, is driving the adoption of consumer service robotics. The rise in disposable income and changing consumer preferences towards convenience and personalized services are also contributing to the market growth.

Methodology

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Volume
  • Price
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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