Global Household Robots Market Overview 2024: Size, Drivers, And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The Business Research Company’s Household Robots Global Market Report 2024 offers crucial insights into the household robots market help businesses analyse and build stronger strategies.
The household robots market has witnessed remarkable expansion in recent years, signaling a shift towards automated assistance in daily tasks. The market size surged from $8.1 billion in 2023 to $9.7 billion in 2024, demonstrating a robust compound annual growth rate (CAGR) of 19.8%. Several factors have fueled this growth in the historic period:
- Consumer desire for convenience
- Smart home integration
- Increased consumer awareness
- Affordability improvements
- Environmental sustainability
- Safety enhancements
- Government initiatives
The Road Ahead: Projections and Trends
Looking ahead, the household robots market is poised for exponential growth, projected to reach $20.35 billion by 2028 with a CAGR of 20.4%. Anticipated developments in the forecast period include:
- Advancements in human-robot interaction
- Growing adoption of voice assistants
- Expansion of robotic lawn care
- Advancements in object recognition
- Continued decline in component costs
- Expanding applications in hospitality
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Major trends to watch out for:
- Increased adoption of robotic vacuum cleaners
- AI and machine learning advancements
- Multi-functional robots
- Personal assistant robots
- Cloud connectivity and data analytics
- Energy-efficient and eco-friendly designs
Driving Forces Behind Market Growth
Growing Demand for Robots
The high demand for robots, particularly for household chores like cleaning and ironing, is a key driver propelling the market forward. Notable statistics include:
- Global robot installations expected to grow by 13% in 2021
- America’s sales increased by 27%
- Asia and Australia witnessed a 33% increase in installations
- Europe experienced a 15% growth in robot installations
Key Players and Innovations
Ecovacs Robotics’ Revolutionary Robot
Technological advancements play a pivotal role in shaping the household robot market. Companies like Ecovacs Robotics are pioneering innovations to cater to evolving consumer needs. For instance:
- Launch of DEEBOT X1 OMNI, an all-in-one vacuum and mopping robot
- Features include All-in-One OMNI Station and potent AIVI 3D technology
- Designed for all-around cleaning to enhance daily life
Amazon’s Acquisition of iRobot Corporation
In August 2022, Amazon acquired iRobot Corporation for $1.7 billion, signaling a strategic move to strengthen its foothold in the smart home technology ecosystem. The collaboration between Amazon and iRobot is expected to yield innovations that enhance customer experience and quality of life.
Market Segmentation and Regional Insights
Segmentation
The household robots market is segmented based on:
- Type: Domestic, Entertainment and Leisure
- Offering: Products, Services
- Application: Vacuuming, Lawn Mowing, Pool Cleaning, Companionship, Elderly Assistance and Handicap Assistance, Robot Toys and Hobby Systems, Other Applications
Regional Dynamics
Asia-Pacific emerged as the largest region in the household robots market in 2023, with expectations of continued dominance and rapid growth in the forecast period.
As automation continues to pervade households worldwide, the household robots market is poised for sustained expansion, driven by technological advancements, shifting consumer preferences, and strategic collaborations. With innovations like Ecovacs Robotics’ DEEBOT X1 OMNI and Amazon’s acquisition of iRobot Corporation, the stage is set for a new era of convenience and efficiency in household management.
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The Household Robots Global Market Report 2024 provides a comprehensive outlook of the household robots market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The household robots market forecast offers a thorough analysis on household robots market size, household robots market share, prominent players and their strategies.
The Table Of Content For The Household Robots Market Include:
1. Household Robots Market Executive Summary
2. Household Robots Market Segments
3. Household Robots Market Size And Household Robots Market Growth Rate
4. Key Household Robots Market Trends
5. Major Household Robots Market Drivers
……
25. Key Mergers And Acquisitions In The Household Robots Market
26. Top Household Robots Companies
27. Household Robots Market Opportunities And Strategies
28. Household Robots Market, Conclusions And Recommendations
29. Appendix
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