Personal Service Robotics Market Size, Share will grow with a CAGR of 8.20% in the forecast period of 2030
Research Reports
Aug 18, 2023
Personal Service Robotics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Personal Service Robotics Market Information By Component , By Application ,and Region – Forecast till 2030”, Personal Service Robotics Market could thrive at a rate of 8.20%between 2022 and 2030. The market size will be reaching around USD 20.31 billion by the end of the year 2030
Market Synopsis
Personal Service Robotics refers to the use of robotic technology to assist individuals in performing various tasks and services in their daily lives. These robots are designed to provide support and convenience to individuals in areas such as household chores, healthcare, entertainment, and companionship. They can perform tasks like cleaning, cooking, monitoring health conditions, providing assistance to people with disabilities, and even engaging in social interactions.
Market Competitive Landscape:
The affluent companies in the Personal Service Robotics industry include
- Samsung Electronics Co. Ltd.
- Hasbro Inc.
- Ecovacs Robotics Inc
- ZMP Inc
- Hansol Robotics Corp.
- Neato Robotics Inc
- F&P Robotics AG
- Segway Inc.
- Honda Motor Co Ltd.
- iRobot Corporation
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June 2021
Stratasys, a leading provider of 3D printing solutions, announced the launch of its new manufacturing-focused printer, the H Series. The printer is designed to produce large, complex parts at high speed and accuracy, making it suitable for applications in industries such as aerospace, automotive, and defense.
Market USP Covered:
Market Drivers:
The market for Personal Service Robotics is driven by several factors. Firstly, the increasing aging population worldwide and the need for assistance in daily activities have created a demand for robotic solutions that can provide support and care to the elderly. Additionally, advancements in robotics technology, including artificial intelligence and machine learning, have enhanced the capabilities and functionalities of personal service robots, making them more efficient and adaptable to different tasks. Lastly, the growing trend of smart homes and automation in households has fueled the adoption of personal service robots for tasks such as cleaning, security, and entertainment.
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Market Restraints:
There are certain restraints that hinder the growth of the Personal Service Robotics market. One major challenge is the high cost associated with developing and manufacturing advanced personal service robots. The complexity of the technology involved, including sensors, actuators, and software, increases the production cost, making these robots relatively expensive for mass adoption. Additionally, concerns related to privacy and security, particularly in the case of robots that interact with individuals in their homes, can impact consumer acceptance and limit market growth. Stricter regulations and standards may also pose challenges for manufacturers and developers in terms of compliance and market entry.
COVID 19 Analysis
The COVID-19 pandemic has had a significant impact on the Personal Service Robotics market. The need for social distancing and minimizing human-to-human contact has increased the demand for robots that can perform tasks autonomously, reducing the risk of virus transmission. Personal service robots have been used in healthcare facilities for tasks such as disinfection, patient monitoring, and delivery of medical supplies. In the post-COVID scenario, the adoption of personal service robots is expected to continue growing as individuals and organizations prioritize hygiene and safety measures.
Market Segmentation
By Component
The component include in market Hardware, Software
By Application
By the application in the market include Cleaning Robot, Entertainment & Toy Robot, Education Robot, Handicap Assistance Robot, Companion Robot, Personal Transportation Robot, Security Robot
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Regional Insights
North America is a leading market for Personal Service Robotics, with the United States at the forefront. The region’s strong technological advancements and significant investments in research and development have contributed to the growth of the market. The high demand for smart home automation solutions, driven by the convenience and efficiency they offer, has further propelled the adoption of personal service robots in North America. The region’s well-developed infrastructure and consumer awareness regarding robotics technology have also played a significant role in driving market growth.
Europe is another prominent region in the Personal Service Robotics market. The region’s aging population has created a demand for assistance and care services, leading to the adoption of personal service robots. Countries like Germany, the United Kingdom, and France are particularly driving the market due to their focus on healthcare and elderly care sectors. The implementation of supportive policies and regulations related to robotics in these countries has also facilitated market growth. Additionally, Europe has a strong presence of leading robotics manufacturers and developers, contributing to the advancements in personal service robotics technology.
The Asia Pacific region is experiencing rapid growth in the use of personal service robots. Countries such as Japan, South Korea, and China are leading the market in this region. Technological innovation, particularly in robotics and automation, has been a significant driving factor. The region’s urbanization and the increasing focus on robotics in sectors like healthcare, hospitality, and retail have created a conducive environment for the adoption of personal service robots. Moreover, the growing middle-class population and rising disposable income in these countries have boosted the demand for advanced and convenient solutions, leading to the growth of the market.
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