Entertainment Robots Market is Anticipated to reach USD 18.1 billion, grow at a CAGR of 24.60 % from 2023 to 2032

Entertainment Robots Market Insights:

The market size for entertainment robots was estimated at USD 2.5 billion in 2022. According to projections, the market for entertainment robots would increase from USD 3.1 billion in 2023 to USD 18.1 billion by 2032, with a compound annual growth rate (CAGR) of 24.60% throughout the forecast period (2023-2032). The development of high-AI entertainment robots and the increased use of robots by children and seniors are the main factors boosting the market’s expansion.

An ageing population, increased need for animatronics, and advancements in artificial intelligence technologies are all driving up the market for entertainment robots. The capabilities included into entertainment robots that help them learn from one another, interact with people, and make judgements include robot vision, machine learning, and cognitive computing.

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Key Players:

• Kuk of Germany
• Hasbro Inc. of the United States
• Mattel Inc of United States
• Sphero of United States
• Bluefrog Robotics of France
• Modular Robotics of United States
• Robobuilder of South Korea
• Sony Corporation of Japan
• Lego of Denmark,

are the notable vendors in the Entertainment Robots market.

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Entertainment Robots Market Regional Analysis:

The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, the Asia Pacific Entertainment Robots market held a commanding 45.80% of the market. The market for entertainment robots is predicted to rise in developing nations like China and India among others due to an expansion in industrial and production bases. The Japanese government has announced funding for the creation of eldercare robots in an effort to address the anticipated 380,000-person skilled labour shortfall by 2025. Additionally, the Japanese government wants to ensure that by 2050, all new cars sold in Japan will be either electric or hybrid. The country intends to offer subsidies to speed up the private sector’s development of batteries and motors for electric vehicles. The usage of elderly care robots in households is expected to increase as a result in the near future. Additionally, the Indian market for entertainment robots was expanding at the quickest rate in the Asia-Pacific region, while China’s market for these devices maintained the biggest market share.

Entertainment Robots Market Segmentation:

Robot Toys, Educational Robots, and Robotic Companion Pets are included in the segmentation of the Entertainment Robots Market based on Product. In 2022, the segment with the highest revenue share was robot toys.

Media, education, retail, and others are included in the segmentation of the entertainment robots market based on end user. In 2022, the entertainment robots market was dominated by the retail segment.

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This is the perfect component to fuel the industry’s growth. In 2016, a UK-based company called Emotech LTD unveiled entertainment and toy robots with developed personalities and the ability to respond to varied circumstances. These robots are used in many different contexts, such as those involving the arts, education, information provision, hospitality, and health and social care. On January 9, 2018, Sony Corporation introduced an entertainment robot whose movements were guided by analytics and artificial intelligence.

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