A robot is an electro-mechanical machine guided by a computer program or electronic circuitry. Robots have thoughts of their own and they may convey a sense of intelligence by automating movements or by mimicking a lifelike appearance. Robotics is the branch of technology that deals with the construction, design, operation, and application of robots, as well as computer systems for their sensory feedback and control. Robots are human mimicked machines designed to carry out a variety of actions and physical tasks. They may not completely resemble humans or perform tasks in humanly manner, but they are very efficient in replacing human efforts.
The market for consumer robotics can be segmented based on end-use, industry verticals, components, and geography. Based on end-use, the market can be divided into task robots, surveillance robots, entertainment robots, security robots, educational robots and personal robots. Based on industry verticals, the market can be divided into educational robotics kits, consumer robotics segment, tele-presence robots, UAVs, industrial robotics and healthcare robotics. Based on components, the market can be divided into processors, communications technologies, software, microcontrollers, displays, cameras, actuators, power supplies, sensors, manipulators, mobile robots, mobile platforms, wheels, legs, hopping, ball, walking and other mobility options outdoor land locomotion, outdoor water locomotion, locomotion for flying through the air.
The major trends that have supported the development of consumer robotics market on a large scale include advancements in navigation systems, artificial intelligence, ubiquity of the internet and rise of hand-held computing devices. The increase in the number of hand held computing devices such as smart phones, tablets and smart watches has made it easier to develop robots for consumer and office applications. Mobile devices offer users the opportunity to outsource computing to companion devices by allowing developers to produce application controlled robots at accessible price.
The advancement in consumer robotic technology is enabling people to devote most of their time in important tasks, as robots take on their daily household chores, which is one of the major factors behind their increasing adoption.
Robots help people in several other activities like cleaning dirty floors, and entertaining children. The benefits associated with the use of robots offer immense growth opportunities in the near future.
Reluctance of substituting manual labor with service robots in traditional field operations is the biggest challenge for the growth of robotics market. The high price of robots is another major restraint for consumer robotics market. The consumer robotics market, being in nascent phase, demands high price for key technologies that power object manipulation and robot mobility. The physical appearance of robots is another hindrance for the consumer robotics market as many people do not feel comfortable with the “not so appealing” humanoid appearance of robots. Although the consumer robotics market is growing, inaccuracies caused by human intervention and safety concerns in their operation discourage people to use them.
Some of the major companies operating in the consumer robotics market are Intuitive Surgical Inc., Honda Motors Company Ltd., iRobot Corporation, Google Inc., and MAKO Surgical Corporation.
Report Coverage
- Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
- Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
- Uncovers potential demands in the market
- Porter analysis identifies competitive forces within the market
- Provides information on the historical and current market size and the future potential of the market
- Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
- Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger & acquisitions
- Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.
