Consumer robotics market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 20, 2023 /PRNewswire/ -- According to Technavio, the global consumer robotics market size is estimated to grow by USD 23,439.8 million from 2022 to 2027. The market is estimated to grow at a CAGR of  26.89% during the forecast period. APAC will account for 42% of the market's growth during the forecast period.

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Global consumer robotics market - Five forces
The global consumer robotics market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global consumer robotics market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global consumer robotics market - Segmentation assessment

Segment overview
Technavio has segmented the market based on application (domestic task, education, healthcare, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The market share growth of the in-ear segment will be higher than the other segments during the forecast period. 

• The market share growth of the domestic task segment will be higher than the other segments during the forecast period. One of the main factors driving the expansion of the home task category is the growing demand for autonomous robots. Many businesses are using automation technologies to reduce user intervention and offer their customers a smooth experience, such as app integration and intelligent navigation. Additionally, they provide capabilities like self-recharging and auto-cleaning due to the integration of AI services. Such factors are expected to drive the market during the forecast period.

Geography overview
By geography, the global consumer robotics market is segmented into APAC, Europe, North America, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global consumer robotics market.

• APAC will account for 42% of the market's growth during the forecast period. The availability of inexpensive consumer robotics and the growing number of high-net-worth individuals are fueling the adoption of consumer robots in China. Many new businesses are expected to enter the market as a result of the rising demand for consumer robots, and the education sector is also growing its use of these robots due to their effectiveness. For instance, several preschools in Singapore employ Pepper and Nao, a consumer robotic created by Softbank, for education. Such adoption of these robots is expected to drive the market in APAC during the forecast period.

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Global consumer robotics market – Market dynamics
Key factor driving market growth

• The growing demand for robotic automation processes is notably driving the market growth.
• Robotic process automation uses technology to design computer software or a robot to record and evaluate current applications for rule-based event processing, update data, trigger reactions, and connect with other digital systems.
• Robotic process automation optimizes large, repetitive tasks that take a lot of time and are often monotonous. With the ability to do tasks such as opening and closing accounts, creating proposals, testing and monitoring IT systems, and handling invoicing and customer care inquiries, such automation is becoming increasingly popular in a variety of business sectors.

Leading trends influencing the market 

• E-commerce as a platform for product sales is an emerging trend in the market.
• Various market providers have begun offering their products on e-commerce platforms. This not only enabled firms to access a larger number of customers but also decreased infrastructure development and marketing expenditures.
• Supplier expenses are reduced by more than 25% when products are introduced on online marketplaces. Therefore, vendors reduce the unit price of consumer robotics, which increases sales.
• Furthermore, many vendors give discounts and unique offers to customers. In terms of sales growth, e-commerce platforms assist businesses in getting customer input on their products in order to develop them further.

Major challenges hindering the market growth

• The high cost associated with robotic systems is a major challenge impeding the market.
• In order to incorporate sophisticated technology in service robotics, numerous companies are continually investing in R&D. Several new and improved models of service robotics are expected to enter the market. This is predicted to increase the cost of robots. The rising cost of robots is expected to hinder their adoption among middle-class consumers, particularly in India, Africa, and other emerging countries.
• Furthermore, the issues associated with battery life, and the stringent regulations and safety concerns related to robotics will hinder the market growth during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this consumer robotics market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the consumer robotics market between 2023 and 2027
• Precise estimation of the size of the consumer robotics market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the consumer robotics market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of consumer robotics market vendors

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Related Reports:

Industrial Robotics Services Market by Application, End-user, and Geography - Forecast and Analysis 2023-2027: The industrial robotics services market is estimated to grow at a CAGR of 6.9% between 2022 and 2027. The size of the market is forecast to increase by USD 7,429.08 million. The surge in demand for industrial robots is notably driving the market growth, although factors such as the high cost of services may impede the market growth.

Mobile Robot Platforms Market by Product, End-user, and Geography - Forecast and Analysis 2023-2027: The mobile robot platforms market is estimated to grow at a CAGR of 16.43% between 2022 and 2027. The size of the market is forecast to increase by USD 2,126.87 million. The changes in the global labor force are notably driving the market growth, although factors such as the high cost of deployment may impede the market growth. 

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global consumer robotics market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global consumer robotics market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Distribution channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Domestic task - Market size and forecast 2022-2027
• Exhibit 34: Chart on Domestic task - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Domestic task - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Domestic task - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Domestic task - Year-over-year growth 2022-2027 (%)

• 6.4 Education - Market size and forecast 2022-2027
• Exhibit 38: Chart on Education - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Education - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Education - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Education - Year-over-year growth 2022-2027 (%)

• 6.5 Healthcare - Market size and forecast 2022-2027
• Exhibit 42: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 51: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 53: Chart on Comparison by Distribution Channel
• Exhibit 54: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 55: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 59: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 63: Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027
• Exhibit 105: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Alphabet Inc. 
• Exhibit 116: Alphabet Inc. - Overview
• Exhibit 117: Alphabet Inc. - Business segments
• Exhibit 118: Alphabet Inc. - Key news
• Exhibit 119: Alphabet Inc. - Key offerings
• Exhibit 120: Alphabet Inc. - Segment focus

• 12.4 Amazon.com Inc. 
• Exhibit 121: Amazon.com Inc. - Overview
• Exhibit 122: Amazon.com Inc. - Business segments
• Exhibit 123: Amazon.com Inc. - Key news
• Exhibit 124: Amazon.com Inc. - Key offerings
• Exhibit 125: Amazon.com Inc. - Segment focus

• 12.5 Dyson Ltd. 
• Exhibit 126: Dyson Ltd. - Overview
• Exhibit 127: Dyson Ltd. - Product / Service
• Exhibit 128: Dyson Ltd. - Key offerings

• 12.6 Ecovacs Robotics Co. Ltd 
• Exhibit 129: Ecovacs Robotics Co. Ltd - Overview
• Exhibit 130: Ecovacs Robotics Co. Ltd - Product / Service
• Exhibit 131: Ecovacs Robotics Co. Ltd - Key offerings

• 12.7 Gaussian Robotics Pte Ltd. 
• Exhibit 132: Gaussian Robotics Pte Ltd. - Overview
• Exhibit 133: Gaussian Robotics Pte Ltd. - Product / Service
• Exhibit 134: Gaussian Robotics Pte Ltd. - Key offerings

• 12.8 Honda Motor Co. Ltd 
• Exhibit 135: Honda Motor Co. Ltd - Overview
• Exhibit 136: Honda Motor Co. Ltd - Business segments
• Exhibit 137: Honda Motor Co. Ltd - Key news
• Exhibit 138: Honda Motor Co. Ltd - Key offerings
• Exhibit 139: Honda Motor Co. Ltd - Segment focus

• 12.9 Irobot Corp. 
• Exhibit 140: Irobot Corp. - Overview
• Exhibit 141: Irobot Corp. - Product / Service
• Exhibit 142: Irobot Corp. - Key offerings

• 12.10 LG Electronics Inc. 
• Exhibit 143: LG Electronics Inc. - Overview
• Exhibit 144: LG Electronics Inc. - Business segments
• Exhibit 145: LG Electronics Inc. - Key news
• Exhibit 146: LG Electronics Inc. - Key offerings
• Exhibit 147: LG Electronics Inc. - Segment focus

• 12.11 Neato Robotics Inc. 
• Exhibit 148: Neato Robotics Inc. - Overview
• Exhibit 149: Neato Robotics Inc. - Product / Service
• Exhibit 150: Neato Robotics Inc. - Key offerings

• 12.12 Nippon Telegraph and Telephone Corp. 
• Exhibit 151: Nippon Telegraph and Telephone Corp. - Overview
• Exhibit 152: Nippon Telegraph and Telephone Corp. - Business segments
• Exhibit 153: Nippon Telegraph and Telephone Corp. - Key offerings
• Exhibit 154: Nippon Telegraph and Telephone Corp. - Segment focus

• 12.13 Parrot Drones SAS 
• Exhibit 155: Parrot Drones SAS - Overview
• Exhibit 156: Parrot Drones SAS - Product / Service
• Exhibit 157: Parrot Drones SAS - Key offerings

• 12.14 Samsung Electronics Co. Ltd. 
• Exhibit 158: Samsung Electronics Co. Ltd. - Overview
• Exhibit 159: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 160: Samsung Electronics Co. Ltd. - Key news
• Exhibit 161: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 162: Samsung Electronics Co. Ltd. - Segment focus

• 12.15 Ubtech Robotics Inc 
• Exhibit 163: Ubtech Robotics Inc - Overview
• Exhibit 164: Ubtech Robotics Inc - Product / Service
• Exhibit 165: Ubtech Robotics Inc - Key offerings

• 12.16 WowWee Group Ltd. 
• Exhibit 166: WowWee Group Ltd. - Overview
• Exhibit 167: WowWee Group Ltd. - Product / Service
• Exhibit 168: WowWee Group Ltd. - Key offerings

• 12.17 Xiaomi Inc. 
• Exhibit 169: Xiaomi Inc. - Overview
• Exhibit 170: Xiaomi Inc. - Business segments
• Exhibit 171: Xiaomi Inc. - Key news
• Exhibit 172: Xiaomi Inc. - Key offerings
• Exhibit 173: Xiaomi Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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