The Worldwide Personal Robots Industry is Expected to Grow at a CAGR of 7.8% Between 2020 and 2030

Dublin, Nov. 20, 2020 (GLOBE NEWSWIRE) -- The "Personal Robots Market Research Report: By Offering, Type - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

At the present time, the world has become largely dependent on technology, and novel devices are being developed continuously for making the loves of human easier. It is due to this that the demand for personal robots is projected to increase in the coming years. The robotics market has been witnessing significant growth, particularly in the service and private sectors, since the past few years. This can be majorly attributed to the technological advancements.

Owing to these factors, the global personal robots market is projected to grow considerably in the years to come. A major reason leading to the high demand for these robots is their declining prices. Reduced prices of these devices are encouraging more and more people to buy them. The industry has been witnessing 2-9% yearly decline in price. This will further increase the affordability of these robots in emerging economies. Manufacturers are further trying to produce cheaper models for penetrating low-income countries.

These days, manufacturers have further started working on developing personal robots equipped with AI. The technology has enabled personal robots to sense, navigate, and calculate their response on the input received accordingly. The robots learn to perform their tasks from human beings from these responses, via machine learning. Manufacturers are further investing in new technologies for dealing with the rising competition in the domain, which is expected to result in the growth of the market.

The personal robots market is projected to generate a revenue of $51.5 billion in 2030, increasing from $21.5 billion in 2019, progressing at a 7.8% CAGR during the forecast period (2020-2030). On the basis of type, the market is categorized into security robots, personal transportation robots, companion robots, cleaning robots, handicap assistance robots, educational robots, and entertainment & toy robots, out of which, the cleaning robots category held the largest share of the market during the historical period (2014-2019).

These robots are used commonly in households, since they assist in daily chores and make the lives of their owners easier. The acceptance for these robots is further increasing rapidly in emerging countries, owing to their decreasing prices. The companion robots category is predicted to witness the highest CAGR during the forecast period, as they are widely becoming the missing companion in the solitary lives of people. It has been observed that one in every five citizens remains a bachelor in their lives, which is why, the demand for companion robots is predicted to increase in the coming years.

Geographically, the European region held the major share of the personal robots market during the historical period, as per a report by the publisher. The region has already been holding a prominent position in the overall robotics industry, which is why, the demand for personal robots is also high in the region. The Asia-Pacific region is expected to witness the fastest growth during the forecast period.

Key Topics Covered:

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Offering
1.3.2 Market Segmentation by Type
1.3.3 Market Segmentation by Geography
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.3.5.1 Volume
1.3.5.2 Value
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.1.1 Paid
2.1.2 Unpaid
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study

Chapter 3. Executive Summary
3.1 Voice of Industry Experts/KOLs

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Offering
4.1.1.1 Hardware
4.1.1.2 Software
4.1.2 By Type
4.1.2.1 Cleaning robots
4.1.2.2 Entertainment & toy robots
4.1.2.3 Educational robots
4.1.2.4 Handicap assistance robots
4.1.2.5 Companion robots
4.1.2.6 Personal transportation robots
4.1.2.7 Security robots
4.1.2.8 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Open software platform for personal robotics
4.3.1.2 Emergence of personal robots with AI
4.3.1.3 Entry of new companies in personal robots market
4.3.2 Drivers
4.3.2.1 Declining price of personal robots
4.3.2.2 Aging population in developed countries
4.3.2.3 Increasing demand for mobile robots
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Technical complexity coupled with security concerns in personal robots
4.3.3.2 Lack of skilled professionals
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Growing demand for low-cost cleaning robots in developing countries
4.3.4.2 Growing demand for "care-bot" and other robots from Japan
4.4 Impact of COVID-19 on Personal Robots Market
4.4.1 Current scenario
4.4.2 COVID-19 scenario
4.4.3 Future scenario
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitutes

Chapter 5. Global Market Size and Forecast
5.1 By Offering
5.2 By Type
5.3 By Region

Chapter 6. North America Market Size and Forecast
6.1 By Offering
6.2 By Type
6.3 By Country

Chapter 7. Europe Market Size and Forecast
7.1 By Offering
7.2 By Type
7.3 By Country

Chapter 8. APAC Market Size and Forecast
8.1 By Offering
8.2 By Type
8.3 By Country

Chapter 9. LATAM Market Size and Forecast
9.1 By Offering
9.2 By Type
9.3 By Country

Chapter 10. MEA Market Size and Forecast
10.1 By Offering
10.2 By Type
10.3 By Country

Chapter 11. Major Markets for Personal Robots
11.1 U.S. Personal Robots Market
11.1.1 By Type
11.2 Germany Personal Robots Market
11.2.1 By Type
11.3 China Personal Robots Market
11.3.1 By Type

Chapter 12. Competitive Landscape
12.1 List of Players and Their Offerings
12.2 Ranking of Key Players
12.2.1 Global Personal Robots Market Key Players Analysis
12.3 Strategic Developments of Market Players
12.3.1 Mergers & Acquisitions
12.3.2 Product Launches
12.3.3 Partnerships
12.3.4 Geographic Expansion

Chapter 13. Company Profiles
13.1 F&P Robotics AG
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.2 Segway Inc.
13.2.1 Business Overview
13.2.2 Product and Service Offerings
13.3 Neato Robotics Inc.
13.3.1 Business Overview
13.3.2 Product and Service Offerings
13.4 ZMP Inc.
13.4.1 Business Overview
13.4.2 Product and Service Offerings
13.5 iRobot Corporation
13.5.1 Business Overview
13.5.2 Product and Service Offerings
13.5.3 Key Financial Summary
13.6 Ecovacs Robotics Inc.
13.6.1 Business Overview
13.6.2 Product and Service Offerings
13.7 Sony Corporation
13.7.1 Business Overview
13.7.2 Product and Service Offerings
13.7.3 Key Financial Summary
13.8 Honda Motor Co. Ltd.
13.8.1 Business Overview
13.8.2 Product and Service Offerings
13.8.3 Key Financial Summary
13.9 Samsung Electronics Co. Ltd.
13.9.1 Business Overview
13.9.2 Product and Service Offerings
13.9.3 Key Financial Summary
13.10 temi USA Inc.
13.10.1 Business Overview
13.10.2 Product and Service Offerings

Chapter 14. Appendix

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