Household Robots Market on the Rise, Expected to Reach USD 19.3 Billion by 2027, at a CAGR of 16.0%

December 01 21:37 2023
Household Robots Market on the Rise, Expected to Reach USD 19.3 Billion by 2027, at a CAGR of 16.0%
Household Robots Market
The global Household Robots Market Value is projected to be USD 19.3 billion by 2027, growing from USD 9.2 billion in 2022, at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period.

CHICAGO, Dec 01, 2023 – The global Household Robots Market is experiencing substantial growth, with a projected increase from USD 9.2 billion in 2022 to USD 19.3 billion by 2027, showcasing an impressive Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period. These insights are derived from a comprehensive report by MarketsandMarkets, a leading market research and consulting firm.

Household robots are becoming a need in modern households, providing efficiency and ease in a variety of chores. These robots can be anything from vacuum cleaners and lawn mowers to personal assistants. The market is expected to rise due to a number of factors, including the growing popularity of smart home technologies, developments in robotics and artificial intelligence (AI), and the growing need for automated and time-saving solutions. The study defines major competitors in the worldwide household robots market and examines important categories, growth factors, opportunities, and constraints.

• Informational PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=253781130

Key Segments:

Product Segment: The Household Robots market includes various types of robots, such as vacuum cleaning robots, lawn mowing robots, window cleaning robots, and personal assistant robots, each designed for specific household tasks.

End-User Segment: Household robots cater to various end users, including residential consumers, helping with cleaning, maintenance, and other domestic tasks.

Distribution Channel Segment: The market encompasses different distribution channels, including online and offline retail, contributing to the accessibility and availability of household robots.

Browse 179 market data Tables and 54 Figures spread through 206 Pages and in-depth TOC on “Household Robots Market by Offering, Type, Distribution Channel, Application and Geography – Global Forecast to 2027”

View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/household-robot-market-253781130.html

Household Robots Market

Growth Drivers:

Smart Home Adoption: The increasing adoption of smart home technologies and the integration of household robots into connected ecosystems drive the demand for automated solutions.

Advancements in AI and Robotics: Ongoing advancements in artificial intelligence (AI) and robotics contribute to the development of more sophisticated and capable household robots.

Changing Consumer Lifestyles: Shifting consumer lifestyles, characterized by busier schedules and a focus on convenience, propel the demand for time-saving and automated household solutions.

Challenges:

High Initial Costs: The initial costs associated with purchasing advanced household robots can be a barrier for some consumers, impacting the widespread adoption.

Limited Functionality Concerns: Perceptions of limited functionality and concerns about the ability of household robots to perform complex tasks may influence consumer willingness to invest.

Opportunities:

Expanding Product Range: The introduction of new and innovative household robot products, addressing a broader range of tasks and functionalities, presents opportunities for market growth.

Online Retail Growth: The growth of online retail channels provides an avenue for reaching a wider consumer base and increasing the accessibility of household robots.

Key Players:

The report identifies key players in the global Household Robots market, including:

iRobot Corporation: A leading company in the consumer robot industry, known for its popular Roomba vacuum cleaning robots and Braava floor mopping robots.

Ecovacs Robotics Co., Ltd.: A global player offering a range of household robots, including vacuum cleaning robots, window cleaning robots, and floor cleaning robots.

Dyson Ltd: A technology company known for its innovative household products, including robotic vacuum cleaners equipped with advanced features.

Neato Robotics, Inc.: A manufacturer of smart home robots, specializing in robotic vacuum cleaners designed for efficient cleaning.

Samsung Electronics Co., Ltd.: A multinational conglomerate offering a variety of consumer electronics, including robotic vacuum cleaners and smart home appliances.

The growing integration of robotics and artificial intelligence (AI) into daily life is expected to propel the global market for household robots to extraordinary growth. Household robots are anticipated to proliferate in contemporary homes as they develop further and provide answers to problems encountered on a daily basis.

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