In a recently published report, Household Robots Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Household Robots Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Household Robots Market is valued approximately USD 2.7 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 22.40% over the forecast period 2019-2026. The Household Robots is a type of service robot, that is used for household chores, education, entertainment or therapy. The growth of household robot market is due to the increasing awareness, growing research and development investments, wide range of applications, easy availability and scarcity of skilled workers.
The demand increased in this market is driven by the factors of rapid urbanization & industrialization, and product development & technological innovations. Although the cost structure of this market is too high, but the demand of human-friendly robot make its own pace by neglecting such a high price. While a household robot appears to be useful for many consumers, actually buying one remains a desire, not a need. Since domestic robots have the practical benefit of automating mundane tasks, such as cleaning or mowing, they are expected to contribute to a larger share of the market in the near future. Global Household Robots market report studies historical factors and market influencers, key strategies that helped the market to grow as well as, the ones hampering the market potential.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
The regional analysis of global Household Robots Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia Pacific is the leading region across the world. Increase in investment toward household robots, especially in countries such as China, Japan, and South Korea is driving the market in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising investments wide range of applications, easy availability and scarcity of skilled workers would create lucrative growth prospects for the Household Robots Market across Asia-Pacific region.
Major market player included in this report are:
Irobot
Neato Robotics
Samsung
Ecovacs Robotics
Alfred Karcher
Dyson
LG
Blue Frog Robotics
Lego Group
Deere & Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Offering:
Products
Services
By Type:
Domestic
Entertainment and Leisure
By Application:
Vacuuming
Lawn Moving
Pool Clearing
Companionship
Elderly Assistance and Handicap Systems
Robot Toys and Hobby Systems
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
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Target Audience of the Global Voice Analytics in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1.Executive Summary
1.1.Market Snapshot
1.2.Key Trends
1.3.Global & Segmental Market Estimates & Forecasts, 2016-2026 (USD Billion)
1.3.1.Location Analytic Market, by Component, 2016-2026 (USD Billion)
1.3.2.Location Analytic Market, by Solution, 2016-2026 (USD Billion)
1.3.3.Location Analytic Market, by Number of Paths, 2016-2026 (USD Billion)
1.3.4.Location Analytic Market, by End User, 2016-2026 (USD Billion)
1.3.5.Location Analytic Market, by Region, 2016-2026 (USD Billion)
1.4.Estimation Methodology
1.5.Research Assumption
Chapter 2.Global Location Analytic Market Definition and Scope
2.1.Objective of the Study
2.2.Market Definition & Scope
2.2.1.Industry Evolution
2.2.2.Scope of the Study
2.3.Years Considered for the Study
2.4.Currency Conversion Rates
Chapter 3.Global Location Analytic Market Dynamics
3.1.See Saw Analysis
3.1.1.Market Drivers
3.1.2.Market Challenges
3.1.3.Market Opportunities
Chapter 4.Global Location Analytic Market Industry Analysis
4.1.Porter’s 5 Force Model
4.1.1.Bargaining Power of Buyers
4.1.2.Bargaining Power of Suppliers
4.1.3.Threat of New Entrants
4.1.4.Threat of Substitutes
4.1.5.Competitive Rivalry
4.1.6.Futuristic Approach to Porter’s 5 Force Model
4.2.PEST Analysis
4.2.1.Political Scenario
4.2.2.Economic Scenario
4.2.3.Social Scenario
4.2.4.Technological Scenario
4.3.Key Buying Criteria (On Demand)
4.4.Regulatory Framework (On Demand)
4.5.Investment Vs Adoption Scenario (On Demand)
4.6.Analyst Recommendation & Conclusion
Chapter 5.Global Location Analytic Market, by Component
5.1.Market Snapshot
5.2.Market Performance – Potential Model
5.3.Location Analytic Market, Sub Segment Analysis
5.3.1. Solutions
5.3.1.1.Market estimates & forecasts, 2016-2026 (USD Billion)
5.3.1.2.Regional breakdown estimates & forecasts, 2016-2026 (USD Billion)
5.3.2. Services
5.3.2.1.Market estimates & forecasts, 2016-2026 (USD Billion)
5.3.2.2.Regional breakdown estimates & forecasts, 2016-2026 (USD Billion)
Chapter 6.Global Location Analytic Market, by Solution
6.1.Market Snapshot
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