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CONSUMER ROBOTICS MARKET SIZE, SHARE, TRENDS, DEMAND AND GROWTH FORECAST TO 2023

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 consumer robotics market 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.
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.

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