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Household Robots Market, 2024 - Making Household Robots Affordable and Available Remains a Market ChallengeDUBLIN, July 19, 2019 /PRNewswire/ -- The "Household Robots Market by Offering (Products, Services), Type, Application (Vacuuming, Lawn Mowing, Companionship, Elderly and Handicap Assistance, Robot Toys and Hobby Systems), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering. The Household Robots Market is Expected to Grow from USD 3.3 Billion in 2019 and is Projected to Reach USD 9.1 Billion by 2024; it is Expected to Grow at a CAGR of 22.4% during the Forecast Period Household robots in recent years have witnessed a huge leap in practicality and convenience with the introduction of features such as area or floor mapping and no-go zones. The integration of AI from Amazon (US) and Google (US) has enabled voice activation and smart response for such devices. The usability of household robots, coupled with demand for products to automate household chores like cleaning, is the major driving factor for this market. Data privacy is one of the main restraining factors for such robots. As household robots gain more features such as area mapping and voice control, misuse of user data by the manufacturer or third-party has become a real concern. As the proportion of the ageing population increases worldwide, companionship and elderly assistance robots for home use present a lucrative growth opportunity to the household robot market. Global availability and cost remain one of the major challenges for the market. Household robots market for domestic robots to grow at higher CAGR during forecast period Domestic robots, which include robots for vacuuming, lawn mowing, pool cleaning, and window cleaning applications hold a significantly larger share of the market. Domestic robots are expected to have a higher CAGR compared with entertainment and leisure robots, a few of which include robot toys and hobby systems, companionship, and elderly and handicap assistance robots. Since domestic robots have the practical benefit of automating household chores, they have a greater demand in the market compared with entertainment and leisure robots. Vacuuming and lawn mowing applications contribute the most to the growth of domestic robots. Products such as companionship robots are not as widely used when compared with domestic robots. Handicap systems such as exoskeletons are used more often in rehabilitation centers rather than at homes due to their high costs. These are the key factors leading to the slow growth of entertainment and leisure type robots. The market for lawn mowing application to grow at highest CAGR from 2019 to 2024 Lawn mowing application is expected to register the highest growth among all household robots and is expected to have the second-largest market share, in terms of value, by 2024. It is expected that traditional lawnmowers will be replaced by robotic lawnmowers. Improvement of robotic lawn mowers by introducing features such as silent operation and provision for adjusting grass cutting height or speed is contributing to growth in their adoption rate. Software improvements and new features have been the major development areas for robotic lawnmowers just as for robotic vacuums, with features such as rain-sensing, scheduling, area mapping, and no-go zones, remote accessibility through smartphones, and motion detection. The market in APAC to grow at highest CAGR during forecast period AAC is expected to dominate the household robot market during 2019-2024. Regional manufacturers of household robots in China and Japan coupled with the growing popularity of various household robots, especially in China, are contributing to the high growth in APAC. Penetration and sales of household robots in the APAC region are strongly correlated with the economic strength of the countries in this region. Countries such as China and South Korea are leading the growth in the APAC region. These countries have strong regional players as well as customers who are willing to purchase these products. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Household Robots Market, By Offering 7 Household Robots Market, By Type 8 Household Robots Market, By Application 9 Geographic Analysis 10 Competitive Landscape 11 Company Profiles For more information about this report visit https://www.researchandmarkets.com/r/pun7of About ResearchAndMarkets.com Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/household-robots-market-2024---making-household-robots-affordable-and-available-remains-a-market-challenge-300887973.html SOURCE Research and Markets |