Dan's Biz Bookshelf: 'Getting Naked: A Business Fable'
The Chemical Connection: Common Misconceptions in Wet Processing
It’s Only Common Sense: Selling to Engineers
Global Personal Robot Market to Witness 37.8% CAGR
April 14, 2016 | PRNewswireEstimated reading time: 1 minute
The global personal robot market is expected to grow at a CAGR of 37.8% during 2016-2022. Among the various types, the cleaning robot segment including, robotic vacuum cleaners, robotic pool cleaners, robotic lawn movers and robotic gutter cleaners accounted for largest share in the global personal robot market in 2015. The growing demand of 'care-bot' from aging population, in addition to the growth of artificial intelligence is expected to boost the demand of personal robot during the forecast period.
Cleaning robots accounted for more than half share of the global personal robot market in 2015. The robot companion/assistants are also expected to witness a considerable growth during the forecast period, owing to the rapid growth of mobile robot, along with decreasing average selling price of personal robots. During the forecast period, a significant product innovation is expected in the global personal robot market. The recent technical advancement in multi-tasking robots, such as humanoids is expected to drive the growth of the global market during the forecast period.
Due to the availability of open software platform for personal robotics, many IC and smart phone vendors, such as Intel Corporation and Xiaomi Inc., have entered in the global market during the recent years. This is expected to drop down the average selling price (ASP) of the personal robot during the forecast period. The affordability of personal robot is expected to be a major factor behind the growth of its market t in the developing countries during the forecast period.
The lack of appropriately skilled robot designers, along with the technical complexity in human-robot interference is hindering its growth in critical personal applications such as handicap assistance. The life style change in addition to increasing disposable income of people in the developing countries of Asia-Pacific is expected to drive the growth of the personal robot market during the forecast period.
Some of the major companies operating in the global personal robot market include Honda Motor Co. Ltd., Sony Corporation, Samsung Electronics Co. Ltd., F&P Robotics AG, ZMP INC., Segway Inc., Neato Robotics Inc., Ecovacs Robotics Inc., Hasbro Inc., and iRobot Corporation.
Share on:
Suggested Items
DuPont Reports First Quarter 2025 Results
05/02/2025 | PRNewswireDuPont announced its financial results for the first quarter ended March 31, 2025.
KLA Reports Fiscal 2025 Q3 Results
05/02/2025 | PRNewswireKLA Corporation announced financial and operating results for its third quarter of fiscal year 2025, which ended on March 31, 2025, and reported GAAP net income of $1.09 billion and GAAP net income per diluted share of $8.16 on revenues of $3.06 billion.
Alternative Manufacturing Inc. (AMI) Appoints Gregory Picard New Business Development Manager
05/01/2025 | Alternative Manufacturing, Inc.Alternative Manufacturing Inc. (AMI) is pleased to announce the appointment of Mr. Gregory Picard as our new Business Development Manager. Picard brings a wealth of experience in Sales and Business Development, having worked with some of the most prominent names in the industry.
Ensuring a Strong and Reliable Supply Chain
04/30/2025 | Marcy LaRont, PCB007 MagazineKelly Davidson, vice president of NCAB Group USA, discusses the company's stable performance in 2024 and positive outlook for 2025. She highlights NCAB's strategy of organic growth and strategic acquisitions amidst tariff concerns and global political uncertainty. Kelly emphasizes the importance of supply chain diversification, strong supplier relationships, and customer education, and notes NCAB's focus on defense production and maintaining a reliable supply chain.
2024 Global Semiconductor Materials Market Posts $67.5 Billion in Revenue
04/29/2025 | SEMIGlobal semiconductor materials market revenue increased 3.8% to $67.5 billion in 2024, SEMI, the global industry association representing the electronics design and manufacturing supply chain, reported in its Materials Market Data Subscription (MMDS).