Machines are often thought of as cold, industrial devices that have little to do with the enjoyment of everyday life. However, according to a recently released report from market intelligence firm Tractica, the consumer market for robots is projected to grow significantly due to rising demand for robots used for more personal use, specifically in the home, as toys, and for educational purposes.
Tractica research analyst Manoj Sahi commented that the consumer robotics market is shifting from cleaning robots into more advanced companions and personal assistants. He continues, saying that, “In addition, robotic toys, which, until now, were largely gimmicks, are transforming into interactive connected play devices that have virtually limitless possibilities, as well as useful educational tools as a part of science, technology, engineering, and math (STEM)-based curriculum.”
This ongoing rising demand has been tied to robotics-focused startups releasing innovative new products while the drop in component costs has led to an overall reduction in prices. Tractica projects that by 2022, consumer robotics sales will exceed 50 million units versus 10 million in 2016, with the total market reaching $13.2 billion.
The report spans from 2016 into 2022, assessing the technology-based issues that influence the market, and detailing 109 emerging and already key industry players.
