Counterpoint: Global Consumer Service Robot Market to Grow 25% in 2021

According to the latest report released by Counterpoint, the global consumer-grade service robot market will grow by 25% in 2021. The details are as follows.

Growth was driven by:

  1. Expansion of consumer awareness and preferences;
  2. Technological advancements – especially in artificial intelligence, speech recognition, computer vision;
  3. Offers a wide range of affordable products – the prices of components and software are falling.

Counterpoint senior analyst Anshika Jain said:

  1. Favorable government policies as well as financial support required for industrial development also help drive this segment.
  2. House-cleaning robots, including robot vacuum cleaners, are the most dominant category in the industry, accounting for more than two-thirds of the overall consumer service robot market. The epidemic has increased the demand of home users, which has had a positive impact on the cleaning robot industry.

Peter Richardson, VP of Research at Counterpoint, commented on the evolution and drivers of the consumer service robotics market:

  1. We will see a slight acceleration in this market growth, with shipments expected to grow at a CAGR of 27% between 2021 and 2025, with the personal and educational categories of robots taking the highest share of 54% by 2025.
  2. Growing demand for elderly care (especially in combating loneliness), social protection and new ways for children to learn all present opportunities for growth in this category in the near term.
  3. The ASP (average selling price) for this segment is also expected to drop further, which will make these devices more accessible in the future.
  4. We expect the market opportunity for personal and educational robotics to exceed $4.5 billion by 2025, expected to grow beyond 2025 due to aging populations in many countries and growing focus on STEM (Science, Technology, Engineering and Math)-based learning There is further growth.
  5. Robots developed for these two use cases may have a core set of technologies that can also be widely used in other emerging fields.

Segmenting the Consumer Service Robot Market Segment

  • House Cleaning – The Most Mature
  • Personal and Educational – Highest Near-Term Potential
  • Hospitality – small but one of the fastest growing industries
  • Logistics – shipments remain low due to high deployment costs
  • Healthcare – Still risky as they require large up-front capital expenditures; and unpredictable outcomes of research and development.

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