Consumer Service Robotics - APAC | Statista Market Forecast

Revenue in the Consumer Service Robotics market is projected to reach US$7.00bn in 2024.
Domestic service robotics dominates the market with a projected market volume of US$5.13bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.47%, resulting in a market volume of US$12.60bn by 2029.
In global comparison, most revenue will be generated China (US$5.53bn in 2024).

Definition:

The Consumer Service Robotics market covers the market size of service robotics for consumer use, e.g., household and entertainment robots. Consumer robots are usually not big and relatively easy to use. Consumer robots include vacuum cleaners, robotic toys, and drones.

A robot is defined as a powered machine that is programmable on two or more axes and has some degree of autonomy; it moves within its environment to perform its programmed tasks.

Additional information:

The market comprises revenues, volume, average price per new installed robot. The market displays both B2B and B2C revenues, and the revenue is based on the country’s demand for robots. It is shown in manufacturer prices. Software revenues are included as service robots are mostly delivered with software solutions that have been implemented by the manufacturer.

Key players in the market include iRobot, Samsung, and Xiaomi.

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Domestic Service Robotics
Entertainment Service Robotics

Commercial Service Robotics

The APAC Consumer Service Robotics Market is experiencing modest growth due to factors such as increasing adoption of robotics, rising need for convenience, and rising awareness about robotics in the region. The Domestic and Entertainment sub-markets are contributing to this growth, but the overall market growth rate is minimal due to regulatory barriers and high costs.

Customer preferences: In APAC, the increasing trend towards smart homes and connected devices has led to a growing demand for service robots that can assist with household tasks such as cleaning, cooking, and gardening. This is driven by the growing number of dual-income households and the aging population, which values convenience and independence. Additionally, the rise of e-commerce and delivery services has also increased the need for service robots that can efficiently handle last-mile deliveries.

Trends in the market: In APAC, the Consumer service robotics Market of the Service robotics Market within the Robotics Market is experiencing a surge in demand for delivery and logistics robots, driven by the rise of e-commerce and the need for contactless delivery amid the pandemic. This trend is expected to continue as businesses prioritize efficiency and safety in their operations. Additionally, there is a growing interest in home and personal care robots, particularly in Japan and South Korea, as the aging population seeks assistance with daily tasks. This presents opportunities for industry players to develop innovative solutions to cater to this market segment.

Local special circumstances: In APAC, the Consumer service robotics Market within the Robotics Market is experiencing growth due to the region's high adoption of new technologies and the increasing demand for automation in various industries. In Japan, the aging population has created a need for service robots to assist with daily tasks, while in China, the government's support for innovation and the presence of major tech companies have led to a thriving market for service robots. In South Korea, the high demand for service robots in healthcare and education is driven by the country's emphasis on advanced technology and education.

Underlying macroeconomic factors: The Consumer service robotics market is heavily influenced by macroeconomic factors such as technological advancements, consumer spending power, and government initiatives. Countries with a strong focus on innovation and investment in robotics technology, such as Japan and South Korea, are experiencing rapid market growth. On the other hand, countries with weaker economic conditions and limited consumer spending, such as some emerging countries in Southeast Asia, are experiencing slower market growth. Additionally, the increasing adoption of automation and robotics in various industries, such as healthcare and retail, is also driving the growth of the Consumer service robotics market in the APAC region.

Data coverage:

The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.

Modeling approach / Market size:

Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Despite the frightening, almost Terminator-esque, way the phrase “there are robots everywhere” might sound, the increased use of robotics has been a boon to both consumers and enterprises worldwide. The industrial robot market has seen steady growth across the globe and is expected to continue growing as automation becomes ever more vital to businesses. This stems largely from mechanical automation, reducing production costs and improving efficiency. This increased demand due to greater automation, especially in the United States and Europe, is likely to mean that the price increase per robot unit will remain modest.