Consumer Service Robotics - Central & Western Europe

Revenue in the Consumer Service Robotics market is projected to reach US$2.73bn in 2024.
Domestic service robotics dominates the market with a projected market volume of US$2.14bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.56%, resulting in a market volume of US$6.66bn 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 Consumer service robotics market in Central & Western Europe is experiencing steady growth, driven by factors such as increasing adoption of robotics technology, growing demand for convenience in services, and rising awareness of the benefits of service robotics. However, the market's growth rate is currently facing a minimal decline, potentially due to factors such as economic uncertainty and limited availability of skilled labor. These challenges may impact the market's growth rate in the future, but the overall outlook for service robotics in the region remains positive.

Customer preferences: In Central & Western Europe, there is a growing trend towards incorporating service robots in consumer-facing industries such as retail, healthcare, and hospitality. This is driven by the region's aging population and increasing demand for automated and efficient services. Additionally, there is a cultural preference for self-service and technology-driven solutions, making service robotics a natural fit for the market. As consumers become more accustomed to interacting with robots, companies are investing in advanced capabilities such as natural language processing to further enhance the customer experience.

Trends in the market: In Central and Western Europe, the Consumer service robotics Market of the Service robotics Market within the Robotics Market is experiencing a rise in demand for robotic assistants in various industries such as retail, hospitality, and healthcare. This trend is driven by the need for automation and cost savings, as well as the increasing focus on enhancing customer experience. With the advancements in artificial intelligence and machine learning, these robots are becoming more sophisticated and capable of performing complex tasks. This trend is expected to continue in the future, with potential implications for industry stakeholders such as increased efficiency, improved customer satisfaction, and potential job displacement.

Local special circumstances: In Central and Western Europe, the Consumer service robotics Market is driven by the region's high demand for advanced technology and automation in various industries, such as healthcare, retail, and hospitality. Moreover, the region's strict regulations regarding labor costs and safety standards have further accelerated the adoption of service robots. In countries like Germany and France, the aging population has also created a need for robotic solutions in healthcare and home assistance, driving the growth of the Consumer service robotics Market.

Underlying macroeconomic factors: The Consumer service robotics Market of the Service robotics Market within the Robotics Market is also affected by macroeconomic factors such as technological advancements, consumer spending, and government policies. Countries with strong innovation cultures and high levels of consumer adoption of technology are experiencing faster market growth compared to regions with limited technological advancements and low consumer confidence. Additionally, the increasing demand for automation and personalized service offerings in the retail and hospitality industries is fueling the growth of the consumer service robotics market in Central & Western Europe.

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.