Domestic Service Robotics - China

Revenue in the Domestic Service Robotics market is projected to reach US$4.00bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.86%, resulting in a market volume of US$8.00bn by 2029.
In global comparison, most revenue will be generated China (US$4.00bn in 2024).

Definition:

The Domestic Service Robotics market covers the use of robots that autonomously perform household tasks. One of the most common use cases is cleaning robots, such as robotic vacuum cleaners. However, these robots can also range from security to pet feeding.

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, and the 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, Hanson Robotics, and Sony Corporation.

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Robot vacuum cleaners
Robot lawn mowers

Robot pet feeder
Robot home security devices

The Consumer service robotics market in China nan has seen minimal growth due to factors such as slow adoption of robotics technology, lack of awareness among consumers, and limited convenience of online services. However, with the increasing demand for domestic service robots, the market is expected to experience significant growth in the coming years.

Customer preferences: In China, the Domestic Service Robotics Market is experiencing a rise in demand due to the cultural preference for household efficiency and convenience. This trend is further fueled by the country's aging population, which is driving the need for robotic assistance in domestic tasks. Additionally, the increasing adoption of smart home technology and the emergence of the "smart home as a service" model are also contributing to the growth of the Domestic Service Robotics Market in China.

Trends in the market: In China, the Domestic Service Robotics Market is experiencing a surge in demand due to the aging population and increasing labor costs. As a result, there is a growing trend of using household robots for tasks such as cleaning, cooking, and companionship. This trend is expected to continue as the Chinese government promotes the use of service robots to boost productivity and address labor shortages. Additionally, the rise of e-commerce in China has led to an increase in demand for delivery robots, further driving growth in the Consumer service robotics Market. These trends have significant implications for industry stakeholders, as they will need to adapt to the changing market demands and invest in R&D to develop advanced and affordable domestic service robots.

Local special circumstances: In China, the Domestic Service Robotics Market in the Consumer service robotics Market of the Service robotics Market within the Robotics Market is heavily influenced by the country's aging population and rapid urbanization. This has led to a demand for elderly care and household assistance robots, as well as the development of smart homes and cities. Additionally, China's strict regulations on foreign ownership have allowed local companies to dominate the market, fostering a unique competitive landscape.

Underlying macroeconomic factors: The Domestic Service Robotics Market in the Consumer service robotics Market of the Service robotics Market within the Robotics Market is impacted by several macroeconomic factors in China. The country's strong economic growth and rising disposable income have increased the demand for consumer service robots, particularly in the domestic sector. Additionally, favorable government policies and initiatives to promote the adoption of robotics technology in various industries, including healthcare and manufacturing, are driving the growth of the service robotics market in China. Furthermore, the country's aging population and increasing labor costs are also fueling the demand for domestic service robots to assist with household tasks and caregiving. These factors are expected to continue driving the growth of the Domestic Service Robotics Market in China's Consumer service robotics Market in the Service robotics Market within the Robotics Market.

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.