Consumer Service Robotics - Southern Asia

Revenue in the Consumer Service Robotics market is projected to reach US$233.50m in 2024.
Domestic service robotics dominates the market with a projected market volume of US$204.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.29%, resulting in a market volume of US$564.00m 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 Southern Asia is experiencing minimal growth due to various factors, including slow adoption of digital technologies, low health awareness among consumers, and limited convenience of online services. This is particularly evident in the sub-markets of Domestic and Entertainment Service Robotics. However, with increasing government initiatives and technological advancements, the market is expected to witness gradual growth in the coming years.

Customer preferences: Consumers in Southern Asia are showing a growing interest in service robotics for household tasks, such as cleaning and cooking, due to the region's increasing urbanization and busy lifestyles. Additionally, the cultural emphasis on hospitality and personalized service is fueling the demand for robots that can assist with tasks in the hospitality and tourism industries. This trend is also driven by the region's aging population, as service robots can provide support and companionship for older adults. Furthermore, the rise of e-commerce and contactless delivery is leading to a demand for last-mile delivery robots in the region.

Trends in the market: In Southern Asia, the Consumer service robotics Market within the Service robotics Market is experiencing a surge in demand for household and personal care robots. This trend is driven by the region's rapidly growing middle class and increasing adoption of smart home technology. Additionally, the COVID-19 pandemic has heightened the need for contactless delivery and assistance, further propelling the adoption of service robots. These developments have significant implications for industry stakeholders, including increased competition and opportunities for innovation in the market.

Local special circumstances: In Southern Asia, the Consumer service robotics Market is influenced by the region's rapidly growing population and rising disposable income. Countries like India and China have a large population of tech-savvy and affluent individuals who are willing to invest in advanced service robotics for household tasks. Additionally, cultural values in these countries place a strong emphasis on hospitality and service, making service robotics a desirable solution for households. However, regulatory challenges and limited infrastructure for robot deployment remain barriers to market growth in this region.

Underlying macroeconomic factors: The Consumer service robotics Market within the Robotics Market is heavily influenced by macroeconomic factors such as technological advancements, consumer spending, and government policies. Countries with strong technological infrastructure and high consumer spending are experiencing significant growth in the market, while countries with weaker infrastructure and lower consumer spending are facing challenges in market penetration. Additionally, government initiatives to promote the adoption of service robotics and investments in research and development are also driving market growth. However, economic downturns and fluctuations in currency exchange rates can have a negative impact on the 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.