Consumer Service Robotics - Taiwan

Revenue in the Consumer Service Robotics market is projected to reach US$85.58m in 2024.
Domestic service robotics dominates the market with a projected market volume of US$68.67m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 26.62%, resulting in a market volume of US$278.50m 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 Taiwan is experiencing steady growth due to factors such as increasing awareness of the benefits of robotics, rising demand for convenience and efficiency, and the growing adoption of digital technologies. However, the market is facing a minimal decline in growth rate, possibly due to factors such as limited consumer acceptance and high initial costs.

Customer preferences: The rise of smart home technology and virtual assistants has led to a growing demand for consumer service robotics in Taiwan. With the increasing reliance on technology and automation in daily life, consumers are looking for convenient and efficient solutions for household tasks and personal assistance. This trend is also driven by the aging population in Taiwan, as service robots can provide support for elderly individuals and their caregivers. Additionally, the COVID-19 pandemic has accelerated the adoption of service robots in the consumer market, as they offer contactless interactions and reduce the risk of virus transmission.

Trends in the market: In Taiwan, the Consumer service robotics Market of the Service robotics Market within the Robotics Market is seeing a surge in demand for delivery robots, especially in the food and hospitality industries. This trend is driven by the increasing emphasis on contactless services and the need for efficiency in a post-pandemic world. As a result, companies are investing in advanced navigation and obstacle avoidance technologies for their robots. This trend is expected to continue, with potential implications for industry stakeholders such as increased market competition and a shift towards automation in service industries.

Local special circumstances: In Taiwan, the Consumer service robotics market is heavily influenced by the country's strong manufacturing industry and advanced technological capabilities. The government's push for smart manufacturing and the adoption of Industry 4.0 principles has led to the widespread use of service robots in industries such as electronics, automotive, and healthcare. Additionally, the country's aging population and high labor costs have also contributed to the rise of service robotics in healthcare and elderly care sectors. The market is further driven by the increasing demand for personalized and efficient services, as well as the cultural preference for automation and technology.

Underlying macroeconomic factors: The Consumer service robotics market in Taiwan is influenced by macroeconomic factors such as technological advancements, consumer spending habits, and government policies. With the rise of digitalization and automation, the demand for service robots is increasing in Taiwan, leading to market growth. In addition, favorable government initiatives and investments in the development of service robotics are further driving market expansion. The increasing adoption of service robots in various industries, such as healthcare, retail, and hospitality, is also contributing to market growth. Furthermore, the growing aging population in Taiwan is creating a need for service robots to assist with tasks and improve the quality of life for the elderly.

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.