Sunday, May 26, 2024

Report: Consumer robotics market to hit $17 billion in 2025

According to research findings by ABI Research, the consumer robotics market is set to close out 2015 at 33 million shipments with total revenues of $3.5 billion.

Credit: wikipedia
Credit: wikipedia

By 2025, both shipments and revenues are expected to dramatically increase, with ABI Research forecasting total shipments to increase to 165 million and total revenue to more than quadruple, reaching $17 billion.

?In 2015, robotic toys accounted for more than half of the year?s total shipments, but consumer UAVs (unmanned aerial vehicles) is proving to be the fastest growing segment over the next decade,? said Phil Solis, research director at ABI Research.

?We anticipate consumer UAVs including toy UAVs to surpass robotic toys in terms of shipment share in a few years and then to account for more than half of consumer robotics product shipments by 2021.?

Additionally, data findings suggest that, throughout the ten-year forecast, the homecare segment will remain the most powerful in terms of revenue generation.

In 2020, consumer UAVs will surpass robotic toys to take second place. By 2025, personal robots will also surpass robotic toys to take third place in revenue generation among segments.

?Right now, the personal robots coming to market are stationary, embodied products that can successfully interface with users and leverage information and services in the cloud,? continued Solis.

?As these products advance in their technological capabilities and grow from stationary to mobile and add manipulation, average product prices will rise at times. So, though unit volumes will be relatively small in comparison to other market segments, the personal robotics segment will generate a generous amount of revenue and increase its revenue share.?

The consumer robotics market, as a whole, covers a wide range of companies that lead in different segments. These include iRobot, Samsung, LG, Hasbro, WowWee, Parrot, DJI, 3D Robotics, Jibo, Blue Frog, and hundreds of others.

ABI Research?s robotics analysts, who predicted the rise of consumer UAVs in 2012 when the segment was in its infancy, find many component suppliers are starting to dedicate resources specifically to multiple segments in the consumer robotics market — most notably Qualcomm.


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