Global Indoor Robots Market Overview
Indoor Robots Market is estimated to grow at a significant rate during the forecast period from 2019 to 2023
Owing to the emerging trend of industry 4.0, robots have witnessed a vast scope of application within every industrial or factory operation. Advancements in technologies like machine learning and artificial intelligence is observed to transform the way robots collaborate and communicate with humans and other fellow robots. This has also liberated robots from performing repetitive tasks and offered them with roles in domestic as well as commercial applications. Presently, robots serve in every industry vertical including BFSI, retail, military, healthcare, as well as defense. The sale of robots that are meant for domestic services is anticipated to grow by USD 42 million, as compared to the original revenue valuation, between 2016-2019.
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In addition, the total number of professional robots sold in 2015 was 25% more than that of the number of robots sold in 2014. Increasing adoption of robots for domestic tasks such as cooking, assistance in retail shops, engagements with customers in banks, as well as delivery room service are some factors driving the global indoor robots market over the forecast period. Furthermore, elevating capabilities of robot design and development, coupled with the reduction in costs of robots has aided in the proliferation of the global indoor robots market. The development of smaller and more mobile robots has also contributed to the growth of the market, as per the latest report presented by Market Research Future (MRFR).
However, even though the global Indoor Robots Market Share (COVID-19 Impact Analysis) is expected to witness seamless ascension during the forecast period, some factors are hampering such market growth. Elevated cost of medical robots and growing human safety concerns are some of the primary factors restricting the growth trajectory of the global indoor robots market. Alternatively, cloud-based robotics is expected to elevate the indoor robots’ capabilities. This in turn is estimated to facilitate the delivery of required resources such as machine learning, and AI at much lower costs, supplementing market growth.
Key Players
Some notable vendors present in the global indoor robots market include NXT Robotics (US), Toyota (Japan), iROBOT. (US), LG Electronics (South Korea), Savioke (US), Ecovacs (China), ASUSTeK Computer Inc. (Taiwan), Omron Adept Technologies (US), Aeolus Robotics (US), and Aethon (US).
Industry Update
June 2019: Cobalt Robotics recently raised USD 35 million in Series B funding, as per their announcement. This funding was raised to aid in their expansion of offerings of indoor autonomous mobile robots for security, across the domestic US.
Market Segmentation
The global indoor robots market is segmented by robot type, application, and region. Based on robot type, the global indoor robots market is segmented into entertainment, security & surveillance, education & research, personal assistance & public relations, drones, and medical robots. By application, the segments of the indoor robots market, as studied in the scope of this report include commercial, industrial, and residential.
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Detailed Regional Analysis
The global indoor robots market is studied for the regional segments of North America, Europe, Asia-Pacific, and the rest of the world. Among these segments, North America’s indoor robots market is estimated to spearhead the global market during the forecast period. This can be primarily attributable to the presence of well-established economies such as Canada and the US who are investing heavily in the research and development activities in the fields of robots, artificial intelligence, cognitive technologoies, as well as machine learning. Further, elevation in the adoption of robots for domestic and commercial purposes like cooking, cleaning, and medical surgeries is supplementing the growth for the global indoor robots market during the forecast period.
On the other hand, Asia Pacific is estimated to witness significant growth in the indoor robots market over the assessment period. Such ascension is attributable to the rising adoption of robots for the purpose of security and monitoring. Apart from that, rising demand for personal assistance robots for controlling other devices is also leading to higher ascension in the regional market.
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