The global sales value of the service robots market for personal and domestic use is set to experience significant growth over the next four years. According to research from Statista, this market is expected to increase from $4.3 billion U.S. dollars in 2019 to $10 billion U.S. dollars by 2023. This forecasted growth can be attributed to several factors. Robots in car or electronics manufacturing (for example) and other commercial applications are not considered here. Their commercial versions are said to revolutionize the customer services industry – can the same be said about domestic little helpers?
One key driver is the increasing demand for automated solutions in households worldwide. People who lead increasingly busy lives seek ways to make their homes more efficient and convenient. Service robots offer a way to achieve this goal by taking on cleaning, cooking, and even companionship tasks. Additionally, advancements in technology have made these robots more affordable and accessible than ever before. Another factor contributing to the growth of the sales value of the service robots market is the aging population. According to the BBC, about 40% of all time spent on household work can be automated by robots until 2033!
A Complete Review of Market Sales Value From 2018-2025
Sales Value of Service Robots For Domestic Over Many Years
According to recent reports, the sales value of service robots worldwide has steadily increased in the past few years. In 2018, it was estimated at $3.5 billion and increased to $4.3 billion in 2019. 2020 marked a significant increase, with the sales value rising from $5 billion.
This growth trend is set to continue into 2021, with experts projecting a staggering value of $6.7 billion for service robots globally. This market segment is projected to reach $8.2 billion in 2022 and $10 billion by 2023. This impressive surge can be attributed to many factors, including technological advancements, better manufacturing services and increased demand for automation across various industries.
Sales Value of Entertainment Robots
The entertainment robot industry has risen recently, with global sales value increasing steadily yearly. According to recent data, service entertainment robots’ sales value reached $1.1 billion in 2018, marking a significant increase from previous years. This trend continued into 2019 and 2020, with sales values reaching $1.3 billion and $1.4 billion, respectively.
However, what is truly impressive is the growth rate seen in the following years: by 2021, sales values had exceeded $1.5 billion, followed by an even greater climb in 2022, where it reached $1.7 billion. The upward trend shows no signs of slowing down, as projections indicate that by 2023 global sales value will have reached an impressive $1.9 billion.
Market Segmentation of Robotic Services
Robotic services are the latest trend in modern technology, aimed at assisting humans in performing different tasks. These technical devices come with advanced features and capabilities, allowing them to effectively perform useful functions. Service robots are designed to provide practical solutions for households, businesses, and industries.
The popularly attributed robot is one of today’s most commonly used robotic services. They are mostly used in manufacturing plants, warehouses, hospitals, and other industrial settings where they assist humans in performing repetitive tasks such as lifting heavy loads or assembling products. Also, they have become increasingly popular among households for cleaning floors or mowing lawns.
Besides the above uses, service robots also play a critical role in healthcare systems worldwide by assisting medical professionals during surgeries and helping patients with mobility issues. Here we will discuss the market segmentation of this industry.
Based on Component, Market Segmented in:
- Software
- Hardware
By Product Type, Market Segmented in:
- Personal and Domestic Service
- Professional Service
- Others
Based on Applications, Market Segmented in:
- Logistics
- Construction and Demolition
- Domestic
- Marine
- Medical
- Defense, Rescue, and Security
- Research and Space Exploration
- Entertainment, Educational, and Personal
- Others
Rise in Demands for Robots in Professional & Personal Sectors
The increasing technological innovations in science and tech fields greatly benefit the international service robotics sector. The marketplace’s growth is also accelerated by the increased demand for robots for professional and personal services.
The growing use of robotics in various industries, including healthcare, defense, security, agriculture, forestry, logistics, construction, and personal cleaning, is prompting the robotics market’s growth. A rise in assisting the market for goods and services in labor costs and costs and a focus on reducing human-error incidents. The rising prevalence of technological advancements and growing innovations are expected to ignite market growth in the forecast period.
Greatest Market Shares in the Robotics Industry
Geographically, Asia Pacific accounts for a large part of the global service area robotics industry and is anticipated to dominate the market in the years ahead. Japan, a renowned robotics company, is projected to increase its share in the industry and enhance its technological experience in the coming years. Also Chinese manufacturing companies are increasingly learning how to manufacture simple home use robots. More detailed information about the Chinese consumer market can be found here. Many interesting new quirky little concepts show up on the Chinese consumer market first.
North America and Europe are the primary regions for selling this market. Advanced technologies in these regions have encouraged its growth to unprecedented proportions, raising the opportunities in the years to come.
Wrapping Up
I hope you will enjoy this blog and quickly get essential facts about the sales values of the service robots market for personal and domestic use. We will also discuss the market segmentations and rise in demand factors in professional and personal sectors.
