LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global entertainment robots market to grow at a CAGR of more than 20% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global entertainment robots market for 2016-2020. To calculate the market size, the report considers revenue generated from sales and aftermarket services of entertainment robots. Based on types, market is categorized into the following: robotic toys, educational robots, and robotic companion pets.
Technavio industrial automation analysts highlight the following three factors that are contributing to the growth of the global entertainment robots market:
- Boosting STEAM skills in kids
- Advances in technology
- Growing global urbanization
Boosting STEAM skills in kids
Robotic toys teach and reinforce science, technology, engineering, arts, and math (STEAM) skills to children. They teach coding, language, and logical skills, and advanced mathematical concepts. Also, they are designed to encourage children to involve their parents and educators while playing. Parents and trainers appreciate robotic toys as they prepare kids to build critical-thinking, problem-solving, reasoning, and spatial skills. These toys are customized, and can be operated through smartphones, which enhances skills while entertaining the children.
Many companies offer robotic building kits that allow kids and teens to construct their own robot. These kits teach children to follow sequential directions during assembly, and reinforce reading and programming skills in them. “Lego provides Lego Mindstorms that allow kids to create and program robots to walk, talk, think, and perform multiple tasks. Green Science also offers the Dynamo Robot Model kit, which is an eco-friendly hand-crank powered robotic kit that makes kids search for recycled materials in and around their house to build their robots,” says Bharath Kanniappan, a lead analyst at Technavio for research on robotics.
Advances in technology
Improved complementary low-cost technologies – such as sensors for detecting movements, presence, or temperature; cheap microprocessors such as Raspberry Pi and Arduino; powerful batteries, connectivity with smartphones and tablets; quick prototyping by 3D printers; and high speed of 4G handhelds – enhance the operability of the robots, and thus fuel the growth of the global entertainment robots market. As consumers worldwide have easy access to the Internet through smartphones and tablets, vendors offer products that are operated through these smart devices. Technologies like Wi-Fi have also enabled the control of the robots through smart devices.
“Vendors are using sensor technology to make toys more flexible and intelligent. For example, Mattel has developed an interactive dinosaur called Screature that uses infrared sensors and advanced vision systems to sense and attack its prey with the help of the user,” says Bharath.
Growing global urbanization
As the world population is growing and people are moving to urban areas, it will be difficult to afford and give pets (such as cats and dogs) the life they deserve. Animal welfare centers worldwide consider that social animals like dogs and cats should not be locked in a house or apartment alone for most of the time. Pet ownership is likely to be unsustainable in a growing urbanized population. Real pets will become a luxury possession for wealthy people who can afford to sustain their cost and fulfill their needs. The average cost of maintaining a dog is between USD 1,000 and USD 2,000 per year in the US. The cost can increase depending on the food and medical expenses. In contrast to the real pets, Hasbro offers Catbot at USD 99 that can purr, move, and meow like a real feline. Similarly, WowWee provides AI-infused robotic dog that costs USD 200 and plays complex games with its owner.
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