LONDON--(BUSINESS WIRE)--The robotics market in personal and homecare sector is poised to grow by USD 1.93 billion during 2020-2024, progressing at a CAGR of over 76% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Robotics Market in Personal and Homecare Sector Analysis Report by Product (Companion robots and Emotional therapy robots), and Geography (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024."
The market is driven by the emergence of low-price robotic solutions. In addition, the growing use of artificial intelligence is anticipated to boost the growth of the robotics market in personal and homecare sector.
With the increasing popularity of the robotics market in personal and homecare sector, vendors have come up with physical embodiments that are autonomous, interactive, and communicative. The advent of artificial intelligence has enabled these machines to understand human emotions and interact in a real-time environment. Moreover, vendors are developing low-cost companion and emotional therapy robots to meet the growing demand and to make the products affordable for more users. For instance, Blue Frog Robotics presented Buddy at USD 749, which has sophisticated hardware and software that provide intelligence in the robot. The robot is integrated with artificial intelligence and is capable of understanding the commands given by users. The robot assists people by reminding them about doctors' appointments, exercise and meditation schedules, and many more. Thus, the emergence of low-price robotic solutions is expected to drive the growth of the market.
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Major Five Robotics Market in Personal and Homecare Sector Companies:
Blue Frog Robotics SAS
Blue Frog Robotics SAS offers smart robots for personal and home purposes. The company offers a smart advanced personal robot; Buddy, which offers personal assistance, security, touch control, mobility assistance, remote ready, edutainment, emotional, and multimedia features.
F&P Robotics AG
F&P Robotics AG has business operations under two segments namely products, and solutions. The company offers personal robot, Lio designed to provide relief care personnel from repetitive tasks. Other personal robot offerings include P-Rob and Barney.
Jibo Inc. offers social robots for personal and homecare purposes. The company’s product offerings include Jibo, a social robot for personal and homecare purposes. The robot using Natural Language Understanding interacts and communicates with the people around.
LG Electronics Inc.
LG Electronics Inc. operates its business through various segments, such as home appliance & air solution, home entertainment, mobile communications, vehicle components, business-to-business, and LG Innotek. The company’s key offerings include LG HOM-BOT Turbo+ Robotic Smart Wi-fi Enabled Vacuum, which is an intelligent robotic vacuum equipped with Wi-fi capabilities, and it can be controlled with a smartphone.
PARO Robots US Inc.
PARO Robots US Inc. offers an advanced interactive robot, PARO Therapeutic Robot. The product is an advanced interactive robot developed by AIST, a Japanese industrial automation pioneer. The product provides the benefits of animal therapy to be administered to patients in environments such as hospitals and extended care facilities where live animals present treatment or logistical difficulties.
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Robotics Market in Personal and Homecare Sector Product Outlook (Revenue, USD Billion, 2020-2024)
- Companion robots
- Emotional therapy robots
Robotics Market in Personal and Homecare Sector Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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