Report: Consumer Robotics Market to Top $6.5 Billion in 2017
Apr 16, 2013
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The market for consumer robots was $1.6 billion in 2012, dominated by the task and entertainment segments--the same two segments that will dominate the market in the coming years, according to ABI Research. The market research firm expects the market to grow to $6.5 billion in 2017 and will still be dominated by the same segments. Security/telepresence is expected to become more of a significant third segment.
The firm said iRobot is still the main player in the market, while more Asian-based companies are launching competing products and newer products like window-cleaning robots.
"We are seeing more personal robot R&D from Western companies and more task robot development from Asian companies," noted research director Philip Solis, "which is a reversal of past development trends."
Application processors and the array of sensors used in smartphones and media tablets have achieved great economies of scale for components that consumer robotics will leverage. The market for processors, microcontrollers, sensors, and physical components including actuators, servos, and manipulators was a little over $700 million in 2012 and will grow by five times that amount by 2017, according to ABI. The semiconductor portion of that is well over a third and will grow as products become more complex and capable.
While the market for consumer robots is trudging ahead and growing, the lingering stagnant global economy has suppressed its market potential.
There are also some safety concerns holding back the market, such as the additional cost of diverse redundancy for sensors. "What happens if a robot falls down the stairs while someone is walking up, or gets caught on a lamp power cord and pulls the lamp down and starts a fire?" added Solis. "This is a gating factor to take-up of more complex personal robots - solvable but with additional cost."
Additionally, the applications and business models for more general personal robots needs to be worked out. Home eldercare is being targeted first for insurance- and retirement income-related potential.
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