Home Development Consumer robotics hardware revenues: US$23b annually by 2022, domestic robots to dominate

Consumer robotics hardware revenues: US$23b annually by 2022, domestic robots to dominate

Domestic aide obots will not only be helping humans, but will be helping the industry grow from US$6.4 billion this year to US$23 billion annual by 2022, an increase of more than 250%.

The latest study from the analytical research gurus at Juniper Research is entitled "Consumer Robotics: Sector Analysis, Leading Innovators & Emerging Opportunities 2018-2022," and, as always, is on sale to relevant parties at relevant prices.

The research found that "domestic-aide robots, such as robotic vacuum cleaners, will account for 73% of total revenues by 2022. This will be due to increasing popularity of such devices from iRobot, Dyson and Samsung. These have been joined by lower cost devices, which will broaden the segment’s appeal".

So, what are the three segments offering the greatest potential?

We're told that Juniper’s study examined "key consumer segments disrupted by robotics; analysing metrics such as expected user benefits, barriers and ecosystem readiness. Identifying three segments where robotics will have the greatest revenue potential":

  • Educational
  • Domestic-aide
  • Toys

The research also found that, "despite the popularity of domestic-aide robots, the biggest growth area of consumer robotics will be in the educational area; representing an average annual growth of 40% in hardware revenues.

"Companies such as Anki and Wonder Workshop are joining established players like LEGO in providing robotics focused on programming."

Juniper also predicted that "programming will become desirable in toys, as parents focus on educational benefits".

Research author Nick Maynard explained: “With the disruption that AI and the changing nature of work will bring worldwide, STEM (Science, Technology, Engineering and Mathematics) education will be more important than ever. Educational robotics is a brilliant way for parents to make these subjects engaging in the home.”

What about consumer healthcare robots? Juniper says they'll "struggle".

Juniper's research found that "healthcare robotics’ success will be more constrained. Long-term, these robots are expected to act as home carers; however, issues like cost and dexterity need further innovation before that is achievable".

"As such, telepresence robots, with the ability to facilitate remote medical appointments will remain dominant medium-term. This limited functionality means the segment will grow at a lower CAGR of 24% to reach $422 million in revenues by 2022."

As per usual, Juniper has a complimentary white paper dubbed "Consumer Robotics: From Aide to Educator," with more information designed to tempt relevant customers into acquiring the full research.

Related: Robot Vacuum Reviews: Ecovacs Deebot OZMO 930

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

 

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