Market Overview:
The global indoor robots market is garnering significant traction. The market growth attributes to the advancements in technologies such as AI and machine learning, transforming capabilities of robots to communicate and collaborate with humans and other fellow robots. Besides, the increasing trend of industry 4.0 creates a vast market demand, increasing the usages of robots for almost every industrial or factory operation.
Moreover, the rising adoption of indoor robotics in domestic and commercial applications escalates market growth. According to Market Research Future (MRFR), the global Indoor Robots Market is projected to garner exponential accruals by 2023, growing at an impressive CAGR throughout the review period (2018 – 2023). Today, robots serve almost every industry vertical, including retail, BFSI, healthcare, military & defense, etc.
Additionally, reduced prices of robots and increased development of smaller & mobile robots influence the growth of the indoor robots market. Also, the increasing demand for improved security services, and growing need for medical robots, boosts the market growth. Furthermore, the growing trend of smart or connected homes plays a significant role in the development of the market. Moreover, growing applications and adoption of autonomous warehouse and logistics industry verticals accelerate the market growth.
With the rapid technological advancements in the field, the number of indoor robot applications in manufacturing and production processes is continually growing. Conversely, the high cost of these robots and human safety concerns are the major factors projected to hamper the market growth. Nevertheless, the increasing trend of automation in production and manufacturing processes would support the market growth throughout the review period, speeding up the development of industrial robots.
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Indoor Robots Market – Segmentation
The segmental inquiry of the indoor robot market is conducted on the basis of robot type, region, and applications. Based on the robot type, the indoor robot market is segmented into personal assistance & public relations, medical robots, education & research, entertainment, security & surveillance, drones, and others. Based on the applications, the indoor robot market is segmented into residential, industrial, and commercial. On the basis of regions, the indoor robot market is segmented into Europe, Asia-Pacific, North America, and the other regions.
Global Indoor Robots Market – Regional Analysis
The regional examination of the indoor robots market is conducted for regions such as Europe, Asia-Pacific, North America, and the other regions. The North American region is anticipated to control the market throughout the forecast period. The most important factor powering the augmentation of the indoor robot market in this region is fixed economies like the US, and Canada, which are devoting a large share of capital on research and development of robotics, machine learning, AI, and cognitive technologies. Besides, the mounting implementation of robots for domestic & commercial purposes such as cooking, cleaning, medical surgeries, and others is another reason motivating the development of the indoor robot market. The region of Asia-Pacific is projected to develop at a momentous rate due to rising approval of robots for security & monitoring purposes and escalating demand for personal assistant robots to manage other devices or carry out any task.
Key Players
The prominent players in the Indoor Robots Market are NXT Robotics (US), Toyota (Japan), iROBOT. (Ticker: IRBT) (US), LG Electronics (South Korea), Savioke (US), Ecovacs (China), ASUSTeK Computer Inc. (Taiwan), Omron Adept Technologies (US), Aeolus Robotics (US), and Aethon (US).
Other players include Simbe (US), Cobalt Robotics (US), pal-robotics.com (Spain), Moley Robotics (UK), Cafe X Technologies, Inc. (US), and Riken (Japan), among others.
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