Global Entertainment Robots Market to Reach USD 54,308.26 Million by 2031 | CAGR of 24.4%
Category : Semiconductor And Electronics | Published Date : Aug 2024 | Type : Press Release
Entertainment Robots Market Scope & Overview:
Entertainment robots are designed to perform tasks such as singing, playing games, and dancing to engage users of all ages. They are used in domestic, education, commercial, and other applications.
Consegic Business Intelligence analyzes that the Global Entertainment Robots Market size was valued at USD 7,729.46 Million in 2022, is projected to grow by USD 9,439.68 Million in 2023, and is expected to register a CAGR of 24.4% to reach USD 54,308.26 Million by 2031.
This report comprises the Entertainment Robots Market Share, Size & Industry Analysis, By Type (Robot Toys, Educational Robots, and Robotic Companion Pets), By Application (Domestic, Education, Commercial, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
This report contains detailed information on Entertainment Robots Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the rising utilization of robots in the educational and commercial sectors is driving the entertainment robots market growth. Entertainment robots are also expected to be used in retail outlets to improve the customers' overall experience.
Segmental Analysis :
The Entertainment Robots market is segmented based on type, application, and region.
Based on the type, the market is trifurcated into robot toys, educational robots, and robotic companion pets.
- The robot toys segment accounted for the highest market share in 2022. This is mainly due to its utilization in domestic and commercial applications because of the interactive and entertaining experience for the users.
- The educational robots segment is expected to register the fastest CAGR over the forecasted period. Due to the rising innovations in educational robots that enable interactive learning and improvised cognitive skills.
Based on the application, the market is segmented into domestic, education, commercial, and others.
- The domestic segment held the largest market share in 2022, mainly due to the rising popularity of children for robots.
- The education segment is expected to register the fastest CAGR during the forecasted period. This is because of the innovative and interactive way of learning a robot can provide in the educational sector. Also, government initiatives promote market trends.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- North America's estimated market size is expected to grow from USD 2,460.29 million in 2022 to over USD 17,492.69 million by 2031, with a projected value of USD 3,007.64 million in 2023. This is driven by the deployment of robots in the commercial and educational sectors.
- The Asia-Pacific region is expected to witness the fastest CAGR of 25.0% over the forecasted period. This is due to rising industrialization and development in the region.
| Report Attributes | Report Details |
| By Type | Robot Toys, Educational Robots, and Robotic Companion Pets |
| By Application | Domestic, Education, Commercial, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Entertainment Robots Industry:
- Sony Corporation
- Hasbro
- Mattel
- KUKA AG
- Modular Robotics Incorporated
- Sphero Inc.
- Blue Frog Robotics
- LEGO Group
- Robobuilder Co. Ltd.
- Toyota Motor Corporation
Recent Industry Developments :
- Sony Corporation upgraded the system software for the AIBO series of robotic dogs in October 2023. The upgrade enables AIBO to exhibit richer behavior while at the charging station.
