Entertainment Robots Market Overview:
The invention of robots has not only ease human beings work but also provided a medium of entertainment. Robot toys can simulate sadness, laughter and other emotional simulation. There are animatronics robots that entertain people at different festivals and amusement parks. There are humanoid robotic toys which are usually comprised of two legs, there are robotic dog toys. Robot toys form a large part of all entertainment robots.
The consumer, these days has become smart enough to understand the technology and the specifications that it can achieve, turning out to be one of the factor that adds to the growth of the robot market. Most of household, in many of the developed countries like the U.S., the U.K, China, India, Japan, and Germany among others have both father and mother in a working industry, and can hardly take time to interact, teach and play with their children. The modern lifestyle is one of the factor, enterprise are adopting the artificial intelligence technology, so that children and play, learn and have a companion.
Introduction of robots in day to day life has led to rapid growth opportunities for the entertainment robot sector. Market Research Future, a firm which specializes in market reports related to the Information and Communications Technology sector among others, published in its recent report on Entertainment Robots Market Research Report- Global Forecast 2023 that the sector will witness a CAGR of 21% and growth valued at USD 20 Billion by 2023.
Diversification of consumer preference has led to the introduction of various kinds of robots in different aspects of life. Robots in present times are being employed to suit various profiles and needs, where humans can possibly benefit from involvement by robots. Many robots are being used to address needs like care of elderly people, in demonstrations by car manufacturers at trade shows, in amusements parks etc. to name a few of the possible applications. Entertainment Robots Market The sector has huge scope for progress and is growing at a steady pace in line with the innovations that are being observed in the sector.
Major Key Players:
The prominent players in the entertainment robots market are Hasbro, Inc. (U.S.), Mattel, Inc. (U.S.), Sphero (Hong Kong), WowWee Group Limited. (Hong Kong), Aldebaran Robotics (Japan), Blu Frog Robotics (France). Some of the other key market players are Modular Robotics (U.S.), Robo Builder (South Korea), Robotics Inc. (U.S.), Toshiba Machine Co. Ltd (Japan), Sony Corporation (Japan) among others.
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Entertainment Robots Market Regional Analysis:
The regional analysis of entertainment robots market is divided into region such as Asia Pacific, Americas, Europe and Rest of the World.
The North America region is the leader in entertainment robots market because of the advancement in technology and implementation of artificial intelligence in developing robots. The other factor driving growth in North America region is increased adoption of robots in school and colleges.
Entertainment Robots Market Competitive Analysis:
With the entry of new industry players in the entertainment robots segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points.
The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
Latest Industry News:
Aug 2017 Barber Motorsports Park and race promoter ZOOM Motorsports are merging the high-tech world of INDYCAR racing with the high-tech world of robotics as for the first time, Honda’s humanoid robot ASIMO will serve as grand marshal at the Honda Indy Grand Prix of Alabama presented by America’s First this weekend ASIMO is the world’s most advanced bipedal humanoid robot, designed by Honda for humans requiring assistance with their daily lives. ASIMO has previously entertained people around the United States, while showcasing its innovative technology, including ringing the opening bell on the New York Stock Exchange among its other appearances.
Nov 2017 Bossa Nova Robotics just raised $17.5 million to help it build out its line of inventory-scanning retail robots. The funding round comes following a deal the startup inked with Walmart last month that will put Bossa Nova’s automated store clerks in 50 of the big-box chain’s stores. Investors behind the round include Intel Capital, WRV Capital, and Lucas Venture Group. The news brings Bossa Nova’s total funding to date to $41.7 million.
Dec 2017 Blue Frog Robotics, the creator of “BUDDY” which is one of the most advanced home, education and entertainment robots, formalized a new round of funding that was finalized last November. The round was led by Fenox Venture Capital. BUDDY has been receiving strong interest not only from Europe, but also from all over the world. Fenox Venture Capital has connected Blue Frog Robotics with some of its corporate limited partners, such as Sega Sammy Holdings, a multinational video game developer and publisher, and CAC Holdings, a system development and integration company from Japan. The funding will be used for the industrialization and market launch of BUDDY robots in 2018.
Nov 2017 Sony, the Japanese electronics firm, a pioneer in home robotics, announced that after more than a decade its robot canine pal will return to shelves with artificial intelligence-infused upgrades. Aibo is an ivory-white, puppy-sized, 30 centimetre plastic-covered hound with flapping black ears and a wagging tail. It is billed as a pet that behaves like a real dog, except it uses AI, not canine instinct, to learn and interact with its owner and surroundings.
Nov 2017 Matatalab Co., Ltd. has announced that the launch of it has achieved 110% of its Kickstarter goal within the first 24 hours. Matatalab Co., Ltd is young start-up company, founded in early 2017 by a team of four robot developers who are aiming to provide an equal opportunity learning experience for children through simple logic and robotics.
Dec 2017 Toymaker Hasbro and scientists at Brown University have received a three-year, $1 million grant from the National Science Foundation to find ways to add artificial intelligence to Hasbro’s ‘‘Joy for All’’ robotic cat. The cat, which has been on the market for two years, is aimed at seniors and meant to act as a ‘‘companion”.
The Brown-Hasbro project is aimed at developing additional capabilities for the cats to help older adults with simple tasks. Researchers at Brown’s Humanity-Centered Robotics Initiative are working to determine which tasks make the most sense, and which can help older adults stay in their own homes longer, such as finding lost objects, or reminding the owner to call someone or go to a doctor’s appointment.
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Entertainment Robots Market Segments:
The entertainment robot market is categorized on the basis of product and region.
On The Basis Of Product: Robot Toys, Educational Robots and Robotic Companion Pets
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.
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