Entertainment Robots Market Highlights:
Entertainment robots are robots made for human entertainment. Rather than being used in civil or industrial applications, entertainment robots are designed to fulfill various needs of individual humans. As a result, entertainment robots are usually more anthropogenic than industrial robots. The global entertainment robots market is expected to exhibit a strong 23.06% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global entertainment robots market was valued at USD 1,130 million in 2017 and is expected to reach a valuation of USD 3,715 million by 2023.
The growing demand for robotic companion pets and robotic toys is expected to be a major driver for the global entertainment robots market over the forecast period. The growing geriatric population around the world has driven the demand for robotic companion pets. Entertainment Robots Market companion pets serve as companions as well as helpers to geriatric individuals, performing manual tasks that the individual may find difficult due to age as well as integrating with electronic medical services to remind the individual about their medication.
The growing demand for robotic toys and educational robots is also expected to be a major driver for the global entertainment robots market over the forecast period. Educational robots are used in various applications in the education sector, to facilitate easier and more entertaining transmission of knowledge. The growing disposable income of parents in developed countries has also driven the demand for robotic toys. This is likely to be a major driver for the global entertainment robots market over the forecast period, as the geriatric population is likely to grow steadily over the forecast period and educational institutions are likely to encourage increased adoption of innovative media that make the teacher’s job easier.
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Leading players in the global entertainment robots market include Lego, Sony Corporation, Robobuilder, Modular Robotics, Bluefrog Robotics, Sphero, Mattel Inc., Hasbro Inc., and Kuka AG.
In June 2019, Boston Dynamics presented several toy robot innovations, including robot dogs that could participate in dogfights and robotic implements that can participate in other, less violent sports. Such applications of entertainment robots are likely to remain highly popular over the forecast period, as the consumer electronics and gaming industries are increasingly catering to high-income consumers able to afford the most advanced technological innovations. The gaming industry could also emerge as a major end use avenue for the entertainment robots market over the forecast period.
In March 2018, Hasbro and The Autism Project teamed up to develop robotic tools to make play more accessible to children with developmental disabilities.
The global entertainment robots market is segmented on the basis of product type, end use, and region.
- By product, the global entertainment robots market is segmented into educational robots, robot toys, and robotic companion pets.
- By end use, the global entertainment robots market is segmented into media, education, retail, and others.
Asia Pacific is likely to dominate the global entertainment robots market over the forecast period. The market was valued at USD 506.48 million in 2017 and is expected to rise to a valuation of USD 1,821.78 million by 2023. China is likely to play a leading role in the growth of the entertainment robots market in Asia Pacific over the forecast period due to the rapid development of robotics technology in the region and the growing demand for consumer electronics based on robotic technology. The rapid development of artificial intelligence technology in Asia Pacific is also likely to be a major driver for the entertainment robots market in the region over the forecast period. The Asia Pacific market is also likely to account for the highest growth rate over the forecast period, with the region expected to exhibit a strong 23.78% CAGR.
North America is likely to follow Asia Pacific in the global entertainment robots market, growing at a CAGR of 21.04% over the forecast period. North America is a global leader in terms of robotic technology development, leading to strong prospects for the entertainment robots market in the region over the forecast period.
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- Robot Manufacturers
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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List of Tables
Table 1 Entertainment Robots Market, By Product
Table 2 Entertainment Robots Market, By Geography
Table 3 North America Entertainment Robots Market, By Product
List of Figures
Figure 1 Research Type
Figure 2 Entertainment Robots Market: By Product (%)
Figure 3 Entertainment Robots Market: By Region (%)
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