Entertainment Robots Market Scope:
Market Research Future (MRFR) in its new “Entertainment Robots Market” report, reveals that the worldwide market of entertainment in robots is likely to thrive at an impressive CAGR of 23.06% by 2023. In 2016, the entertainment robots market was valued at USD 981.25 million in 2016 and is expected to escalate to USD 3715.29 million by 2023.
The increase in the need for simplifying processes of entertainment is surging the demand for robots in the entertainment industries. This is expected to boost the expansion of the entertainment robots market in the forecast years. Entertainment Robots Marketare integrated with AI technology that enables, face-tracking, conversational operations, and speech recognition. Robot toys are incorporated with sensors, software, wireless motors, and microcontrollers that aid in controlling the dynamics of these toys via smartphone applications. These robots also use gesture-controlled application that manage 360-degree movement of these robots. For example, hand-controlled toys, such as robotic dogs and humanoid robots are controlled by smart wireless controllers.
The surge in demand for robots that assist in problem solving, improve creativity, enhance critical thinking, reasoning, and innovative learning techniques for small children or physically challenged people are expected to surge the market growth. Robotic companion pets are often used by senior citizens those require companionship for wellness purposes and therapeutic, and also curb loneliness. These are expected to propel the entertainment robots market. The need to eliminate technical complexity associated with human-machine interface technology and growing demand for cutting down R&D expenses are expected to be potential challenges on the growth of the global entertainment in robots market.
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Entertainment Robots Market Key Players:
MRFR has listed some of the key players that are operating in the global market of entertainment robots. They are; Hasbro, INC. (US), KUKA (Germany), SPHERO (US), MATTEL, INC (US), Modular Robotics (US), BLUEFROG ROBOTICS (France), Sony Corporation (Japan), Robobuilder (South Korea), and Lego (Denmark). The growing competition among key players are expected to benefit the market in years to come.
Entertainment Robots Market Segmental Study:
The global market of entertainment robots has been studied by end user and product.By product, the market is classified into educational robots, robot toys, and robotic companion pets.The increase in robot toys are expected to wind in high revenue for the global entertainment robot market across the forecast years.
Hence, the robot toys are expected to contribute significantly to the expansion of market. By end user, the market is segmented into education, retail, media, and others. Robots are being extensively used in the field of media and education. The cash-rich end players of the market is expected to boost the expansion of the entertainment robots market in the assessment years.
Detailed Regional Analysis:
The global market for entertainment robots is likely to grow at rapid pace at a significant rate in the forecast years from 2018 to 2023. The geographic study of the entertainment robots has been done across Europe, Asia-Pacific, North America, and the rest of the world (RoW).
The entertainment robots market in the Asia Pacific is likely to dominate the global market in the forecast period and is expected to attain a valuation of USD 1821.78 million by 2023. This is because of advancements in sensor technology and camera. The market in North America has secured the second position in the worldwide entertainment robots market. The growing entertainment industry in the Asia Pacific region is likely to be a growth inducing factor for the regional market. The increase in the adoption of entertainment robots in the North America region can surge the market in the review period.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
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List of Tables
Table 1entertainment 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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