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A new study from Juniper Research
has found that domestic aide robotics will drive consumer robotics
hardware revenues from an estimated $6.4 billion in 2018 to nearly $23
billion by 2022; an increase of over 250%.
The study, Consumer Robotics: Sector Analysis, Leading Innovators & Emerging Opportunities 2018-2022,
found that domestic aide robots, such as robotic vacuum cleaners, will
account for 73% of total revenues by 2022. This will be due to
increasing popularity of such devices from iRobot, Dyson and Samsung. These have been joined by lower cost devices, which will broaden the segment’s appeal.
Three Segments Offering the Greatest Potential
Juniper’s study examined key consumer segments disrupted by
robotics; analysing metrics such as expected user benefits, barriers and
ecosystem readiness. Identifying three segments where robotics will
have the greatest revenue potential:
- Educational
- Domestic aide
- Toys
It found that despite popularity of domestic aide robots, the
biggest growth area of consumer robotics will be in the educational
area; representing an average annual growth of 40% in hardware revenues.
Companies such as Anki and Wonder Workshop are joining established
players like LEGO in providing robotics focused on programming.
Juniper predicted that programming will become desirable in toys,
as parents focus on educational benefits. Research author Nick Maynard
explained: “With the disruption that AI and the changing nature of work
will bring worldwide, STEM (Science, Technology, Engineering and
Mathematics) education will be more important than ever. Educational
robotics is a brilliant way for parents to make these subjects engaging
in the home.”
Consumer Healthcare Robots to Struggle
Meanwhile, the research found that healthcare robotics’ success
will be more constrained. Long-term, these robots are expected to act as
home carers; however, issues like cost and dexterity need further
innovation before that is achievable.
As such, telepresence robots, with the ability to facilitate
remote medical appointments will remain dominant medium-term. This
limited functionality means the segment will grow at a lower CAGR of 24%
to reach $422 million in revenues by 2022.
Source: Juniper Research media announcement
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