Dublin, Nov. 20, 2020 (GLOBE NEWSWIRE) -- The "Personal Robots Market Research Report: By Offering, Type - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

At the present time, the world has become largely dependent on technology, and novel devices are being developed continuously for making the loves of human easier. It is due to this that the demand for personal robots is projected to increase in the coming years. The robotics market has been witnessing significant growth, particularly in the service and private sectors, since the past few years. This can be majorly attributed to the technological advancements.

Owing to these factors, the global personal robots market is projected to grow considerably in the years to come. A major reason leading to the high demand for these robots is their declining prices. Reduced prices of these devices are encouraging more and more people to buy them. The industry has been witnessing 2-9% yearly decline in price. This will further increase the affordability of these robots in emerging economies. Manufacturers are further trying to produce cheaper models for penetrating low-income countries.

These days, manufacturers have further started working on developing personal robots equipped with AI. The technology has enabled personal robots to sense, navigate, and calculate their response on the input received accordingly. The robots learn to perform their tasks from human beings from these responses, via machine learning. Manufacturers are further investing in new technologies for dealing with the rising competition in the domain, which is expected to result in the growth of the market.

The personal robots market is projected to generate a revenue of $51.5 billion in 2030, increasing from $21.5 billion in 2019, progressing at a 7.8% CAGR during the forecast period (2020-2030). On the basis of type, the market is categorized into security robots, personal transportation robots, companion robots, cleaning robots, handicap assistance robots, educational robots, and entertainment & toy robots, out of which, the cleaning robots category held the largest share of the market during the historical period (2014-2019).

These robots are used commonly in households, since they assist in daily chores and make the lives of their owners easier. The acceptance for these robots is further increasing rapidly in emerging countries, owing to their decreasing prices. The companion robots category is predicted to witness the highest CAGR during the forecast period, as they are widely becoming the missing companion in the solitary lives of people. It has been observed that one in every five citizens remains a bachelor in their lives, which is why, the demand for companion robots is predicted to increase in the coming years.

Geographically, the European region held the major share of the personal robots market during the historical period, as per a report by the publisher. The region has already been holding a prominent position in the overall robotics industry, which is why, the demand for personal robots is also high in the region. The Asia-Pacific region is expected to witness the fastest growth during the forecast period.

Key Topics Covered:

Chapter 1. Research Background1.1 Research Objectives1.2 Market Definition1.3 Research Scope1.3.1 Market Segmentation by Offering1.3.2 Market Segmentation by Type1.3.3 Market Segmentation by Geography1.3.4 Analysis Period1.3.5 Market Data Reporting Unit1.3.5.1 Volume1.3.5.2 Value1.4 Key Stakeholders

Chapter 2. Research Methodology2.1 Secondary Research2.1.1 Paid2.1.2 Unpaid2.2 Primary Research2.2.1 Breakdown of Primary Research Respondents2.2.1.1 By region2.2.1.2 By industry participant2.2.1.3 By company type2.3 Market Size Estimation2.4 Data Triangulation2.5 Currency Conversion Rates2.6 Assumptions for the Study

Chapter 3. Executive Summary3.1 Voice of Industry Experts/KOLs

Chapter 4. Introduction4.1 Definition of Market Segments4.1.1 By Offering4.1.1.1 Hardware4.1.1.2 Software4.1.2 By Type4.1.2.1 Cleaning robots4.1.2.2 Entertainment & toy robots4.1.2.3 Educational robots4.1.2.4 Handicap assistance robots4.1.2.5 Companion robots4.1.2.6 Personal transportation robots4.1.2.7 Security robots4.1.2.8 Others4.2 Value Chain Analysis4.3 Market Dynamics4.3.1 Trends4.3.1.1 Open software platform for personal robotics4.3.1.2 Emergence of personal robots with AI4.3.1.3 Entry of new companies in personal robots market4.3.2 Drivers4.3.2.1 Declining price of personal robots4.3.2.2 Aging population in developed countries4.3.2.3 Increasing demand for mobile robots4.3.2.4 Impact analysis of drivers on market forecast4.3.3 Restraints4.3.3.1 Technical complexity coupled with security concerns in personal robots4.3.3.2 Lack of skilled professionals4.3.3.3 Impact analysis of restraints on market forecast4.3.4 Opportunities4.3.4.1 Growing demand for low-cost cleaning robots in developing countries4.3.4.2 Growing demand for "care-bot" and other robots from Japan4.4 Impact of COVID-19 on Personal Robots Market4.4.1 Current scenario4.4.2 COVID-19 scenario4.4.3 Future scenario4.5 Porter's Five Forces Analysis4.5.1 Bargaining Power of Buyers4.5.2 Bargaining Power of Suppliers4.5.3 Intensity of Rivalry4.5.4 Threat of New Entrants4.5.5 Threat of Substitutes

Chapter 5. Global Market Size and Forecast5.1 By Offering5.2 By Type5.3 By Region

Chapter 6. North America Market Size and Forecast6.1 By Offering6.2 By Type6.3 By Country

Chapter 7. Europe Market Size and Forecast7.1 By Offering7.2 By Type7.3 By Country

Chapter 8. APAC Market Size and Forecast8.1 By Offering8.2 By Type8.3 By Country

Chapter 9. LATAM Market Size and Forecast9.1 By Offering9.2 By Type9.3 By Country

Chapter 10. MEA Market Size and Forecast10.1 By Offering10.2 By Type10.3 By Country

Chapter 11. Major Markets for Personal Robots11.1 U.S. Personal Robots Market11.1.1 By Type11.2 Germany Personal Robots Market11.2.1 By Type11.3 China Personal Robots Market11.3.1 By Type

Chapter 12. Competitive Landscape12.1 List of Players and Their Offerings12.2 Ranking of Key Players12.2.1 Global Personal Robots Market Key Players Analysis12.3 Strategic Developments of Market Players12.3.1 Mergers & Acquisitions12.3.2 Product Launches12.3.3 Partnerships12.3.4 Geographic Expansion

Chapter 13. Company Profiles13.1 F&P Robotics AG13.1.1 Business Overview13.1.2 Product and Service Offerings13.2 Segway Inc.13.2.1 Business Overview13.2.2 Product and Service Offerings13.3 Neato Robotics Inc.13.3.1 Business Overview13.3.2 Product and Service Offerings13.4 ZMP Inc.13.4.1 Business Overview13.4.2 Product and Service Offerings13.5 iRobot Corporation13.5.1 Business Overview13.5.2 Product and Service Offerings13.5.3 Key Financial Summary13.6 Ecovacs Robotics Inc.13.6.1 Business Overview13.6.2 Product and Service Offerings13.7 Sony Corporation13.7.1 Business Overview13.7.2 Product and Service Offerings13.7.3 Key Financial Summary13.8 Honda Motor Co. Ltd.13.8.1 Business Overview13.8.2 Product and Service Offerings13.8.3 Key Financial Summary13.9 Samsung Electronics Co. Ltd.13.9.1 Business Overview13.9.2 Product and Service Offerings13.9.3 Key Financial Summary13.10 temi USA Inc.13.10.1 Business Overview13.10.2 Product and Service Offerings

Chapter 14. Appendix

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The Worldwide Personal Robots Industry is Expected to Grow at a CAGR of 7.8% Between 2020 and 2030 - GlobeNewswire