Consumer Robotics Market Size, Share, Growth Analysis, By Type (Autonomous, Semi-autonomous), By Component (Software, Hardware), By Application (Cleaning/Household Robots, Security Robots), By Connectivity (Wi-Fi, Bluetooth), By Region - Industry Forecast 2024-2031

The fierce competition among major companies in the ever-changing global consumer robotics market propels ongoing innovation and calculated moves. To obtain a competitive advantage, businesses are utilizing a variety of market-specific tactics to navigate this environment.

One of the main strategies is product differentiation, when corporations concentrate on creating distinctive features and functionalities that distinguish their products from those of their rivals. Differentiation—whether it is through cutting-edge AI integration, improved sensory capabilities, or user-friendly interfaces—is essential to drawing in discerning customers looking for advantages from their robotic companions.

Furthermore, substantial funds are still allocated to research and development projects, demonstrating the continued importance of technical innovation. Cutting-edge technology like computer vision, machine learning, and artificial intelligence is constantly being used to improve the functionality and performance of consumer robots, increasing their market appeal and possible uses.

A Japanese electronics and photographic company with a global presence is Ricoh Company, Ltd. On February 6, 1936, the Riken Concern, a now-defunct commercial division of the Institute of Physical and Chemical Research (Riken), established Riken Sensitized Paper. Ricoh manufactures electronic devices, primarily cameras, as well as office equipment like printers, photocopiers, and fax machines. It also provides Software as a Service (SaaS) document management services such as Document Mall, Ricoh Docs, Global Scan, Print Share, Make Leaps, and projectors. From the late 1990s through the early 2000s, the company evolved to become the world's largest copier maker.

Consumer robots are produced by the American technology company iRobot Corporation. Three researchers from MIT's Artificial Intelligence Lab who were working on military defensive robotics and space exploration founded it in 1990. The firm sells a range of self-driving floor sweepers (Braava), hoover cleaners (Roomba), and other cleaning tools. In January 2022, iRobot, the maker of the most popular vacuum robot Roomba, stated that it is working on the newest version of the disc-shaped domestic aide, which may include arms to conduct jobs such as dishwashing, food serving, and laundry.

Top Player’s Company Profile

• Bossa Nova Robotics 
• LG Electronics 
• Hasbro 
• iRobot Corporation 
• Samsung 
• Robert Bosch GmbH 
• Honda Motor Co., Ltd. 
• Blue Frog Robotics  
• Jibo Inc.  
• 3D Robotics (acquired by Kitty Hawk) 
• Neato Robotics  
• Intuitive Surgical Inc.  
• Google Inc.  
• Parrot SA  
• Wow Wee Group Limited  
• Samsung Electronics Co. Ltd.  
• Pai Technology 
• Grishin Robotics 
• Lego Education 
• Hoaloha Robotics 

Recent Developments

• In January 2024, Ecovacs Robotics Co., Ltd. introduced the X2 COMBO and Winbot W2 OMNI, robotic cleaning solutions designed to efficiently tackle household maintenance. X2 COMBO integrates window and floor cleaning capabilities, while Winbot W2 OMNI gives you advanced versatility with its dual functionality for window and floor cleaning.

• In August 2023, Google LLC signed a partnership with NVIDIA, a leading technology company renowned for its innovations in graphics processing units (GPUs), artificial intelligence, and accelerated computing solutions. Through this partnership, Google Cloud and NVIDIA will be focused on enhancing the progression of AI computing, software, and services.

• In April 2023, LG Electronics, Inc. came into partnership with Applied Intuition, a leading provider of simulation and testing platforms for autonomous vehicle development, facilitating safe and efficient testing in virtual environments. Through this partnership, both companies joined forces to accelerate the advancement of camera systems for autonomous mobile robots (AMRs) through the utilization of synthetic training data.