Purchases of household, toy and educational robots will fuel a five-fold increase in consumer robot shipments worldwide over the course of five years, according to a new consumer robot shipments forecast from Tractica, a market research company that focuses on the broad issues and developments related to human interaction with technology.
The emergence of a diverse range of robotic systems and technology start-ups along with sharp, rapid drops in prices due to lower component costs loom large among the factors fueling growth, according to Tractica.
Consumer Robot Shipments Forecast
Tractica forecasts worldwide shipments of consumer robots will spike higher, rising from 10.0 million in 2016 to 50.7 million units in 2022. Revenues will rise from $3.8 billion to $13.2 billion, the company highlights.
“Consumer robotics is shifting from a phase of being largely dominated by cleaning robots, into robotic personal assistants or family companions,” Tractica research analyst Manoj Sahi was quoted. “In addition, robotic toys, which, until now, were largely gimmicks, are transforming into interactive connected play devices that have virtually limitless possibilities, as well as useful educational tools as a part of science, technology, engineering, and math (STEM)-based curriculum.”