Entertainment Robots Market Research Report by Forecast to 2023

Posted by Kiran on November 20th, 2019

Entertainment Robots Market Highlights:

This study offered by Market Research Future (MRFR) unfolds that the global entertainment robots market is poised to expand at 23.06% CAGR across the evaluation period. Also, the market is set to scale valuation of USD 3715.29 Mn by 2023 from USD 981.25 Mn in 2016. Rapid adoption of technological advancements is likely to influence the market greatly in the years to come.

The rising population of aged people has led to an increase in demand for these robots, especially companion robots. In addition, the education sector is also leveraging these robots to promote interactive studying. These factors are poised to open growth avenues for players in the Entertainment RobotsMarket.

Competitive Dashboard:

KUKA (Germany),  MATTEL, INC (US), Hasbro, INC. (US), SPHERO (US), Sony Corporation (Japan), Modular Robotics (US), BLUEFROG ROBOTICS (France), Robobuilder (South Korea), and Lego (Denmark) are some of the eminent players of the global entertainment robots market.

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These players are investing massively in research & development. It is anticipated to propel competition in the marketplace over the next couple of years. In addition, players are projected to emphasize on growth approaches such as product portfolio development, product innovation, technological advancements, etc. This share analysis offers a detailed study of the key developments, current market status of the players, past trends, etc. In addition, it has also been assessed that new players can enter the entertainment robots market in the forthcoming years. Some of the other inorganic approaches expected to be leveraged by players of the market in the nearby future are collaborations, partnerships, mergers & acquisitions, etc.

Market Segmentation:

The segments of the global entertainment robots market identified on the basis of product are - educational robots, robot toys,  and robotic companion pets. Among these, the robotic companion pets are anticipated to gain popularity over the next couple of years. Increasing population of older adults is expected to boost the growth pattern of the segment in the nearby future.

The key end-user segments of the entertainment robots market profiled in this assessment are media, retail, education, and others. The education segment is projected to gain traction in the years to come due to rising investments by key players.

Regional Analysis:

This report offers an assessment of the global entertainment robots market on the basis of region, which is again studied on a country-level basis. The prime regional segments of the market profiled in this in-depth analysis are - North America,  Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Asia Pacific is expected to hold the pole position of the global market by the close of the forecast period. It is also estimated to earn revenues worth USD 1821.78 Mn by 2023. The region has been observing rapid developments in technology such as cameras, sensors, etc. In addition, the region is also likely to increase its production of technologically developed products. These factors are expected to push the entertainment robots market on upward trajectory.

A rise in geriatric population has led to a rising demand for companion robots. This, in turn, is anticipated to lead the regional entertainment robots market's growth rate over the next couple of years. Other factors expected to influence the expansion of the market in the region positively are rising disposable income, increasing population, economic development, etc.