Household Robots Market Size

Household Robots Market Analysis

The Household Robots Market size is estimated at USD 8.55 billion in 2024, and is expected to reach USD 22.46 billion by 2029, growing at a CAGR of 18.81% during the forecast period (2024-2029).

• Household robots, also known as domestic robots, are autonomous service robots that perform mundane tasks such as pool cleaning, floor cleaning, and lawn mowing. They can also be used for other things like entertainment, education, and elderly care.
• With the rapidly growing smart home concept, Robotics is expected to play a critical role in the overall smart home ecosystem. The reduction in household activities caused by the use of robotic vacuum cleaners is the primary driver of market growth. Modern households are becoming more computerized, providing convenience and reducing time spent on housework. While vacuum cleaners have made house cleaning easier, they produce noise and add bulk to everyday use.
• Moreover, one of the major factors driving the market is the increasing investment by companies worldwide in developing household robots for various applications. For example, Dyson, a British company, revealed a prototype of home robots capable of performing domestic chores in May 2022. The company also announced plans to construct the UK's largest robotics research facility.
• Other significant factors driving global demand for household robots include increasing automation in household appliances, rising labor costs in developed countries, and rising health and safety concerns. The increasing technological development in AI, robotics, and machine vision cameras, among others, aids market growth by effectively mapping floor edges, such as a staircase, and recognizing obstacles, such as cables, dustbins, doorsills, and rugs, allowing these robots to operate more smoothly and efficiently.
• Several initiatives being undertaken by the government and independent organizations to use technology to assist elderly people in maintaining their health and wellness, such as sleep, hydration, stress, and so on, are also driving demand for household robots. For example, the Olympic Area Agency on Aging (O3A) and Intuition Robotics announced a new program in March 2023 to provide ElliQ, an AI-driven care companion robot, to older adults in Grays Harbor and Pacific Counties who require additional assistance.
• However, the higher procurement and maintenance costs of these robots are among the significant factors impeding the growth of the studied market. To operate these robots efficiently, a certain level of technological know-how is required, which also poses a challenge to the market's development, particularly in developing regions.
• Despite the prices of home robots decreasing, these are still high enough to be adopted by mass consumers, especially in regions like Latin America and Africa. The increasing capabilities of cleaning robots have propelled the need for these robots' efficient performance, which further increases the cost. Additionally, policymakers and governments must also determine whether the technology deserves widespread application. For instance, in the cases of robotic vacuum cleaners and pool cleaners, it jeopardizes the jobs of several lower-income groups, which may lead to unemployment. Hence, such trends also challenge the studied market's growth.