Consumer robotics shipments to hit 74m by 2024
Written by Peter Walker
Over 74 million consumer robots will be shipped in 2024, up from an estimated 28 million in 2019, according to Juniper Research.
It’s market analysis forecasted that vendors’ focus on educational features in consumer robots, such as coding tools, and adding features to established device ranges will increase the consumer value proposition, will drive the growth of consumer robotics adoption over the next five years.
Juniper suggested that shipments of domestic aide robotics, including robot vacuums, mops and lawnmowers, will to reach 47 million in 2024, from only 19 million in 2019. The domestic aide segment will account for nearly two thirds of global consumer robotics shipments by 2024.
The research urged consumer robotics vendors to diversify their services by adding new features to their domestic aide robots, identifying new capabilities such as garden maintenance and smart home compatibility as key emerging areas that will provide growing demand from end users in the sector.
Research author Michael Larner explained: “With the highly visible changes in the robotics market, vendors are searching for a way to secure their futures – the winners will be the manufacturers which create the most valuable long-term propositions for users, which justify their high asking prices by offering a comprehensive service portfolio”.
Juniper added that vendors in the space should explore future subscription models for access to robotics services in order to generate recurring revenues from its products; enabling them to invest further into cyber security features.
However, to justify leveraging this recurring cost onto end users, the research also forecasted that inclusion of new services - including integration with digital voice assistants - was essential to maximise the value proposition and foster confidence among consumers of the long term capabilities of consumer robotics devices.