The household robot market value is estimated to be USD 14.7 billion in 2024. As people's preferences for automated and networked homes are growing there has been an increase in the need for smart home technologies in recent years.
The market is predicted to rise at a CAGR of 20.6% during the forecast period. The household robot industry is estimated to reach a value of USD 96 billion by 2034.
| Report Attribute | Details |
|---|---|
| Household Robot Market Size (2024) | USD 14.7 billion |
| Anticipated Market Value (2034) | USD 96 billion |
| Projected Growth Rate (2024 to 2034) | 20.6% CAGR |
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The household robot market was valued at around USD 5 billion in 2019. The demand for household robots surged at an impressive CAGR of 24.7% from 2019 to 2023. The market was valued at USD 12.1 billion in 2023.
As individuals started spending more time at home during the pandemic years, the use of domestic robots surged in 2020 and 2021. This behavioral shift was observed during the post-pandemic years and is expected to drive market sales in the coming decade as well.
| Attributes | Details |
|---|---|
| Household Robot Market Value (2019) | USD 5 billion |
| Historical Market Revenue (2023) | USD 12.1 billion |
| Historical CAGR (2019 to 2023) | 24.7% |
Assisting the elderly with their daily activities, meeting the demands of an aging population, and promoting independent living have improved the general perception of household robots. The demographic shift in Western and East Asian countries is creating more opportunities for home robot manufacturers and suppliers through the projected years.
Recent advances in gesture detection and natural language processing software have made domestic robots easier to use and more user-friendly. However, to guarantee the safe and ethical use of robots in residences and public areas, regulatory frameworks are now in the process of development in several regions.
The table below lists a few countries that are analyzed to perform relatively better with respect to household robots for the consumer market.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 20.8% |
| Japan | 21.4% |
| United Kingdom | 21.2% |
| South Korea | 23.6% |
| China | 21% |
The United States household robot market is likely to advance at a CAGR of 20.8% from 2024 to 2034. The market value is forecasted to reach USD 17.1 billion by 2034.
The demand for household robots in the United Kingdom is expected to increase at a CAGR of 21.2% from 2024 to 2034. The market value is poised to reach USD 4.1 billion by the end of the forecast period.
The household robot industry in China is poised to progress with a CAGR of 21% through 2034. The regional industry value is forecasted to reach USD 15 billion by 2034.
Household robot sales in Japan are predicted to increase at a rate of 21.4% through 2034. The net worth of the Japanese market is predicted to be around USD 10.3 billion by 2034.
The market for household robots in South Korea is expected to thrive at a lucrative CAGR of 23.6% over the next ten years. This market is further expected to reach a net worth of USD 5.8 billion by the end of the forecast period.
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Based on different components, the product segment currently garners more revenue than the household robot service segment. This segment is forecasted to register a CAGR of 20.4% through the projected years.
| Attributes | Details |
|---|---|
| Top Component Type | Product |
| Growth Rate from 2024 to 2034 | 20.4% CAGR |
| Growth Rate from 2019 to 2023 | 24.5% CAGR |
Based on the type, the domestic robot segment currently leads the global market. The domestic segment is likely to expand at a CAGR of 20.3% through 2034.
| Attributes | Details |
|---|---|
| Top Type | Domestic |
| Growth Rate from 2024 to 2034 | 20.3% CAGR |
| Growth Rate from 2019 to 2023 | 24.3% CAGR |
The market is relatively new and a few household robot manufacturers have managed to acquire sufficient traction to be recognized as a famous brand. Established home service robot market players are focused more on improving safety features, particularly for home settings where there are small children or elderly people.
On the other hand, new manufacturers are adopting the strategy of customization and personalization of personal robots to improve their product appeal and compete in the global market.
Recent Developments in the Household Robot Market
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 14.7 billion |
| Projected Market Size (2034) | USD 96 billion |
| Anticipated Growth Rate (2024 to 2034) | 20.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Type, By Application, By Component, and By Region |
| Key Companies Profiled | Samsung Electronics Co. Ltd.; iRobot; Neato; Ecovacs; LG Electronics Inc.; Dyson; Alfred Kärcher; Lego; John Deere; iLife Innovation; BSH Hausgeräte; Miele; Robomow; Blue Frog Robotics; Husqvarna |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The household robot market is estimated to be around USD 14.7 billion in 2024.
The household robot market is set to grow at a CAGR of 20.6% during the forecast period.
The household robot market is predicted to be valued at USD 96 billion by 2034.
The household robot market was valued at USD 12.1 billion in 2019.
The United States accounts for nearly 17.7% share of the market.
The market in South Korea is expected to witness a CAGR of 23.6% through 2034.
| Estimated Market Size, 2024 | USD 12.2 billion |
|---|---|
| Projected Market Size, 2034 | USD 87.0 billion |
| Value-based CAGR (2024 to 2034) | 21.7% |
| Market CAGR (2023 to 2033) | 6.50% |
|---|---|
| Market Valuation (2023) | USD 707.52 billion |
| Market Valuation (2033) | USD 1,328.11 billion |
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