NEW
YORK, June 18, 2024 /PRNewswire/ -- The
global entertainment robots market size is estimated to
grow by USD 96.88 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 34.24% during the forecast period.
Increasing demand for entertainment robots for leisure
purposes is driving market growth, with a trend
towards increasing focus on collaboration and launch of new
products. However, high initial investment and servicing costs
for vendors poses a challenge. Key market players include
BLUE FROG ROBOTICS SAS, fischerwerke GmbH and Co. KG, HANSON
ROBOTICS Ltd., Hasbro Inc., Intuitive Robots, KUKA AG, LEGO System AS, Mattel Inc., Modular
Robotics Inc., Neobotix GmbH, PAL Robotics, RN Chidakashi
Technologies Inc., ROBOTIS Co. Ltd., RobotShop Inc., Sarcos
Technology and Robotics Corp., SoftBank Robotics Group Corp., Sony
Group Corp., Sphero Inc., UBTECH Robotics Inc., and WowWee Group
Ltd..
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Entertainment Robots
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
34.24%
|
Market growth
2024-2028
|
USD 96882
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
26.96
|
Regional
analysis
|
Europe, APAC, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
32%
|
Key
countries
|
US, Germany, China, UK,
and Japan
|
Key companies
profiled
|
BLUE FROG ROBOTICS SAS,
fischerwerke GmbH and Co. KG, HANSON ROBOTICS Ltd., Hasbro Inc.,
Intuitive Robots, KUKA AG, LEGO System AS, Mattel Inc., Modular
Robotics Inc., Neobotix GmbH, PAL Robotics, RN Chidakashi
Technologies Inc., ROBOTIS Co. Ltd., RobotShop Inc., Sarcos
Technology and Robotics Corp., SoftBank Robotics Group Corp., Sony
Group Corp., Sphero Inc., UBTECH Robotics Inc., and WowWee Group
Ltd.
|
Market Driver
The entertainment robots market is undergoing a notable shift,
with a heightened emphasis on partnerships and the introduction of
new products. In October 2022, Hanson
Robotics collaborated with Playasia to create a merchandise line
inspired by SOPHIA the Robot. This collection, consisting of themed
clothing, artwork, posters, and collectibles, will be accessible
through SOPHIA's online boutique. In December 2023, Sphero Inc. Launched the Sphero
BOLT Power Up Program, offering Title I schools, non-profits, and
youth organizations the chance to use a Sphero BOLT Power Pack for
six weeks. This initiative aims to reach 1,500 students as part of
Sphero's commitment to the CSForAll initiative. These
collaborations and product launches will continue fueling the
growth of the global entertainment robots market.
The Entertainment Robots Market is experiencing significant
growth with advancements in technology. Animation and marketing
industries are utilizing robots for creation and promotion. Robots
like Chatbots and Virtual Assistants are popular in this sector.
Robots are used for creating content, interacting with audiences,
and providing personalized experiences. Programmable robots like
Sphero and Animatronics are used for live performances and events.
Robots are also used for creating art and music. Companies are
investing in research and development to create more advanced and
interactive robots. The use of robots in entertainment is a trend
that is here to stay. Robots are becoming an essential tool for
content creation and audience engagement.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
• The
entertainment robots market experiences consistent growth, despite
the high costs associated with development. These expenses include
purchasing raw materials, establishing manufacturing facilities,
investing in machine learning and artificial intelligence, and
ongoing research and development. Robots' complexity necessitates
extensive testing to ensure safety before commercialization.
Running a robotics company demands significant technological
expertise and continuous innovation. While numerous startups have
emerged, some struggle financially and fail. Proper maintenance and
servicing are essential to maintain robots' optimal performance and
longevity. Neglecting servicing may result in breakdowns and
malfunctions. For instance, the production of Pepper, SoftBank's
humanoid robot, ceased due to its limited functionalities,
indicating the importance of continuous improvement to remain
competitive in the market.
• The
Entertainment Robots Market is experiencing significant growth with
various players introducing innovative robotic solutions. However,
challenges persist in this sector. One major challenge is the need
for advanced technology to create realistic and engaging
experiences for users. Another challenge is the high cost of
development and production, limiting the accessibility of these
robots to a wider audience. Additionally, ensuring the safety and
ethical use of these robots is a concern for both manufacturers and
consumers. Furthermore, the need for continuous innovation to keep
up with consumer demands and preferences adds to the complexity of
the market. Despite these challenges, the Entertainment Robots
Market continues to show promise, with potential for significant
growth in the coming years.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This entertainment robots market report extensively covers
market segmentation by
- Product
- 1.1 Robotic toys
- 1.2 Educational robots
- 1.3 Robotic companion pets
- End-user
- 2.1 Media
- 2.2 Education
- 2.3 Retail
- Geography
- 3.1 Europe
- 3.2 APAC
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Robotic toys- The entertainment robots market
encompasses a diverse range of robotic toys, including animal and
vehicle models, that provide amusement for both children and
adults. Robots mimicking humans with programmed commands, remote
control, and sensor signals add to their appeal. Hasbro's
Transformers Optimus Prime, a converting programmable robot,
showcases advanced technology with mobile app control and voice
commands. The market's growth is driven by increasing demand from
adults and the emergence of humanoid robots. Vendors continue to
innovate to stay competitive.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Entertainment Robots Market encompasses a wide range of
robotic technologies designed to provide engagement and therapeutic
assistance in healthcare settings. These robots, which include toy
robots, dancing speakers, and humanoid robots, are powered by
advanced electronics and semiconductors, as well as artificial
intelligence (AI), robot vision, and cognitive computing. Patients
experience care and comfort through multimedia tasks, narrative
environments, and cultural entertainment. Entertainment robots are
equipped with microphones and voice recognition for interaction,
while face recognition enables personalized experiences. Dance
routines and singing add to their entertainment value. The
Entertainment Robots Market is showcased at trade fairs,
highlighting the latest innovations in this field.
Market Research Overview
The Entertainment Robots Market encompasses a variety of robotic
systems designed to provide amusement, engagement, and interaction
for individuals. These robots utilize advanced technologies such as
artificial intelligence, machine learning, and computer vision to
deliver unique experiences. They can be found in various sectors
including education, healthcare, hospitality, and entertainment
industries. Robots used in entertainment can range from humanoid
robots performing dance routines to interactive robots engaging in
conversation with visitors. The market for these robots is growing
rapidly due to increasing demand for personalized and immersive
experiences. Additionally, advancements in technology continue to
drive innovation in the field, leading to new applications and use
cases. Overall, the Entertainment Robots Market presents
significant opportunities for growth and development in the coming
years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Robotic Toys
- Educational Robots
- Robotic Companion Pets
- End-user
-
- Geography
-
- Europe
- APAC
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio