This global market research report presents a detailed segmentation of the entertainment robots market by product (robotic toys, educational robots, and robotic companion pets) and by geography (the Americas, APAC, and EMEA). The top players in this market are Hasbro, Lego, Mattel, Sphero, and WowWee.
Technavio’s market research analysts predict the global entertainment robots market to grow at a CAGR of around 20% between 2016 and 2020. Entertainment robots are developed for utilitarian purposes in domestic settings to entertain humans, especially children, elderly, guests, or clients. These robots can converse, move, sing, dance, and interact with people. Much of this market’s growth can be attributed to the ability of entertainment robots to teach and reinforce science, technology, engineering, arts, and math (STEAM) skills to children. EMEA will be the largest market for entertainment robots during the forecast period owing to the entry of numerous prominent international vendors. The market for entertainment robots in EMEA will grow at an impressive CAGR of almost 16% by 2020.
The new market research report from Technavio provides a breakdown and analysis of the entertainment robots segments by technology.
“One of the key trends gaining momentum in this market is the development of entertainment robots with high artificial intelligence (AI). High R&D investments in the field of robotic technology have led to the development of robots with AI. Recently, many manufacturers have been trying to develop humanoid robots with advanced technologies as they can connect with humans easily. As a result, technologies like voice recognition and proprietary algorithms that can detect the human’s emotions from their expression are being implemented in robots. With the help of such algorithms, robots can learn to respond to present commands as well as adapt to responses as required,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research
The robotic toys product segment is expected to be the largest market segment during the forecast period. The ability of robotic toys to mimic human perception, and perform activities like dancing, moving, and interacting with humans will lead to its augmented demand during the estimated period. Extensive market study carried out by the analysts at Technavio has shown that this product segment will grow at a CAGR of over 16% until 2020.
The leading vendors in the global entertainment robots market include Hasbro, Lego, Mattel, Sphero, and WowWee. This market is highly competitive due to the presence of numerous large robotic vendors. Established toymakers such as Lego and Hasbro focus on providing smartphone-enabled robotic toys that can enrich the play experiences of children. The large vendors in this market are facing intense competition from other technology-oriented electronic manufacturing companies such as Toshiba and Sony.
A more detailed analysis is available in the Technavio report, Global Entertainment Robots Market 2016-2020.
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