Global Indoor Robot Market Projected to Reach $82.5 billion by 2032
The indoor robot market, currently valued at $20.7 billion, is poised to grow at a Compound Annual Growth Rate (CAGR) of 14.88% from 2023 to 2032, according to data from Statzon/Apollo Research Reports. This increase, which would take the market to an estimated worth of $82.5 billion by 2032, is primarily attributed to growing demands in sectors such as hospitality, retail, and entertainment, coupled with the decreasing costs of robotic technology and the advent of smaller mobile robots.
Indoor robots, designed to operate within indoor environments such as homes, offices, hospitals, and factories, have increasingly found applications in dynamic and unstructured spaces like homes, restaurants, and shopping malls. Their functionality varies significantly, ranging from vacuuming and mopping floors in homes to handling materials, assembly, and inspection in industrial settings.
Although similar to industrial robots in their indoor operations, indoor robots are typically more compact and versatile, prioritizing human-robot interaction and collaboration. They focus on safety features such as collision detection and obstacle avoidance, enabling them to coexist and cooperate with humans in shared spaces.
The global indoor robot market is led by North America, with a revenue generation of $7.1 billion in 2022, thanks to robust investments in robotics, artificial intelligence, and related technologies by the U.S. and Canada. However, the Asia Pacific region is showing significant growth, with a CAGR of 17.3%. By 2032, the APAC indoor robot market is projected to outpace North America, reaching an estimated $32.7 billion compared to North America's projected $26.1 billion.
When segmented by type, cleaning robots are expected to contribute most significantly to the market growth, with an estimated value of $23.68 billion by 2032. Entertainment robots, used in film and TV production, among others, follow closely and are expected to reach $3.57 billion by 2032.
The indoor robot market is also influenced by the use in the residential sector, primarily due to the rise of domestic household robots such as vacuum cleaners. The residential segment of the market, valued at $12.012 billion in 2022, is projected to reach $47.333 billion by 2032, a CAGR of 14.78%.
While the use of robots in the commercial segment is also expected to rise significantly, reaching $35.145 billion by 2032, it's predicted that automation will have a more profound impact on the residential sector, reducing up to 60% of the time spent on grocery shopping.
As advancements in robotics continue, the market outlook for indoor robots in both commercial and residential settings remains promising.
Rika Melissa
Data Journalist, Statzon
rika@statzon.com
https://statzon.com
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