Entertainment robot market is projected to witness a CAGR of 17.26% during the forecast period to reach a total market size of US$18.200 billion by 2023, increasing from US$7.002 billion in 2017. The development of entertainment robot with AI is the major factor driving the growth of entertainment robot market. Moreover, high R&D investment leads to continuous innovation in technology which will further augment the market growth in years ahead. Other major drivers of entertainment robot market include changing consumer lifestyle due to rapid urbanization and growing disposable income of people. However, factors like lack of skilled labour as well as high initial investment in design and development of the product restrains the market growth. Geographically, high disposable income and presence of developed market drive the Europe entertainment robot market growth. Likewise, early adoption of technology and high speed innovations coupled with high R&D investment in robotics contributes to the regional market share of North America Entertainment Robot market. APAC market is expected to grow at a high CAGR over the projected period owing to growing spending capacity of consumer. The growing number of players in Japan and South Korea further contributes to the APAC Entertainment Robot market growth.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the entertainment robot value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Lego, WowWee Group Limited, Sony Corporation, Hasbro, Inc., Aldebaran Robotics, Mattel, Inc., Florida Robotics, and Sphero.
- By Type
- ·Robotic Toys
- ·Robotic Companion Pet
- By Component
? Control System
- By Geography
- ·North America
- ·South America
- ·Middle East and Africa