Factors such as the declining price of personal robots, increasing demand for mobile robots, surging adoption of security robots and domestic cleaning robots, rising demand for home automation, and growing awareness about different types of such robots among consumers are projected to boost the growth of the personal robots market at a CAGR of 7.8% in the forecast period (2020–2030). At this growth rate, the market size is expected to reach $51.5 billion by 2030 from $21.5 billion in 2019.

Another key factor driving the demand for personal robots is the surging demand for mobile robots across the globe, owing to the rising security concerns. Such robots are integrated with artificial intelligence (AI) and the internet of things (IoT), which make them capable of autonomous movement, thereby enabling them to cover and secure a significant area. These robots are also known as spying robots, as they are used for spying. They can detect thieves or unidentified people entering a home and alert the owner about the intrusion or other illegal activities.

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Additionally, the personal robots market is categorized into cleaning robots, educational robots, entertainment & toy robots, companion robots, handicap assistance robots, security robots, and personal transportation robots, based on type. Among these, the cleaning robots category generated the highest market revenue in 2019, and it is also expected to dominate the market during the forecast period. This is ascribed to the fact that cleaning robots are mostly used in households to help in the daily tasks of the users and the increasing adoption of such robots in developing countries.

Geographically, Europe accounted for the largest share in the personal robots market in 2019. This is attributed to the surge in the demand for automation in households, increase in the spending power of consumers, and rise in the innovations, investments, and partnerships by the market players in the region. For example, iRobot Corporation launched two new robots, namely Roomba s9+ robot vacuum and Braava jet m6 robot mop, in May 2019. Moreover, Zorabot signed an agreement with temi USA Inc. in February 2019 to sell “temi – The Personal Robot” in Europe.

This market research report provides a comprehensive overview of the market

* Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings