The consumer robotics market is set to close out 2015 at 33 million shipments with total revenues of $3.5 billion, ABI Research said, citing results of its latest consumer robotics market study.
“In 2015, robotic toys accounted for more than half of the year’s total shipments, but consumer UAVs is proving to be the fastest growing segment over the next decade,” said Phil Solis, Research Director at ABI Research.
By 2025, both shipments and revenues are expected to dramatically increase. The ABI Research forecasts total shipments to increase to 165 million and total revenue to hit $17 billion.
Further, the study showed that throughout the ten-year forecast, the homecare segment will remain the most powerful in terms of revenue generation.
The research agency expects consumer UAVs to surpass robotic toys in 2020 to take second place. By 2025, personal robots will also surpass robotic toys to take third place in revenue generation among segments.
“As these products advance in their technological capabilities and grow from stationary to mobile and add manipulation, average product prices will rise at times,” Solis said.
As a result, the personal robotics segment will generate a generous amount of revenue.
Major companies producing consumer robotics include, iRobot, Samsung, LG, Hasbro, WowWee, Parrot, DJI, 3D Robotics, Jibo, Blue Frog, and hundreds of others.