These days, manufacturers have further started working on developing personal robots equipped with AI. The technology has enabled personal robots to sense, navigate, and calculate their response on the input received accordingly. The robots learn to perform their tasks from human beings from these responses, via machine learning. Manufacturers are further investing in new technologies for dealing with the rising competition in the domain, which is expected to result in the growth of the market.

The personal robots market is projected to generate a revenue of $51.5 billion in 2030, increasing from $21.5 billion in 2019, progressing at a 7.8% CAGR during the forecast period (2020–2030). On the basis of type, the market is categorized into security robots, personal transportation robots, companion robots, cleaning robots, handicap assistance robots, educational robots, and entertainment toy robots, out of which, the cleaning robots category held the largest share of the market during the historical period (2014–2019).

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These robots are used commonly in households, since they assist in daily chores and make the lives of their owners easier. The acceptance for these robots is further increasing rapidly in emerging countries, owing to their decreasing prices. The companion robots category is predicted to witness the highest CAGR during the forecast period, as they are widely becoming the missing companion in the solitary lives of people. It has been observed that one in every five citizens remains a bachelor in their lives, which is why, the demand for companion robots is predicted to increase in the coming years.

Geographically, the European region held the major share of the personal robots market during the historical period, as per a report by PS Intelligence. The region has already been holding a prominent position in the overall robotics industry, which is why, the demand for personal robots is also high in the region. The Asia-Pacific region is expected to witness the fastest growth during the forecast period.

This market research report provides a comprehensive overview of the personal robots market

• Historical and the present size of the personal robots 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