What about the consumer robotics revolution we are experiencing today?
Today, we are moving towards a world full of robots, that’s a fact. Consumer robots and robotic devices are developed for use by the general public, mostly in a domestic or personal environment. Many of them are designed for everyday chores such as household robots, vacuum robots, lawn mowing robots, pool cleaning robots, etc. What was a revolution in 2002 when the first Roomba was released, is now becoming pretty common. In 2016, 20% of vacuum cleaners were robot. In 2017 they’re up to 23% and rising. However, whereas people associate domestic robots mostly with vacuums and Roomba, most of the traditional household products manufacturers have set a foot in robotics. Robots used to be fantasies from science fiction, but it’s not anymore. The robotics market is taking off and will continue to grow, with worldwide spending on robotics.
Now, consumer robotics is shifting from a phase of being largely dominated by cleaning robots, into robotic personal assistants or family companions. Indeed these robots are transforming into interactive connected devices. A concrete example is Domgy by ROOBO, the first “intelligent” pet robot, which aims to be a family companion that plays with your kids, reads your expressions and gestures and even breaks into dance.
These domestic robots are improving lives. Even if we are still far from the future depicted in science-fiction, many robots are taking away chores from us. They are doing our chores autonomously so these robots effectively free our time. With less time spent cleaning up our houses, we can focus on more meaningful things: hobbies, family, etc.
- Domestic Robots represents a huge market potential
Worldwide sales of consumer robots reached $3.8 billion in 2016 and the market will continue to grow strongly over the next few years, while providing significant opportunities for new industry participants as well. This is a market with very high potential in value and volume. Today, China is the fastest-growing robotics market, followed by Japan and the United States. As the opportunities are numerous, more and more entrepreneurs are jumping into the market nowadays to take advantage of the rage for robotics. In fact, entrepreneurial innovation is fueling the demand for robotics. What is even better for investors and entrepreneurs is the fact that robotics is no longer just for the luxury market or limited to certain industries. It’s a global opportunity ripe for innovation in the areas of education, entertainment, health care and defense. As an example, some countries are investing in personal-assistance robotics initiatives to better support the needs of their aging and mobility-impaired populations.
There still may be a long road ahead before your WALL-E can drag you from your bed or serve you coffee. However, we’re closer to the robotics revolution than many think.