17% compound annual growth rate forecast for home cleaning, remote presence and home entertainment robots

A recent Business Insider article, Beyond Factory Robots: Market Forecast and Growth Trends for Consumer and Office Robots, concludes that for the period from now until 2019, consumer and office robots will grow at a 17% compound annual growth rate (CAGR) – seven times faster than the market for manufacturing robots.

The report sees a shift toward new non-industrial and logistics uses of robotics, and projects there will be a $1.5 billion market for consumer and business robots by 2019.

The report limited its scope to three categories:

• Home cleaning and maintenance
• Remote presence
• Advanced robots for home entertainment

Other applications, such as healthcare assistance, unmanned aerial, underwater and land vehicles, robotic toys (of which there are many new ones hitting the marketplace this coming Christmas season) and other service robots were omitted from the research because Business Iinsider felt they were just coming into existance and not measurable in monetary terms.

Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.

Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.