The entertainment robots market is estimated to expand at a healthy CAGR in the upcoming period. Production of entertainment robots using AI drives overall market growth. Entertainment robots are manufactured mainly to entertain humans, especially clients, children, guests, and elderly. These robots are equipped with cameras to avoid obstacles and microphones to recognize voices. They have ability to converse, dance, move, sing, and interact with people.
Availability of subsidies or innovation budget is estimated to fuel the entertainment robots market growth in the forecast period. Several industries are manufacturing robotic kits that enhance children’s skills and knowledge in subjects like mathematics, science, and others. . For example, entertainment industry uses artificial intelligence (AI) in children’s toys. However, high investment cost and lack of skilled personnel are the factors that hamper overall market growth.
At present, the major trends in the market are intelligent humanoid robots developed by the U.S. based company “Sarcos Corp”. They have also developed virtual reality platforms and manufacture hypersensitive and durable entertainment robots. These robots are specially designed as friends for kids at home and these toys range from $ 50 to 1000. On October 5 2018, UBTECH, a leader in AI technologies and intelligent humanoid robotics; announced their new project on Alexa-enabled robot that can even perform yoga at the Consumer Electronics Show expo. The UBTECH Robotics Walker is a tall bot with true bipedal motion that allows it to walk around, kick a soccer ball, and even go up and down stairs.
On January 7, 2019, UBTECH Robotics revealed its enhanced robots with new versions of Walker and Cruzr (Cloud-based humanoid service robot). Walker with the addition of robotic hands and arms. Whereas, Cruzr with enhanced performance and reliability. These intelligent robots are there to improve the entertainment quotient on the home front. Furthermore, Alpha Mini is ready to communicate, befriend, teach, and entertain in several scenarios.
The prominent players of entertainment robots market are Sony Corporation, Hasbro, Inc., Toshiba Machine Co. Ltd, Mattel, Inc., Robotics Inc., Sphero, Robo Builder, WowWee Group Limited., Modular Robotics, UBTECH Robotics, Aldebaran Robotics, and Blu Frog Robotics. These players are estimated to develop enhanced entertainment robotic systems as increasing investment in AI and augmented reality in future.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Entertainment Robots in these regions, from 2012 to 2023 (forecast), covering
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global Entertainment Robots market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Innovation First
• Evolution Robotics
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Commercial Entertainment Robots
• Non-Commercial Entertainment Robots
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Entertainment Robots for each application, including
• Gaming & Entertainment
• Athletic Sports
• Film and Television
Research Support Specialist, USA