The number of consumer robots shipped will grow to 66 million units annually by 2025, according to a new forecast by Tractica.
That would be a growth from 15 million units last year and reaching $19 billion in annual revenue by that time.Market growth is being driven by new innovations and product categories, according to Tractica.
Cleaning robots, such as robotic vacuums, currently dominate the market for consumer robotics.
“Traditional consumer robotics companies are accelerating the use of AI to make their robots smarter and extend their capabilities,” states research analyst Sherril Hanson. “Integration with smart home devices will be a long-term driver of the market. The toy robot category is exploding, with options for both education and pure entertainment and fun. Toy robots are increasingly being used as educational tools in science, technology, engineering and math-based curriculum.”