The industry of technology and telecom is gaining significant growth with the extensive development in the technology and effective workforce of key players in the respective fields. Whereas, the global entertainment robots market is gaining effective growth because of the significant development in the technology of artificial intelligence, extensive growth in the demand for animatronic robots and rapid growth of the aging citizenry. Meanwhile, high initial costs are anticipated to hamper the growth of this market in the forecasted period. Moreover, the entertainment robots are specially designed for leisure purposes as such type of robots can interact with the people by singing, dancing, and narrating stories. With the effective working of key players and increase in the aging population lead the growth of this market more significantly in the recent trend and make the market more profitable and competitive. Due to the competitive nature of this market the new investors are not going hesitate in investing more. Hence, the market will grow more extensively in the near future.
According to the report analysis, ‘Global Entertainment Robots Market Research Report-Forecast To 2023’ states that some of the major companies are currently functioning in this sector more effectively for defeating the demand of the potential consumer and acquiring the highest share across the globe which includes Kuka AG (Germany), Hasbro, Inc. (US), Microsoft Corporation (US), Mattel, Inc. (US), Sphero (US), Blue Frog Robotics (France), Modular Robotics Inc. (US), Robobuilder Co., Ltd (South Korea), Sony Corporation (Japan), and LEGO (Denmark). Not only has this, the key players are adopting effective strategies and policies for making effective product and for attaining the huge share across the globe. Whereas, Aibo, Gupi, Poo-Chi, Bo-Wow, iDOG, i-Cybie, and Teksta are some of the major entertainment robots which are gaining high popularity due to their effective applications and working.
On the basis of geography, the market of this product is spread across the globe which includes major regions such as North America, Europe, Asia Pacific, and rest of the world. Moreover, on the basis of product the market is broadly classified as educational robots, robot toys, and robotic companion pets. Furthermore, the segment of robot toys is anticipated to lead the global entertainment robots market due to the high demand for robot toys for children. Not only this, the educational sector is also dominating the market as the sector of educational robots in this market is expected to register the positive CAGR in the forecasted period because of significant increase in the demand for educational robots by trainers, parents, educational institutions and several others as they support in generating critical thinking, problem solving, innovative learning, reasoning and several others.
The key players of this are playing effective role by analyze the various factors which are affecting the market more significantly along with a forecast of the various segments and sub-segments of the entertainment robots market. Therefore, in the coming years it is anticipated that the global market of entertainment robots will grow more significantly with the effective working of key players with the advanced development in the specifications of the entertainment robots over the decades.
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Ankur Gupta, Head Marketing & Communications