How Will Mobile Robot Demand Augment Personal Robot Sale?
The World Bank estimates that the population of women aged 65 years and above in Japan and Germany increased from 19,949,469 in 2019 to 20,150,701 in 2020 and 10,065,399 in 2019 to 10,132,696 in 2020, respectively. It also states that the number of men aged 65 years above in Germany and Japan surged from 7,851,701 in 2019 to 7,920,048 in 2020 and 15,407,952 in 2019 to 15,583,297 in 2020, respectively. The rising geriatric population, especially in developed countries, will, therefore, facilitate the adoption of personal robots in the forthcoming years.
In addition, the burgeoning demand for mobile robots and the reducing prices of robotic systems will drive the personal robots market at a CAGR of 7.8% during the forecast period (2020–203. According to P&S Intelligence, the market revenue stood at $21.5 billion in 2019, and it will reach $51.5 billion by 2030. This growth can also be credited to the booming demand for home automation and the surging public awareness regarding different types of robots.
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