Personal robotics market to top $19 billion in 2017

NEW YORK, USA: While many consumers’ current interaction with robots is limited to those that clean their floors, pools or gutters, ABI Research, in its new market study “Personal Robotics,” forecasts that the personal robotics market will grow to more than $19 billion in 2017, driven in large part by sales of telepresence and security robots featuring high-quality cameras, microphones and processors that allow the robots to serve as interactive substitutes for human beings.

The modern robotics market has existed for nearly 30 years, but within the last decade, substantial improvements in overall functionality, levels of control, and cost structures have been achieved.

While many of the advancements in robotics have been achieved in military and industrial markets where higher amounts of spending have allowed the development and commercialization of highly technical, yet costly, robots, many of the lessons learned are quickly trickling down to other market segments, including health care, business and commercial markets, and personal robotic devices.

Larry Fisher, research director of NextGen, ABI Research’s emerging technologies research incubator, notes: “Robotics vendors are beginning to introduce telepresence robots which allow the user to have a virtual presence in another location, saving business users travel time and expenses. For consumers, telepresence robots can help shut-ins join family events, or allow families to monitor and interact with the elderly or infirm in a way that a quick telephone call can’t match.”