Intelligent Companion Robot Market
Intelligent Companion Robot Market Forecasts to 2030 - Global Analysis By Product Type (Humanoid Robot and Animal-Like Robot), Age Group (Children, Elderly and Other Age Groups), Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023 - 2030) |
18.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Intelligent Companion Robot Market is growing at a CAGR of 18.0% during the forecast period. An intelligent companion robot is a sophisticated artificial intelligence system designed to interact with and assist humans in various tasks while providing companionship. They serve as versatile companions, capable of engaging in conversations, offering emotional support, and adapting to the user's preferences over time. Intelligent companion robots often feature facial recognition technology to identify individuals, enabling personalized interactions that may possess a wide range of capabilities, including scheduling reminders, playing music, providing weather updates, and even assisting with daily activities such as cooking or cleaning.
According to the World Health Organization, the proportion of people aged 60 years and older is expected to double by 2050, reaching nearly 22% of the global population.
Market Dynamics:
Driver:
Rising interest in smart homes
Companion robots serve as a central hub, leveraging their capabilities to control and coordinate these devices through voice commands or other intuitive interfaces. These incorporate a variety of connected devices, including thermostats, lights, security systems, and entertainment systems. Furthermore, their ability to navigate within the home environment, coupled with AI-driven learning, allows them to adapt to users' preferences and contribute to the overall intelligence of the smart home, which enhances user convenience by offering a holistic approach to home automation, thereby propelling this market growth.
Restraint:
High cost of development
Sophisticated software algorithms for perception, cognition, and interaction require significant investments, which is driving up development costs. The production of these robots involves the procurement of high-quality materials, which raises expenses. Moreover, these costs may deter potential customers, particularly those with limited budgets or cost-sensitive markets, from considering intelligent companion robots as a viable option. This poses a challenge for potential buyers to acquire these robots, which significantly hinders this market expansion.
Opportunity:
Increased social acceptance of robotics
Positive portrayals of robots in media and the successful deployment of robotic technologies in diverse applications contribute to acceptance. As robotics becomes more commonplace, especially in industrial, healthcare, and consumer settings, people are becoming accustomed to the idea of interacting with robots. In addition, the normalization of robotic interactions in society helps mitigate skepticism and fear, paving the way for a broader adoption of companion robots by individuals in various aspects of daily life, thereby driving market growth.
Threat:
Lack of standardization
The seamless integration suffers from the lack of common procedures, interfaces, and protocols among various manufacturers and models. Different manufacturers may employ different operating systems, making it challenging to establish compatibility and seamless interaction between intelligent companion robots and other devices or software systems. Moreover, this lack of standardization limits the availability of third-party applications and limits the overall functionality and versatility of intelligent companion robots, which are hindering market growth.
Covid-19 Impact
The COVID-19 pandemic has had a notable negative impact on the intelligent companion robot market, stemming from economic uncertainties, disrupted supply chains, and altered consumer priorities. Supply chain disruptions have impeded the manufacturing and distribution of these sophisticated robots, causing delays and shortages. Moreover, it induced financial constraints for individuals and businesses, potentially reducing discretionary spending on non-essential items, including companion robots, and significantly hampering market growth.
The humanoid robot segment is expected to be the largest during the forecast period
The humanoid robot segment is estimated to hold the largest share, due to a category of robots designed to mimic human-like appearance and behaviour, enhancing the overall companionship experience. They are typically featuring a human-inspired form, including a head, torso, limbs, and often a face with expressive features. In addition, their anthropomorphic design enables them to navigate human environments more seamlessly, fostering a sense of familiarity and comfort. These often integrate advanced facial recognition and gesture analysis which are boosting this segment’s expansion.
The domestic assistance segment is expected to have the highest CAGR during the forecast period
The domestic assistance segment is anticipated to have the highest CAGR during the forecast period due to the fact that these robots are equipped with advanced technologies to perform various domestic tasks, catering to the increasing demand for smart home solutions. These robots often feature sensors for navigation, object recognition, and obstacle avoidance, allowing them to move autonomously within indoor spaces. Furthermore, domestic assistance robots may integrate connectivity with smart home devices, enabling users to control and coordinate tasks through voice commands or mobile applications, which are driving this segment’s growth.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period, owing to substantial advancements in technology and a burgeoning interest in robotics. These robots include factors such as rising disposable income, an aging population, and a cultural receptivity to technological innovations. In addition, countries in the Asia-Pacific region, including Japan, South Korea, and China, have emerged as key players in the development and adoption of intelligent companion robots. It plays a pivotal role in shaping the global landscape of human-robot interaction and the broader field of robotics, which is propelling this region’s growth.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period, owing to a robust ecosystem of innovation and adoption. These robots have found applications in healthcare facilities, educational institutions, and households, reflecting the versatility and adaptability of these robotic companions. Furthermore, the region's advancements extend beyond hardware to encompass sophisticated software, machine learning algorithms, and natural language processing, shaping the global landscape of human-robot interaction, which is gradually driving this region's size.
Key players in the market
Some of the key players in the Intelligent Companion Robot Market include Ingen Dynamics, Luvozo, Ubtech, Emotix, Jibo, Blue Frog Robotics & Buddy ASUS, PARO Robots USA, Inc., Intuition Robotics, Hanson Robotics, Honda Robotics, Dupont, Krones, Emerson, Dow, Toyota, Consumer Electronics Show (CES), No Isolation, Elemental Path, DFRobot and Zenbo.
Key Developments:
In December 2023, Toyota Motor Corporation (TMC) announced a significant regional restructuring, reemphasizing the pivotal role of India in the company's global strategy.
In October 2023, Emerson announced it has closed its acquisition of NI, a leading provider of software-connected automated test and measurement systems, at an equity value of $8.2 billion.
In September 2023, Dow collaborates with LanzaTech to launch readily bio-degradable cleaning solution that utilizes circular carbon capture
In July 2023, Hitachi Automotive Systems, Ltd. and Honda Motor Co., Ltd. announced the establishment of a joint venture company for the development, manufacture and sales of motors for electric vehicles on the premises of Hitachi Automotive Systems in Hitachinaka-shi, Ibaraki Prefecture.
Product Types Covered:
• Humanoid Robot
• Animal-Like Robot
Age Groups Covered:
• Children
• Elderly
• Other Age Groups
Applications Covered:
• Domestic Assistance
• Healthcare & Rehabilitation
• Entertainment & Companionship
• Customer Service & Hospitality
• Education & Learning
• Elderly Care & Assistance
• Other Applications
End Users Covered:
• Residential
• Commercial
• Personal Use
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Intelligent Companion Robot Market, By Product Type
5.1 Introduction
5.2 Humanoid Robot
5.3 Animal-Like Robot
6 Global Intelligent Companion Robot Market, By Age Group
6.1 Introduction
6.2 Children
6.3 Elderly
6.4 Other Age Groups
7 Global Intelligent Companion Robot Market, By Application
7.1 Introduction
7.2 Domestic Assistance
7.3 Healthcare & Rehabilitation
7.4 Entertainment & Companionship
7.5 Customer Service & Hospitality
7.6 Education & Learning
7.7 Elderly Care & Assistance
7.8 Other Applications
8 Global Intelligent Companion Robot Market, By End User
8.1 Introduction
8.2 Residential
8.3 Commercial
8.4 Personal Use
8.5 Other End Users
9 Global Intelligent Companion Robot Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Ingen Dynamics
11.2 Luvozo
11.3 Ubtech
11.4 Emotix
11.5 Jibo
11.6 Blue Frog Robotics & Buddy ASUS
11.7 PARO Robots USA, Inc.
11.8 Intuition Robotics
11.9 Hanson Robotics
11.10 Honda Robotics
11.11 Dupont
11.12 Krones
11.13 Emerson
11.14 Dow
11.15 Toyota
11.16 Consumer Electronics Show (CES)
11.17 No Isolation
11.18 Elemental Path
11.19 DFRobot
11.20 Zenbo
List of Tables
1 Global Intelligent Companion Robot Market Outlook, By Region (2021-2030) ($MN)
2 Global Intelligent Companion Robot Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Intelligent Companion Robot Market Outlook, By Humanoid Robot (2021-2030) ($MN)
4 Global Intelligent Companion Robot Market Outlook, By Animal-Like Robot (2021-2030) ($MN)
5 Global Intelligent Companion Robot Market Outlook, By Age Group (2021-2030) ($MN)
6 Global Intelligent Companion Robot Market Outlook, By Children (2021-2030) ($MN)
7 Global Intelligent Companion Robot Market Outlook, By Elderly (2021-2030) ($MN)
8 Global Intelligent Companion Robot Market Outlook, By Other Application (2021-2030) ($MN)
9 Global Intelligent Companion Robot Market Outlook, By Application (2021-2030) ($MN)
10 Global Intelligent Companion Robot Market Outlook, By Domestic Assistance (2021-2030) ($MN)
11 Global Intelligent Companion Robot Market Outlook, By Healthcare & Rehabilitation (2021-2030) ($MN)
12 Global Intelligent Companion Robot Market Outlook, By Entertainment & Companionship (2021-2030) ($MN)
13 Global Intelligent Companion Robot Market Outlook, By Customer Service & Hospitality (2021-2030) ($MN)
14 Global Intelligent Companion Robot Market Outlook, By Education & Learning (2021-2030) ($MN)
15 Global Intelligent Companion Robot Market Outlook, By Elderly Care & Assistance (2021-2030) ($MN)
16 Global Intelligent Companion Robot Market Outlook, By Other Applications (2021-2030) ($MN)
17 Global Intelligent Companion Robot Market Outlook, By End User (2021-2030) ($MN)
18 Global Intelligent Companion Robot Market Outlook, By Residential (2021-2030) ($MN)
19 Global Intelligent Companion Robot Market Outlook, By Commercial (2021-2030) ($MN)
20 Global Intelligent Companion Robot Market Outlook, By Personal Use (2021-2030) ($MN)
21 Global Intelligent Companion Robot Market Outlook, By Other End Users (2021-2030) ($MN)
22 North America Intelligent Companion Robot Market Outlook, By Country (2021-2030) ($MN)
23 North America Intelligent Companion Robot Market Outlook, By Product Type (2021-2030) ($MN)
24 North America Intelligent Companion Robot Market Outlook, By Humanoid Robot (2021-2030) ($MN)
25 North America Intelligent Companion Robot Market Outlook, By Animal-Like Robot (2021-2030) ($MN)
26 North America Intelligent Companion Robot Market Outlook, By Age Group (2021-2030) ($MN)
27 North America Intelligent Companion Robot Market Outlook, By Children (2021-2030) ($MN)
28 North America Intelligent Companion Robot Market Outlook, By Elderly (2021-2030) ($MN)
29 North America Intelligent Companion Robot Market Outlook, By Other Application (2021-2030) ($MN)
30 North America Intelligent Companion Robot Market Outlook, By Application (2021-2030) ($MN)
31 North America Intelligent Companion Robot Market Outlook, By Domestic Assistance (2021-2030) ($MN)
32 North America Intelligent Companion Robot Market Outlook, By Healthcare & Rehabilitation (2021-2030) ($MN)
33 North America Intelligent Companion Robot Market Outlook, By Entertainment & Companionship (2021-2030) ($MN)
34 North America Intelligent Companion Robot Market Outlook, By Customer Service & Hospitality (2021-2030) ($MN)
35 North America Intelligent Companion Robot Market Outlook, By Education & Learning (2021-2030) ($MN)
36 North America Intelligent Companion Robot Market Outlook, By Elderly Care & Assistance (2021-2030) ($MN)
37 North America Intelligent Companion Robot Market Outlook, By Other Applications (2021-2030) ($MN)
38 North America Intelligent Companion Robot Market Outlook, By End User (2021-2030) ($MN)
39 North America Intelligent Companion Robot Market Outlook, By Residential (2021-2030) ($MN)
40 North America Intelligent Companion Robot Market Outlook, By Commercial (2021-2030) ($MN)
41 North America Intelligent Companion Robot Market Outlook, By Personal Use (2021-2030) ($MN)
42 North America Intelligent Companion Robot Market Outlook, By Other End Users (2021-2030) ($MN)
43 Europe Intelligent Companion Robot Market Outlook, By Country (2021-2030) ($MN)
44 Europe Intelligent Companion Robot Market Outlook, By Product Type (2021-2030) ($MN)
45 Europe Intelligent Companion Robot Market Outlook, By Humanoid Robot (2021-2030) ($MN)
46 Europe Intelligent Companion Robot Market Outlook, By Animal-Like Robot (2021-2030) ($MN)
47 Europe Intelligent Companion Robot Market Outlook, By Age Group (2021-2030) ($MN)
48 Europe Intelligent Companion Robot Market Outlook, By Children (2021-2030) ($MN)
49 Europe Intelligent Companion Robot Market Outlook, By Elderly (2021-2030) ($MN)
50 Europe Intelligent Companion Robot Market Outlook, By Other Application (2021-2030) ($MN)
51 Europe Intelligent Companion Robot Market Outlook, By Application (2021-2030) ($MN)
52 Europe Intelligent Companion Robot Market Outlook, By Domestic Assistance (2021-2030) ($MN)
53 Europe Intelligent Companion Robot Market Outlook, By Healthcare & Rehabilitation (2021-2030) ($MN)
54 Europe Intelligent Companion Robot Market Outlook, By Entertainment & Companionship (2021-2030) ($MN)
55 Europe Intelligent Companion Robot Market Outlook, By Customer Service & Hospitality (2021-2030) ($MN)
56 Europe Intelligent Companion Robot Market Outlook, By Education & Learning (2021-2030) ($MN)
57 Europe Intelligent Companion Robot Market Outlook, By Elderly Care & Assistance (2021-2030) ($MN)
58 Europe Intelligent Companion Robot Market Outlook, By Other Applications (2021-2030) ($MN)
59 Europe Intelligent Companion Robot Market Outlook, By End User (2021-2030) ($MN)
60 Europe Intelligent Companion Robot Market Outlook, By Residential (2021-2030) ($MN)
61 Europe Intelligent Companion Robot Market Outlook, By Commercial (2021-2030) ($MN)
62 Europe Intelligent Companion Robot Market Outlook, By Personal Use (2021-2030) ($MN)
63 Europe Intelligent Companion Robot Market Outlook, By Other End Users (2021-2030) ($MN)
64 Asia Pacific Intelligent Companion Robot Market Outlook, By Country (2021-2030) ($MN)
65 Asia Pacific Intelligent Companion Robot Market Outlook, By Product Type (2021-2030) ($MN)
66 Asia Pacific Intelligent Companion Robot Market Outlook, By Humanoid Robot (2021-2030) ($MN)
67 Asia Pacific Intelligent Companion Robot Market Outlook, By Animal-Like Robot (2021-2030) ($MN)
68 Asia Pacific Intelligent Companion Robot Market Outlook, By Age Group (2021-2030) ($MN)
69 Asia Pacific Intelligent Companion Robot Market Outlook, By Children (2021-2030) ($MN)
70 Asia Pacific Intelligent Companion Robot Market Outlook, By Elderly (2021-2030) ($MN)
71 Asia Pacific Intelligent Companion Robot Market Outlook, By Other Application (2021-2030) ($MN)
72 Asia Pacific Intelligent Companion Robot Market Outlook, By Application (2021-2030) ($MN)
73 Asia Pacific Intelligent Companion Robot Market Outlook, By Domestic Assistance (2021-2030) ($MN)
74 Asia Pacific Intelligent Companion Robot Market Outlook, By Healthcare & Rehabilitation (2021-2030) ($MN)
75 Asia Pacific Intelligent Companion Robot Market Outlook, By Entertainment & Companionship (2021-2030) ($MN)
76 Asia Pacific Intelligent Companion Robot Market Outlook, By Customer Service & Hospitality (2021-2030) ($MN)
77 Asia Pacific Intelligent Companion Robot Market Outlook, By Education & Learning (2021-2030) ($MN)
78 Asia Pacific Intelligent Companion Robot Market Outlook, By Elderly Care & Assistance (2021-2030) ($MN)
79 Asia Pacific Intelligent Companion Robot Market Outlook, By Other Applications (2021-2030) ($MN)
80 Asia Pacific Intelligent Companion Robot Market Outlook, By End User (2021-2030) ($MN)
81 Asia Pacific Intelligent Companion Robot Market Outlook, By Residential (2021-2030) ($MN)
82 Asia Pacific Intelligent Companion Robot Market Outlook, By Commercial (2021-2030) ($MN)
83 Asia Pacific Intelligent Companion Robot Market Outlook, By Personal Use (2021-2030) ($MN)
84 Asia Pacific Intelligent Companion Robot Market Outlook, By Other End Users (2021-2030) ($MN)
85 South America Intelligent Companion Robot Market Outlook, By Country (2021-2030) ($MN)
86 South America Intelligent Companion Robot Market Outlook, By Product Type (2021-2030) ($MN)
87 South America Intelligent Companion Robot Market Outlook, By Humanoid Robot (2021-2030) ($MN)
88 South America Intelligent Companion Robot Market Outlook, By Animal-Like Robot (2021-2030) ($MN)
89 South America Intelligent Companion Robot Market Outlook, By Age Group (2021-2030) ($MN)
90 South America Intelligent Companion Robot Market Outlook, By Children (2021-2030) ($MN)
91 South America Intelligent Companion Robot Market Outlook, By Elderly (2021-2030) ($MN)
92 South America Intelligent Companion Robot Market Outlook, By Other Application (2021-2030) ($MN)
93 South America Intelligent Companion Robot Market Outlook, By Application (2021-2030) ($MN)
94 South America Intelligent Companion Robot Market Outlook, By Domestic Assistance (2021-2030) ($MN)
95 South America Intelligent Companion Robot Market Outlook, By Healthcare & Rehabilitation (2021-2030) ($MN)
96 South America Intelligent Companion Robot Market Outlook, By Entertainment & Companionship (2021-2030) ($MN)
97 South America Intelligent Companion Robot Market Outlook, By Customer Service & Hospitality (2021-2030) ($MN)
98 South America Intelligent Companion Robot Market Outlook, By Education & Learning (2021-2030) ($MN)
99 South America Intelligent Companion Robot Market Outlook, By Elderly Care & Assistance (2021-2030) ($MN)
100 South America Intelligent Companion Robot Market Outlook, By Other Applications (2021-2030) ($MN)
101 South America Intelligent Companion Robot Market Outlook, By End User (2021-2030) ($MN)
102 South America Intelligent Companion Robot Market Outlook, By Residential (2021-2030) ($MN)
103 South America Intelligent Companion Robot Market Outlook, By Commercial (2021-2030) ($MN)
104 South America Intelligent Companion Robot Market Outlook, By Personal Use (2021-2030) ($MN)
105 South America Intelligent Companion Robot Market Outlook, By Other End Users (2021-2030) ($MN)
106 Middle East & Africa Intelligent Companion Robot Market Outlook, By Country (2021-2030) ($MN)
107 Middle East & Africa Intelligent Companion Robot Market Outlook, By Product Type (2021-2030) ($MN)
108 Middle East & Africa Intelligent Companion Robot Market Outlook, By Humanoid Robot (2021-2030) ($MN)
109 Middle East & Africa Intelligent Companion Robot Market Outlook, By Animal-Like Robot (2021-2030) ($MN)
110 Middle East & Africa Intelligent Companion Robot Market Outlook, By Age Group (2021-2030) ($MN)
111 Middle East & Africa Intelligent Companion Robot Market Outlook, By Children (2021-2030) ($MN)
112 Middle East & Africa Intelligent Companion Robot Market Outlook, By Elderly (2021-2030) ($MN)
113 Middle East & Africa Intelligent Companion Robot Market Outlook, By Other Application (2021-2030) ($MN)
114 Middle East & Africa Intelligent Companion Robot Market Outlook, By Application (2021-2030) ($MN)
115 Middle East & Africa Intelligent Companion Robot Market Outlook, By Domestic Assistance (2021-2030) ($MN)
116 Middle East & Africa Intelligent Companion Robot Market Outlook, By Healthcare & Rehabilitation (2021-2030) ($MN)
117 Middle East & Africa Intelligent Companion Robot Market Outlook, By Entertainment & Companionship (2021-2030) ($MN)
118 Middle East & Africa Intelligent Companion Robot Market Outlook, By Customer Service & Hospitality (2021-2030) ($MN)
119 Middle East & Africa Intelligent Companion Robot Market Outlook, By Education & Learning (2021-2030) ($MN)
120 Middle East & Africa Intelligent Companion Robot Market Outlook, By Elderly Care & Assistance (2021-2030) ($MN)
121 Middle East & Africa Intelligent Companion Robot Market Outlook, By Other Applications (2021-2030) ($MN)
122 Middle East & Africa Intelligent Companion Robot Market Outlook, By End User (2021-2030) ($MN)
123 Middle East & Africa Intelligent Companion Robot Market Outlook, By Residential (2021-2030) ($MN)
124 Middle East & Africa Intelligent Companion Robot Market Outlook, By Commercial (2021-2030) ($MN)
125 Middle East & Africa Intelligent Companion Robot Market Outlook, By Personal Use (2021-2030) ($MN)
126 Middle East & Africa Intelligent Companion Robot Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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