Date: 07/10/2010

Personal robotics market is forecasted to cross $19 Billion in 2017

ABI Research in its new market study "Personal Robotics" has forecasted that the personal robotics market to be over $19 Billion in 2017. The growth is driven 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.

ABI has also reported that the modern robotics market has existed for nearly 30 years and substantial improvements in overall functionality, levels of control, and cost structures have been achieved in the last decade. Much advancement in robotics have been achieved in military and industrial markets, lessons learnt from these advances are being applied to other market segments such as health care, business and commercial markets, and personal robotic devices.

Larry Fisher, research director of NextGen, ABI Research's emerging technologies research incubator, notes that, "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."

To date, Fisher notes, the most successful market segments in personal robotics have been the vacuum cleaner market and the entertainment market. "While a truly 'killer app' has yet to emerge in personal robots, security/telepresence and health care-related applications are likely to gain significant traction by the end of the forecast period."