NEW YORK, May 31, 2024 /PRNewswire/ — The global robotic pet dogs market size is estimated to grow by USD 608.53 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.78% during the forecast period.
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Technavio has announced its latest market research report titled Global Robotic Pet Dogs Market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Distribution Channel (Offline and Online), Type (Movable robots and Stationary robots), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
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Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key companies profiled |
Ageless Innovation, ANYbotics, BIRANCO Ltd., Consequential Robotics Ltd., Contixo Inc., Dimple nyc., Ghost Robotics Corp., HangZhou YuShu TECHNOLOGY CO LTD., Hyundai Motor Co., LEGO System AS, Petoi LLC, RobotShop Inc., Silverlit Toys Manufactory Ltd., Sony Group Corp., SoundOriginal Electronics Co. Ltd., Tech Age Kids , Tombot Inc., WEofferwhatYOUwant, WowWee Group Ltd., and Oz Robotics |
Key Market Trends Fueling Growth
Robotic pet dogs represent a significant market growth opportunity for vendors. They invest in various marketing strategies, including digital and social media, to expand consumer reach. With increasing Internet penetration and smartphone usage, consumers prefer detailed product information online. Multi-channel marketing approaches enhance brand visibility and provide a wide product selection, positively impacting the global robotic pet dogs market.
The robotic pet dog market is experiencing significant growth with advanced technologies and features. Robotic dogs come in various sizes and designs, providing companionship and interaction for consumers. These pets can perform tasks such as following commands, playing music, and even recognizing faces. Demand for robotic dogs is driven by their ability to provide companionship and entertainment, especially for seniors and children.
Companies are investing in research and development to create more realistic and intelligent robotic dogs. The use of artificial intelligence and machine learning algorithms enables these pets to learn and adapt to their environment. The market is expected to continue growing due to increasing disposable income and the desire for advanced technology.
Market Challenges
Robotic pet dogs with advanced features, such as Sony Aibo, carry hefty price tags due to integrated technology. These dogs come equipped with touch sensors, cameras, microphones, and motion detectors, along with 1- and 2-axis actuators for movement along 22 axes. The high cost may hinder market expansion in developing regions during the forecast period.
The robotic pet dogs market is experiencing significant growth, with companies producing various models. However, challenges persist in this industry. One challenge is ensuring the robotic dogs’ behavior and responses are realistic and engaging for users. Another challenge is the cost of production, making it difficult for some companies to offer affordable prices.
Additionally, the need for regular updates and maintenance adds to the overall cost. Furthermore, privacy concerns regarding data collection and usage in these devices are becoming increasingly important. Addressing these challenges will be crucial for the continued success of the robotic pet dogs market.
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Segment Overview
Distribution Channel
1.1 Offline
1.2 Online
Type
2.1 Movable robots
2.2 Stationary robots
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Offline- The global robotic pet dogs market is driven by the offline distribution channel, which includes sales through specialty stores, hypermarkets, supermarkets, convenience stores, and department stores. In 2022, specialty stores held the largest market share, offering a wide range of brands and price points. Hypermarkets and supermarkets followed, providing competitive pricing and a variety of stock-keeping units. Department stores, as one-stop shopping solutions, also contributed significantly to the market’s growth. Vendors are expanding their offline presence to increase sales and reduce distribution costs, leading to a moderate market growth rate.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The robotic pet dogs market represents a significant growth opportunity within the pet industry, particularly for individuals dealing with conditions such as Dementia and Alzheimer’s disease. These cutting-edge gadgets, which mimic the behavior and appearance of real dogs, serve as interactive and artificially intelligent pet companions. Sales analysis indicates that the pet ownership sector, including the pet feeding sub-segment, contributes substantially to the consumer products sector.
The application segment of robotic pet companions, which includes robotic pet dogs, is expected to witness robust growth due to the increasing demand for advanced technology and innovative solutions in pet care. The market for pet industry sales, as reported by the American Pet Products Association (APPA), continues to expand, driven in part by the popularity of robotic pet dogs and other cutting-edge robotics used for pet care, such as cleaning and veterinary assistance.
Market Research Overview
The Robotic Pet Dogs market is experiencing significant growth due to the increasing demand for advanced and intelligent companionship. These robotic pets mimic the behavior and appearance of real dogs, providing companionship, entertainment, and even emotional support. They come equipped with features such as voice recognition, motion sensors, and programmable actions, making them highly interactive and engaging.
Robotic pet dogs are also designed to be low-maintenance, as they do not require feeding, walking, or grooming like real dogs. The market for these robotic pets is driven by factors such as the aging population seeking companionship, the rise of technology adoption, and the increasing trend towards pet automation. The future of the Robotic Pet Dogs market looks promising, with continuous advancements in technology leading to more sophisticated and lifelike robotic pets.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Distribution Channel
Offline
Online
Type
Movable Robots
Stationary Robots
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio