A couple of years back iRobot was just a fantasy sci-fi film, but now it seems electric beings are becoming more of a reality.
According to a market research report, published by MarketsandMarkets the total global service robotics market is expected to be worth US$21 billion by 2014 as more and more people look to robots to complete everyday tasks.
The 'Global Service Robotics Market (2009 - 2014)' said the increasing ageing population concerns are driving the need for domestic and personal service robots. It put some of the growth down to the high cost of labour in developed countries and the increasing need for assisted living.
It said in its report: "As service robots are in greater proximity to humans, the technology involves more safety concerns over human-machine interaction. However, developments in the manufacture of intelligent and safer robots are expected to soon address the issues of safety, manipulation, and sensing.
"Thus, leading robotics companies have begun preparing for the day when every home will have a robot."
By 2014 the robot market is expected to be worth US$21 billion, out of which the Asia market will account for nearly 35 percent of the total revenues. The global market is also expected to record a CAGR of 49.6 percent from 2009 to 2014.
The personal domestic robotics market is the largest segment; and is expected to reach US$1.97 billion by 2014 at a CAGR of 52 percent. The high market size of domestic robots is mainly due to demand of robots for assistance in household tasks and to act as a companion. The entertainment market is estimated to be $1.85 billion in 2014. Defense, security and surveillance robots cover the large segment of the professional service robotics market. However, they are expected to be taken over by field robots by 2014.
An ageing population and continuous research has made Asia the dominant player in the service robotics market. In 2009, the market share is estimated to be 52 percent with a size of $3.7 billion. Europe is expected to have the second-highest market for service robots. However, a large consumer base of domestic robots in the U.S. and Europe makes them the most attractive market for vacuum cleaners and other domestic products.
We just hope that if we get one it'll never turn against us.