What is Robotic Pet Cats Market?
Robotic pet cats are pre-assembled and pre-programmed robots that have personal applications. The robot-human interface in robotic pet cats is designed in a way that even consumers with less knowledge on robotics can operate them effectively and conveniently. The robocat is designed to mimic a real animal. It miaows, semi-convincingly, and it purrs, very convincingly. It's fluffy and nice to stroke and the cats have built-in sensors that respond to motion and touch, and their fur looks and feels like that of a real cat. Further, The benefits of animal companionship for human well-being and technological advancement in interactive computing and virtual reality are driving the Global Robotic pet cats market.
Highlights from Robotic Pet Cats Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Hasbro, Inc. (United States), Spin Master Ltd. (Canada), WowWee Group Limited (China), Consequential Robotics Ltd. (United Kingdom), Ihoven (China), MGA Entertainment (United States), Tekno Robotics (United Kingdom) and WEofferwhatYOUwant (China) |
The market is fragmented with numerous players. The key players are highly focused on innovation in production technologies to improve efficiency and shelf life. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in optimal strategies. For instance, In 2017
Hasbro, Inc. (United States), Spin Master Ltd. (Canada), WowWee Group Limited (China), Consequential Robotics Ltd. (United Kingdom), Ihoven (China), MGA Entertainment (United States), Tekno Robotics (United Kingdom) and WEofferwhatYOUwant (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are RobotXperience.com (Netherlands), Ageless Inovation LLC (United States) and Pebby (United States). Robotic Pet Cats Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Specialty Stores, Department Stores, Online Retail and Others |
Type | Multifunctional and Monofunctional |
Technology | Sensors,Voice Recognition Algorithms,Proprietary Algorithms,Others |
On the basis of geography, the market of Robotic Pet Cats has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Significant Therapeutic Effects, Development of Robotic Pet Toys Coupled with AI (Artificial Intelligence) and The Advent of Solar Powered Robotics Pet Cats
Market Growth Drivers:
Rising Ageing Population, Owing to Companionship, Increased Focus on Robotics Research by Research Organizations, Growing Demand for Robotic Pets from Pet Lovers and Robotic Pets as a Substitute for Living Companion Animals like Cats
Challenges:
Robotic Pet Cats Need to Be Immediately Understandable to an Audience that Can Be Low and Technical Savvy
Restraints:
High Initial Investment and Servicing Cost
Opportunities:
Growth in E-commerce Industry and Technological Advancement in Robotic Industry such as Fourth Generation Model of AIBO (Artificial Intelligence Bots) Series Pet Toys
Key Target Audience
Robotic Pet Cats Manufacturers, Raw Material and Suppliers, Traders or Distributors, Manufacturing Cost Structure Analysis of Robotic Pet Cats, Manufacturing Process Analysis of Robotic Pet Cats, Industry Associations, Downstream Vendors, Potential Investors and Government and Regulatory Agencies
Market Leaders & Development Strategies
In July 2018, The National Science Foundation of the United States has awarded a grant of USD 1 million to develop the toy companions, especially the cats, to be more responsive and lifelike to Browns University. Hasbro Company has collaborated with Hasbro Company. and Hasbro, one of the world’s largest toy manufacturers, is developing robotic cats and dogs that it says will be better able to keep people company.
In March 2017, Pebby Company introduced its smart robotic pet sitter system, which allows owners to monitor, interact with and entertain their pets anytime, anywhere in the world. and A combination of a smart collar and Wi-Fi controlled "ball" that follows pets around, Pebby puts pet owners minds at ease as it tracks their furry loved one's activities and sends key insights about their behavior and health to the Pebby companion application.