The report forecasts the global entertainment robot market to grow at a CAGR of 20.09 % during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
High R&D investments in robotics have led to the development of robotics with AI. Manufacturers are making effort to develop humanoid robots with advanced technologies that can connect to humans. Voice recognition and proprietary algorithms that can detect human's emotions from their expression are also incorporated in robots. These algorithms enable robots to learn motor tasks through trial and error methods, and closely approximate the way humans learn. These entertainment robots can understand phrases, sentences, and simple commands. They respond to preset commands as well as learn and adapt to responses as required.
According to the report, robotic toys teach and reinforce science, technology, engineering, arts, and math (STEAM) skills to children. They teach coding, language, and logical skills, and advanced mathematical concepts. Also, they are designed to encourage children to involve their parents and educators while playing. Parents and trainers appreciate robotic toys as they prepare kids to build critical-thinking, problem-solving, reasoning, and spatial skills. These toys are customized, and can be operated through smartphones, which enhances skills while entertaining the children.
Further, the report states that the need for high initial investments to design and develop robotic hampers the growth of the global entertainment robots market.