SpotMini Just A Taste of Consumer Robotics Industry

Investing.com - As the world marveled over Boston Dynamics' robot dog SpotMini opening a door with its extendible neck and jaws, 85 robots were working at the Winter Olympic Games in South Korea, assisting athletes, directing visitors and cleaning venues.Though much has been made of robots replacing workers in factories, consumer robotics is the fastest growing segment of the industry.Global sales of consumer, or personal, robots, will triple to $13.2 billion in 2022, according to research firm Tractica.Boston Consulting Group is even more bullish, predicting sales of $23 billion by 2025.The dramatic shift of resources to the consumer segment in recent years has been driven by developments in open source software, sensors and artificial intelligence.Consumer robots are no longer simply for cleaning house or mowing lawns. They now perform more complex tasks such as home surveillance and security and tutoring. They're also capable of serving as personal assistants, home companions and health aides.Since 2012, 40% of all new robotics companies were in the consumer segment.Key players in the industry include big companies such as Samsung Electronics (KS:005930), Honda Motor, Hasbro (NASDAQ:HAS) and Sony, as well as smaller, specialized ones such as iRobot, F&P Robotics and Segway.