LG Electronics announced plans to initially target the B2B robotics market in academia and manufacturing, with a significant expansion into humanoid and home robots expected around 2030.
During a conference call on October 28, the company stated, "Our robotics business will focus on sectors where the market is anticipated to develop first, such as academia, public services, and manufacturing." They added that they plan to ramp up their humanoid robot initiatives around 2030, when the market is expected to mature.
Regarding home robots, LG emphasized the importance of entering the market naturally, leveraging their existing strengths in home appliances. They noted, "It is crucial to consider pricing that would make home robots a viable purchase for consumers before the market fully develops."
As for revenue goals, LG cited a global consulting firm's projection that the robotics market will grow to $32 billion by 2031 and $255 billion by 2035, with an average annual growth rate of 21%. The company aims to secure a leading position in the market through agile responses and proactive business strategies.
* This article has been translated by AI.
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