Multiple media reports say that technology giant Amazon (AMZN) is developing a “home robot” that’s aimed at making life easier for consumers.
The reports say that over the past several months, Seattle-based Amazon has assembled a team that’s working on a new robot product that will target consumers in their homes.
The e-commerce giant isn’t new to consumer robots. In 2021, Amazon launched the Astro robot that costs $1,450 U.S.
However, Astro never caught on with the public. The robot is essentially an Alexa-equipped tablet on wheels that can autonomously navigate a home and acts as a security monitor.
Despite the lukewarm reception to Astro, Amazon isn’t giving up on consumer-focused robots.
Amazon CEO Andy Jassy recently said in his annual letter to shareholders that artificial intelligence (A.I.) and robotics were among the “biggest inflections of our lifetime.”
Wall Street analysts see the humanoid robot market exploding in coming years.
British bank Barclays (BCS) has forecast that the global market for humanoid robots will rise from $2 billion U.S. to $40 billion U.S. in annual revenues by 2035.
Earlier this year, Amazon redeployed much of the team behind Astro and brought in a robotics expert to work on the home robot project.
Amazon also recently bought Fauna Robotics, which has built a 3.5-foot-tall robot called “Sprout.”
Since buying Fauna Robotics, Amazon has formed a new division internally called the “Personal Robotics Group.”
It’s unclear what kind of home robot Amazon is developing. But a recent job posting said it wants to hire an engineer who can help “create robots that are not just functional, but delightful.”
AMZN stock has gained 4% in the last 12 months to trade at $259.30 U.S. per share.
