Global Social Robots Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at xx % through 2020 to 2027, reaching US$ XX Mn.
Global Social Robots Market Overview:
A framework of artificial intelligence (AI) built to communicate with humans and other robots can be referred to as social robots. Social robots at the workplace can quickly replace potential job functions such as greeting and simple customer service. With a phone, a social robot can be controlled. In the workplace, interactive robots can act effectively, such as a telepresence representative at a corporate meeting or a partner in a healthcare facility. Demand from the governments of many nations for social robots that run independently has grown. For traffic control, India is deploying social robots. Social robots are also used in video monitoring for automatic detection. Tutoring, telepresence, companionship, and client interaction are some of the main applications of social robots. BFSI businesses are introducing social robots in the workplace in this dynamic era. Job functions such as client interaction and tutoring are conducted by social robots in many banks. With social robots, costs as well as time for people at workplaces can be highly optimized. For instance, In October 2019, Diligent Robotics Inc. raised approximately US$ 3 Mn in seed funding. The company has already tested its Moxi robot, which is designed for helping hospital personnel. Increased demand for automation systems in the automotive and industrial sectors is expected to generate revenue opportunities for manufacturers of Social Robots.
The Lynx robot maker, Ubtech, is also very interested in developing its line of humanoid robots, such as Cruzr, which is also in the pipeline. The first product of Intuition Robotics, ElliQ, an award-winning constructive social robot for older adults, is currently in beta testing in the U.S.
Based on Offering, Social Robots market is segmented by Hardware, Software, and Services. Services dominated Social Robots market with rising usage of number of services offerings among the organizations and individuals. Based on industry verticals, healthcare is the leading segment because of the emotional and personality characteristics provided and thus serving patients as possible companions, the emergence of assistive technologies such as telecare, proactive services systems, household robots, among others that enable the elderly population to live independently in their homes, and care facilities, has further expanded the reach of social robot.
The Social Robots market in North America is anticipated to account for the highest revenue share contribution and projected to maintain its dominance in the target market during the forecast period. The attributing factor is due to the adoption of robots across industries and advanced technologies, including the rise of chronic diseases and ageing population, such as AI, NLP, among others. Asia Pacific region is projected to register the fastest growth rate in the target market due to the presence of large industrial bases for electronic production in China, Japan, Korea and digitalizing the infrastructure in the region.
Global Social Robots Market 1
The objective of the report is to present a comprehensive analysis of the Global Social Robots Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Social Robots Market dynamics, structure by analyzing the market segments and projects the Global Social Robots Market size. Clear representation of competitive analysis of key players by Offering, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Social Robots Market make the report investor’s guide.
Scope of Global Social Robots Market
Global Social Robots Market, By Offering
Global Social Robots Market, By Industry Verticals
• Government & Defence
• IT & Telecommunications
• Media & Entertainment
• Banking Financial Services and Insurance
Global Social Robots Market, by Region
• North America
• ME & Africa
• Latin America
Global Social Robots Market Key Players
• SoftBank Robotics
• Diligent Robotics Inc
• UBTECH Robotics, Inc.
• Boston Dynamics
• Knightscope, Inc
• Haapie SAS
• BLUE FROG ROBOTICS & BUDDY
• Intuition Robotics
• InGen Dynamics Inc.
• No Isolation
• Movia Robotics
• Furhat Robotics
• Embodied, Inc.
• Catalia Health Inc.
• PARO Robots
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