Social Robots Market Size Was Valued at USD 4.19 Billion in 2023 and is Projected to Reach USD 60.73 Billion by 2032, Growing at a CAGR of 34.59% From 2024-2032.
Social robots are uncrewed vehicles designed for social interactions and capable of communicating with people. These robots possess genuine AI and sensors that enable them to identify, assess, and engage with individuals' emotions and behaviors. The suggested functions of robots involve social engagement and recreation, assisting in healthcare and educational settings; the overarching aim is to enhance human living standards and social connections in a more technology-oriented society.
The social robot market has been expanding swiftly and diversifying its product offerings in recent years, driven by advancements and enhancements in artificial intelligence, robotics, and human-computer interaction technologies. Social robots aim to engage in direct interaction and communication with humans to foster stronger connections. It is currently a developing market that encompasses various applications and industries, including healthcare, education, entertainment, retail, and hospitality.
Top Key Players Covered in The Social Robots Market
Reach Robotics Limited (UK), Intuition Robotics Ltd. (Israel), Inrobics (USA), Furhat Robotics AB (Sweden), Embodied, Inc (USA), Catalia Health, Inc (USA), Movia Robotics, Inc (USA), Sony Corporation (Japan), Knightscope, Inc (USA), Blue Frog Robotics & Buddy (France), Haapie SAS (France), Other Key Players.
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Social Robots Market Trend Analysis
The application of AI and machine learning in the social robot industry represents a significant breakthrough in social robots, potentially enhancing the functionality and efficiency of robotic systems designed to interact with people. These technologies enable social robots to adapt their behavior based on interactions, learn, and anticipate human needs or emotions, thereby enhancing their capabilities in roles such as friendship, caregiving, teaching, interpreting, and providing services. Particular uses of AI include NLP for improving communication, face and gesture recognition for interaction, and analysis for personalizing responses and actions.
Segmentation Analysis of the Social Robots Market
Social Robots Market Segmented based on Technology Type, and End-User.
By Technology Type
- Humanoid Robots
- Non-Humanoid Robots
By End Use Healthcare
- Education
- Entertainment
- Retail
- Other
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Social Robots Market Regional Insights:
The Asia Pacific area is expected to dominate all other regions in the social robots market throughout the specified timeframe. There are various principles that characterize this leadership. To begin with, the nations in the Asia Pacific region are leading in the advancement of technologies and robotics, with Japan, South Korea, and China being the most prominent examples. These countries possess advanced R&D capabilities supported by substantial funding from both governmental and private entities.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Offerings of Social Robots Market:
- Trend and forecast analysis: Market trends, forecast, and Analysis to 2023 by segments and regions
- Segmentation analysis: Market size by various applications such as product, material, shape, and end use in terms of value and volume shipment.
- Regional analysis: Global Social Robots market breakdown by “North & South America, Europe, Asia Pacific, Middle East and the Rest of the World”.
- Growth opportunities: Analysis of growth opportunities in different applications and regions in the Global Social Robots Market
- Strategic analysis: This includes new product development and competitive landscape in the Global Social Robots Market
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