Global Social Robot Market Growth, Share, Size, Trends and Forecast (2024 - 2030)
By End-User Vertical;
Healthcare, Education, Entertainment, Retail, and Others.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).Introduction
Global Social Robot Market (USD Million), 2020 - 2030
In the year 2023, the Global Social Robot Market was valued at USD 4,438.41 million. The size of this market is expected to increase to USD 34,431.89 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 34.0%.
One of the key drivers propelling the growth of the social robot market is the rising demand for companion robots to address social isolation and loneliness among the elderly population. With demographic shifts leading to an increase in the aging population globally, there is a growing need for solutions that can provide companionship and support to seniors. Social robots equipped with conversational abilities, emotional intelligence, and even physical assistance capabilities are being developed to cater to this demographic segment, offering companionship, entertainment, and assistance with daily tasks. Social robots are finding applications in therapeutic settings, where they are being used to support individuals with autism spectrum disorder (ASD), dementia, and other cognitive or developmental disabilities. These robots can engage users in interactive activities, provide cognitive stimulation, and facilitate social skills development, complementing traditional therapy approaches and improving overall quality of life for individuals with special needs.
Social robots are being deployed in educational settings to enhance learning experiences and promote engagement among students. Interactive robots equipped with educational content and personalized learning capabilities can adapt to individual learning styles, provide feedback, and facilitate collaborative learning activities, thereby augmenting traditional teaching methods and fostering a more interactive and immersive learning environment. The retail and hospitality sectors are also embracing social robots to enhance customer experiences and streamline service delivery. From providing information and assistance to customers in stores and hotels to serving as entertainment or greeters, social robots are adding a new dimension to customer interactions, enhancing brand engagement, and differentiating businesses in competitive markets.
Global Social Robot Market Recent Developments & Report Snapshot
Recent Developments:
- In March 2022, Intuition Robotics Ltd announced the official commercial launch of its ElliQ digital care companion. The social robot is designed to help older adults be more physically active and socially engaged, enabling them to have happier, more independent lives. Intuition Robotics has spent more than five years developing and beta-testing ElliQ with older adults. ElliQ is designed to connect older adults to their families, caregivers, and the outside world through behavioral sciences, combining psychology and advanced cognitive AI capabilities. The robot is designed specifically for the older population living alone. ElliQ has shown it effectively alleviates feelings of loneliness and social isolation.
- In March 2022, Scientists from the Faculty of Engineering, Information, and Systems at the University of Tsukuba designed a text message mediation robot to help users control their anger when receiving disheartening news. The robot may help improve social interactions moving toward a world with increasing digital communications. The robot was deployed as a mediator for reading text messages. A text with unwelcome or frustrating news could be followed by an appeal by OMOY not to get upset or even sympathy for the user.
Parameters | Description |
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Market | Global Social Robot Market |
Study Period | 2020 - 2030 |
Base Year (for Global Social Robot Market Size Estimates) | 2023 |
Drivers |
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Restriants |
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Opportunities |
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Segment Analysis
The Global Social Robot Market has witnessed significant growth in recent years, driven by advancements in robotics technology and increasing demand for social robots across various end-user verticals. The market segmentation by end-user vertical reveals diverse applications across industries such as healthcare, retail, education, hospitality, and entertainment. In healthcare, social robots are employed for patient assistance, therapy, and companionship, improving patient engagement and reducing feelings of loneliness. Retailers are adopting social robots to enhance customer service, provide product recommendations, and streamline inventory management.
Educational institutions are integrating social robots into classrooms to facilitate interactive learning experiences and personalized tutoring. Social robots are gaining traction in the hospitality sector, where they assist guests with inquiries, room service, and entertainment, enhancing overall guest satisfaction. The entertainment industry utilizes social robots for interactive exhibits, theme parks, and immersive experiences, creating memorable engagements for visitors. Geographically, the market exhibits a global presence, with significant adoption observed across regions such as North America, Europe, Asia Pacific, and the rest of the world. The increasing acceptance of social robots across diverse sectors and regions underscores their growing significance in modern society, heralding a new era of human-robot interaction and collaboration.
Global Social Robot Segment Analysis
In this report, the Global Social Robot Market has been segmented by End-User Vertical and Geography.
Global Social Robot Market, Segmentation by End-User Vertical
The Global Social Robot Market has been segmented by End-User Vertical into Healthcare, Education, Entertainment, Retail, and Others.
In healthcare settings, these robots are being employed for a range of tasks, from assisting patients with daily activities to providing companionship and emotional support. With an aging population and increasing pressure on healthcare systems, social robots offer a promising solution to alleviate some of the burdens faced by caregivers and medical professionals. Another key end-user vertical for social robots is education. In classrooms and educational institutions, these robots are being used to enhance learning experiences, engage students in interactive activities, and provide personalized tutoring and assistance. By leveraging advanced AI and natural language processing capabilities, social robots can adapt to individual student needs and deliver tailored educational content in a dynamic and engaging manner.
The entertainment industry is also embracing social robots as a novel way to entertain and engage audiences. From theme parks and museums to live events and exhibitions, these robots are being deployed to create immersive experiences, interact with visitors, and deliver personalized entertainment content. With their ability to express emotions, engage in dialogue, and perform various actions, social robots are revolutionizing the way people experience entertainment and leisure activities. In the retail sector, social robots are being deployed to enhance customer service, streamline operations, and create unique shopping experiences. From providing product recommendations and assisting with inquiries to guiding customers through stores and facilitating transactions, these robots are helping retailers deliver superior service and improve customer satisfaction. With the rise of online shopping and the growing demand for personalized experiences, social robots are becoming an increasingly valuable asset for brick-and-mortar retailers looking to stay competitive in a digital age.
Global Social Robot Market, Segmentation by Geography
In this report, the Global Social Robot Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Social Robot Market Share (%), by Geographical Region, 2023
North America, being a technologically advanced region, holds a significant share in the social robot market. The presence of key market players, coupled with substantial investments in research and development activities, contributes to the growth of the social robot market in this region. Moreover, the high adoption rate of advanced technologies and the increasing demand for automation solutions further propel market expansion in North America.
Europe emerges as another prominent region in the global social robot market. Countries like Germany, the UK, and France are at the forefront of technological advancements, fostering the adoption of social robots across various industries. Additionally, stringent regulations promoting the use of automation and robotics in sectors such as healthcare and manufacturing augment market growth in Europe.
Asia Pacific witnesses rapid growth in the social robot market owing to factors such as increasing industrialization, urbanization, and a burgeoning middle-class population. Countries like China, Japan, and South Korea are investing significantly in robotics and AI technologies, driving the demand for social robots across diverse applications. Moreover, the adoption of automation solutions to address labor shortages and improve efficiency fuels market expansion in the Asia Pacific region.
The Middle East and Africa region also present opportunities for market growth, albeit at a comparatively slower pace. The adoption of social robots is gradually gaining traction in sectors like healthcare, retail, and hospitality across countries in this region. Government initiatives aimed at diversifying economies and promoting technological innovation further support market development in the Middle East and Africa.
Latin America, although currently a smaller market segment, shows potential for growth in the social robot market. Countries like Brazil and Mexico are witnessing increasing investments in automation and robotics technologies across various industries. Moreover, the growing awareness regarding the benefits of social robots in improving customer engagement and operational efficiency drives market expansion in Latin America.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Social Robot Market. These factors include; Market Drivers, Restraints and Opportunities.
Drivers:
- Advancements in Artificial Intelligence (AI) and Robotics
- Rising Demand for Companion and Assistive Robots
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Expansion of Applications in Education and Entertainment - In education, social robots are revolutionizing traditional teaching methods by offering personalized and engaging learning experiences. These robots can adapt to individual student needs, providing tailored instruction and assistance. For instance, they can help students with homework, explain complex concepts in an easily understandable manner, and even serve as language tutors. Additionally, social robots facilitate interactive learning through gamification, making education more enjoyable and effective.
Social robots are making waves in the entertainment industry, enhancing customer experiences across various platforms. Whether in theme parks, museums, or retail environments, these robots captivate audiences with their interactive performances and storytelling capabilities. They create immersive experiences by engaging users in dialogue, reacting to their emotions, and even participating in activities such as dance routines or interactive games. They contribute to increased foot traffic, prolonged engagement, and ultimately, enhanced brand loyalty.
The integration of social robots into education and entertainment not only enriches experiences but also opens up new avenues for innovation and creativity. Researchers and developers are continually exploring ways to improve robot-human interaction, enhance emotional intelligence, and expand the range of applications. From educational institutions seeking to modernize teaching methodologies to entertainment venues aiming to differentiate themselves in a competitive market, the demand for social robots continues to grow.
Restraints:
- Technological Complexity and Cost
- Limited Cultural Adaptability
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Human Labor Displacement Concerns - As the global social robot market continues to expand, concerns regarding human labor displacement have emerged as a significant restraint. The integration of social robots into various industries and sectors has led to apprehensions about the potential negative impact on employment opportunities for humans. One major concern is the replacement of human workers with robots in tasks traditionally performed by humans. Industries such as manufacturing, customer service, and healthcare are increasingly adopting social robots to automate processes and improve efficiency. While this automation offers benefits such as cost savings and increased productivity, it also raises questions about the future of human jobs in these sectors.
The rapid advancement of artificial intelligence (AI) and robotics technologies has led to fears of a jobless future, where machines take over a significant portion of human labor. As social robots become more sophisticated and capable of performing complex tasks, the potential for widespread job displacement becomes more pronounced. Another aspect of the human labor displacement concern is the impact on low-skilled workers. As automation replaces manual labor in various industries, individuals with limited education or specialized skills may find themselves disproportionately affected. This could exacerbate existing socioeconomic inequalities and contribute to unemployment and underemployment in vulnerable communities.
Opportunities:
- Companion Robots for Elderly Care
- Therapeutic Applications
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Entertainment and Media - The Global Social Robot Market presents a lucrative opportunity within the Entertainment and Media sector. As consumer preferences evolve, there's a notable inclination towards interactive and engaging entertainment experiences. Social robots, with their ability to interact with users in a lifelike manner, offer a unique avenue for entertainment companies to captivate audiences. These robots can serve various roles, from companionship to storytelling, gaming, and even interactive performances.
By integrating social robots into entertainment experiences, companies can create immersive environments that blur the line between fiction and reality. Moreover, the versatility of social robots enables them to adapt to different entertainment formats, ranging from theme parks and live events to virtual reality simulations and digital platforms. As such, leveraging social robots presents an opportunity for entertainment and media companies to differentiate their offerings, enhance user engagement, and tap into new revenue streams.
Competitive Landscape Analysis
Key players in Global Social Robot Market include:
- Blue Frog Robotics SAS
- Amy Robotics Co. Ltd
- Double Robotics Inc.
- Intuition Robotics Ltd
- BotsAndUs Ltd
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By End-User Vertical
- Market Snapshot, By Region
- Global Social Robot Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
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Advancements in Artificial Intelligence (AI) and Robotics
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Rising Demand for Companion and Assistive Robots
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Expansion of Applications in Education and Entertainment
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- Restraints
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Technological Complexity and Cost
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Limited Cultural Adaptability
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Human Labor Displacement Concerns
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- Opportunities
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Companion Robots for Elderly Care
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Therapeutic Applications
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Entertainment and Media
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- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Social Robot Market, By End-User Vertical, 2022 - 2032 (USD Million)
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Healthcare
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Education
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Entertainment
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Retail
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Others
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- Global Social Robot Market, By Geography, 2022 - 2032 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Social Robot Market, By End-User Vertical, 2022 - 2032 (USD Million)
- Competitive Landscape
- Company Profiles
- Blue Frog Robotics SAS
- Amy Robotics Co. Ltd
- Double Robotics Inc.
- Intuition Robotics Ltd
- BotsAndUs Ltd
- Company Profiles
- Analyst Views
- Future Outlook of the Market
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