According to the latest report by IMARC Group, titled, “Social Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global social robots market reached a value of US$ 2.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2027, exhibiting at a CAGR of 31.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Social robots are generally deployed in workplaces and shopping malls to interact and communicate with individuals. They are usually equipped with gears, sensors and software that control the movements of the robot. They are designed to perform various functions while offering basic customer services and personal assistance. Apart from this, they are widely used in healthcare and educational institutions in order to improve social interactions and build engagement.
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Market Trends
The global market is primarily driven by significant growth in the information technology (IT) sector. Along with this, continual technological advancements in the sector are creating a positive outlook for the market. For instance, the widespread integration of machine learning (ML) and artificial intelligence (AI) with social robots to facilitate meaningful communication between the robots and individuals is positively influencing the market growth. Moreover, the increasing adoption of social robots for emotional and physical therapy across the healthcare industry has also propelled the market growth. Some of the other factors contributing to the market growth include rapid digitization and extensive research and development (R&D) activities conducted by key players.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- AlterG Inc.
- Bionik Laboratories Corp.
- Blue Frog Robotics SAS
- Blue Ocean Robotics ApS
- Embodied Inc.
- Furhat Robotics AB
- Haapie SAS
- Intuition Robotics Ltd
- Knightscope Inc
- Motorika USA Inc.
- MOVIA Robotics Inc.
- SoftBank Robotics (SoftBank Group).
Social Robots Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global social robots market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology and end use industry.
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Technology:
- Machine Learning
- Computer Vision
- Context Awareness
- Natural Language Processing
Breakup by End Use Industry:
- Healthcare
- Education
- Media and Entertainment
- Retail
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Table of Content:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Social Robots Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Services
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Technology
7.1 Machine Learning
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Computer Vision
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Context Awareness
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Natural Language Processing
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by End Use Industry
8.1 Healthcare
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Education
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Media and Entertainment
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Retail
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AlterG Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Bionik Laboratories Corp.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.3 Blue Frog Robotics SAS
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Blue Ocean Robotics ApS
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Embodied Inc.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Furhat Robotics AB
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Haapie SAS
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Intuition Robotics Ltd
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Knightscope Inc
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Motorika USA Inc.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 MOVIA Robotics Inc.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 SoftBank Robotics (SoftBank Group)
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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