Global Social Robots Market 2023-2030

Global Social Robots Market 2023-2030

Global Social Robots Market Size, Share & Trends Analysis Report by Robot Type (Humanoid Robots, Companion Robots, Collaborative Robots, Educational Robots, Others), by Application (Healthcare and Elderly Care, Education and Research, Retail and Hospitality, Entertainment and Gaming, Customer Service, Others), and by End-use Industry (Healthcare, Education, Retail, Hospitality, Manufacturing, Others) Forecast Period (2023-2030)

The global social robots market is anticipated to grow at a CAGR of 19.2% during the forecast period. The growth of the market is attributed to factors such as advancements in artificial intelligence and robotics technology, and the increasing adoption of social robots in various industries. Further, factors such as improved healthcare outcomes, enhanced educational experiences, and personalized customer service, are anticipated to fuel the demand for social robots. Accordingly, market players are coming up with new and advanced solutions to cater to the demand from various industries for social robots. For instance, in March 2020, KOMPAÏ Robotics launched its Kompaï robot, which is designed to assist in hospitals and nursing homes. The robot’s hardware and ROS-based software are intended to be easy for facilities to adopt and customize. The Kompaï mobile robot can store and share medical data, help patients with mobility, and provide entertainment and social engagement to older people.

Segmental Outlook

The global social robots market is segmented based on its application, end-use industry, and robot type. Based on application, the market is segmented into healthcare and elderly care, education and research, retail and hospitality, entertainment and gaming, customer service, and others. Based on the end-use industry, the market is categorized into healthcare, education, retail, hospitality, manufacturing, and others. Further, based on robot type, the market is segmented into humanoid robots, companion robots, collaborative robots, educational robots, and others. Among the segments, the healthcare and elderly care application is expected to witness significant growth, driven by the increasing adoption of social robots for patient care, rehabilitation, and providing companionship to the elderly.

Healthcare Sub-Segment is Projected to Hold a Considerable Share of the Global Social Robots Market

Among the end-use industry, the healthcare sector is projected to dominate the market, owing to the wide range of applications and benefits offered by social robots in healthcare settings. Also, advancement in robotic technology particularly in the healthcare sector to assist patients suffering from various interpersonal and cognitive disorders is fueling the growth of the market. For instance, in December 2021, Movia Robotics launched its TheraPal line of digital health aids for autism spectrum disorder and other intellectual or developmental disabilities. The robotic aides are designed to be used by parents, therapists, and other healthcare professionals for the development and learning of individuals with neurodevelopmental or intellectual challenges, according to the company. Movia’s robot-assisted intervention is a friendly, digital tool that uses applied behavior analysis and other evidence-based methods with gamification techniques to allow children and older individuals to practice a broad range of life skills and confidence-building activities.

Regional Outlooks

The global social robots market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia-Pacific region is projected to experience considerable growth in the social robots market. Factors such as rapid industrialization and technological advancements are primarily contributing to the regional market growth.

Global Social Robots Market Growth, by Region 2023-2030

Source: OMR Analysis

North America is Anticipated to Hold a Significant Share in the Global Social Robots Market

Among all the regions, North America is anticipated to hold a significant market share in the global social robots market. The region has witnessed early adoption and significant investments in robotics and AI technologies. For instance, in May 2023, Figure, a startup that works to build general-purpose humanoid robots, raised $70 million from investors led by Parkway Venture Capital in its first external round. The new funding will be used to accelerate the development and manufacturing of the company’s upcoming autonomous humanoid. Further, the expansion of market players to the North America region to cater to the rising demand is anticipated to propel the growth of social robots in the region. For instance, in January 2022, Furhat Robotics, acquired the business assets of Colorado-based social robotics startup Misty Robotics, creators of the social robot, Misty. The acquisition establishes an American base of operations for Furhat Robotics and will enable further expansion and development of the next generation of social robots utilizing both the Furhat and Misty robots and teams.

Market Players Outlook

The major companies serving the global Social Robots market include Amy Robotics Co. Ltd., Blue Frog Robotics SAS, Intuition Robotics Ltd, Double Robotics Inc., BotsAndUs Ltd., and AoBo Information Technology Co., Ltd. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2022, Kinova unveiled a collaborative robot in Canada. It features automation solutions that enable greater daily efficiency while improving the quality and consistency of production results. Key applications at launch will be pick-and-place, part assembly, and machine tending. Kinova’s Link 6 controller provides the high processing power and memory capacity on the market, making it ready to use with the AI solutions of the future, while keeping the size of the controller compact.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global social robots market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.