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Social Robot Market Segmentation by Component (Hardware, Software, and Service); by Application (Designing, Consulting, Support & Maintenance, and Others); by End-User (Healthcare, Education, Entertainment, Retail, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Social Robot Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • April, 2021: Robosen Robotics Co. Ltd, and Hasbro to join hands to develop an advanced and programmable Transformers’ franchise robot. The collaboration was announced at Hasbro Pulse Fan Fest. 

  • April, 2020- ABB Ltd. has launched a block-based programming interface, ‘Wizard Easy Programming’ for the programming of its single arm YuMi robot.

Global Social Robot Market Highlights over 2022 – 2030

The global social robot market is estimated to grow at a CAGR of ~35% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing adoption of robotics and automation amongst various industrial verticals, along with rapid technological advancements. Social robots are interactive, and can help in various sectors, including healthcare, education, and eldercare. Development of synergetic interaction methods for communicating with the robots, such as, one-to-one conversation and eye gaze, are estimated to boost the demand for social robots. Prior to this, robots were widely deployed in construction, and medical sectors as well. Social robots are primarily used for therapies, for instance, in case of autistic children, as robots can provide positive social behaviors, without any setbacks to the children. The increasing incidences of disorders, such as, autism, and growing awareness regarding the treatment are projected to boost the market growth.    

Social Robot Market Graph

The market is segmented by end-user into healthcare, education, entertainment, retail, and others, out of which, the healthcare segment is anticipated to hold the notable share in the global social robot market over the forecast period on account of increasing demand for robots for treatment and post-treatment care. According to the data by the World Health Organization (WHO), one in 160 children suffers with autism spectrum disorder. It is slightly different from the robotics assisted medical care, where robots and automation are used for conducting surgeries. Social robots are primarily used for physical and behavior therapy, as it saves cost, training, and can provide quicker results. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure Graph

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Social Robot Market Regional Synopsis

On the basis of geographical analysis, the global social robot market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of increasing adoption of robotics in the region, along with the rising investment in technological development activities. Countries, such as, Sweden, Germany, and United Kingdom are escalating in technological advancement, with adoption of new technologies in every sector.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the shift in consumer behavior towards automation and digitalization, coupled with advancement in technologies in the region. Moreover, the growth in advanced technologies such as Artificial Intelligence, Augmented Reality, and others, are estimated to boost the regional market growth.

Social Robot Market Share Image

The global social robot market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global social robot market includes the following segments:

By Component

  • Hardware
  • Software 
  • Service

By Application

  • Designing
  • Consulting
  • Support & Maintenance
  • Others

By End-User

  • Healthcare
  • Education
  • Entertainment
  • Retail
  • Others

Growth Drivers

  • Increasing Adoption of Robots
  • Advantage of Using Robots for Therapy
  • Rising Development of Artificial Intelligence and Other Technologies

Challenges

  • Lack of Technical Temperament in Low-Income Economies
  • High Initial Investment

Top Featured Companies Dominating the Market

  • Haapie SAS
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Double Robotics, Inc. 
  • AoBo Information Technology Co., Ltd.
  • Wonder Workshop, Inc.
  • Blue Frog Robotics SAS
  • ABB, Ltd.
  • Yaskawa Electric Corporation
  • Kuka AG
  • Trapo AG
  • Stäubli International AG

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