Social Robots Market Size to Reach US$ 13.3 Billion by 2027 | Industry CAGR of 31.3%

Published February 13, 2023

 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, the market expected to reach US$ 13.3 Billion by 2027, exhibiting at a CAGR of 31.3% during 2022-2027.

Market Overview:

Social robots are designed with artificial intelligence (AI) systems to interact with humans and other robots. They comprise body, frame, control system, drivetrain, and manipulators. They are widely available in different sizes, shapes, and are utilized in workplaces, shopping malls, and other commercial complexes. They can aid in improving customer experience and capturing details of consumers for marketing purposes. They offer a support tool during autism therapy and social-emotional learning for the development of children. They also assist in performing therapies for people suffering from dementia. As a result, they are employed in the education, e-commerce, media and entertainment, and banking, financial services, and insurance (BFSI) industries across the globe.

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Social Robots Market Trends Drivers:

At present, the rising adoption of social robots in the medical facility as telemedicine representatives represents one of the primary factors strengthening the market growth. Besides this, the growing demand for social robots to provide care and attention to the elderly population across the globe is offering a positive market outlook. Apart from this, governing agencies of several countries are encouraging the adoption of robots, which is bolstering the growth of the market. Additionally, the rising demand for social robots in the education industry to improve social interaction among children is offering lucrative growth opportunities to industry investors. Furthermore, the increasing adoption of social robots in the BFSI industry for tutoring, customer engagement, and solving banking-related queries, is propelling the growth of the market.

Social Robots Market 2022-2027 Competitive Analysis and Segmentation:

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).

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The report has segmented 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

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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