Market Overview:
The North America Social Robots Market size is expected to grow from USD 705.25 million in 2022 to USD 3349.30 million by 2030, at a CAGR of 21.5% during the forecast period (2023-2030).
The social robots market has experienced significant growth and innovation, propelled by advancements in artificial intelligence, robotics, and human-computer interaction technologies. These robots are designed to interact and communicate with humans in various contexts, ranging from healthcare and education to customer service and entertainment.
There has been a notable increase in demand for social robots across different sectors. In healthcare, they are employed for tasks such as patient companionship, therapy, and assistance for the elderly or individuals with disabilities. Educational institutions utilize social robots to enhance learning experiences, promote engagement, and provide personalized tutoring. Additionally, in retail and hospitality, social robots are deployed to greet customers, provide information, and enhance overall service quality.
Key players in the market are continuously investing in research and development to enhance the capabilities and functionalities of social robots, including natural language processing, emotional intelligence, and adaptive behavior. The market is witnessing a steady rise in the adoption of social robots across various industries, with forecasts indicating continued growth and widespread integration of these technologies into everyday life.
Top Key Players Covered in The Social Robots Market:
- Blue Ocean Robotics ApS (Denmark)
- BotsAndUs Ltd. (United Kingdom)
- Camanio AB (Sweden)
- Double Robotics Inc. (United States)
- Embodied Inc. (United States)
- Furhat Robotics AB (Sweden)
- Happy SAS (France)
- Hanson Robotics Ltd. (Hong Kong)
- Aerobics Social Robotics SLL (Spain)
- Intuition Robotics Ltd. (Israel)
- Kinova Inc. (Canada)
- Knightscope Inc. (United States)
- KOMPAI Robotics (France), and Other Major Players
Market Dynamics and Factors:
The driving factors for the social robots’ market include the growing demand for automation and artificial intelligence across various industries, especially in healthcare, education, and retail. Social robots offer solutions for tasks ranging from customer service to companionship for the elderly, driving their adoption and market growth. Additionally, advancements in technology, such as natural language processing and computer vision, enhance the capabilities and appeal of social robots, further stimulating market expansion. Opportunities in the social robots’ market arise from the increasing need for human-robot interaction in diverse settings, creating avenues for innovation and market penetration. As societies age and the need for personalized care increases, social robots can fill the gap by helping and companionship to the elderly, driving adoption in healthcare and assisted living facilities. Restraints include concerns about privacy, security, and ethical implications associated with integrating robots into human environments. Additionally, high initial costs, technological limitations, and cultural resistance may hinder widespread adoption and slow market growth. Regulatory challenges and the need for standardization also pose barriers to market development, requiring collaboration between industry stakeholders and policymakers to address these issues.
The Social Robots Market Report Highlight:
- By Technology, Context Awareness is expected to dominate the Social Robots Market. One of the key elements of social robots is to recognize the context and operate or respond accordingly. The context-aware technology will be helpful indifferent scenarios that can boost the demand for social robots. These robots are increasingly used in educational settings where it is thought that their social traits and embodiment are advantageous.
- By End User Industry, Healthcare Segment is expected to dominate the North America Social Robots Market. Healthcare settings are seeing an increase in the development, testing, and adoption of social robots. The need for mobility assistance devices is being driven by the rising population of the elderly and disabled worldwide.
- By Country, The United States dominates the North America Social Robots Market. The expansion of cutting-edge technologies like artificial intelligence, augmented reality, and others in many end-user industries open up new possibilities for the employment of social robots.
Key Industry Development:
in December 2023, NVIDIA acquired Omniverse Robotics Isaac This strategic acquisition, also bolsters NVIDIA's Omniverse simulation platform for robot development and testing, enhancing its capabilities and user base.
in April 2023, Embodied acquired Moxie, Embodied's purchase of Moxie aims to create a more comprehensive social robot experience for children, combining Moxie's emotional learning focus with Embodied's educational AI.
in February 2023, Blue Ocean Robotics acquired Invento Robotics. This merger strengthens Blue Ocean's position in the healthcare robotics market, combining its Beam telehealth robots with Invento's robotic arms for assisted living.
The Social Robots Market Segmentation:
By Technology
- ML
- NLP
- Computer Vision
- Context Awareness
By End Users Industry
- Healthcare
- Education
- Media and Entertainment
- Retail
- BFSI
For this report, Introspective Market Research has segmented the SOCIAL ROBOTS Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
