Key Players
The major players operating in the global social robots market are:
- Amy Robotics Co. Ltd.
- Blue Frog Robotics SAS
- Intuition Robotics Ltd
- Double Robotics Inc.
- BotsAndUs Ltd
- AoBo Information Technology CoLtd
- Haapie SAS
- OhmniLabs Inc.
- MoviaRobotics Inc.
- KOMPAI Robotics
- SZ DJI Technology CoLtd
- Embodied IncAB
- Wonder Workshop Inc.
- Hanson Robotics Ltd
- Furhat Robotics AB
- Bionik Laboratories Corp.
- AlterG Inc.
- Motorika USA Inc.
- Blue Ocean Robotics ApS
- Inrobics Social Robotics SLL
- Matia Robotics (US) Inc.
- Camanio AB
- Kinova Inc.
Market Dynamics
With increasing adoption of advanced technology across various sectors, robotics and automation have become vital for ensuring people's safety and enabling them to coexist with robots. Social robots are designed to work closely with humans and can respond to their behavior and adapt accordingly.
Thanks to significant advancements in sensors, actuators, and other capabilities, humans can now naturally interact with robots through facial expressions, eye contact, and conversation. This has led to a growing interest in deploying social robots in the medical industry, as their behaviors, such as imitation and eye gaze, have shown positive impacts on autism therapy compared to children with autism interacting with non-social robots.
The growing demand for attention and care for the elderly, as well as the need for additional workforces and labor, has led to an increase in the adoption of social robots. In Japan, for instance, the government expects a decline of about 380,000 specialized workers in the coming years and has been funding the development of eldercare robots.
Additionally, the World Bank predicts that 22% of the global population will be over 60 years old in the near future, which will further increase the demand for social robots in the eldercare industry. As a result, the market for social robots is expected to be highly profitable.
Integrating robotics into the learning process can greatly enhance classroom interaction, as it promotes social interaction and fosters collaboration among young children. Moreover, playing and learning with robots can provide additional benefits for students with disabilities. Social robots are designed with behaviors that aim to improve real-time communication and enhance user-friendliness between humans and robots.
Social robots are equipped with sensors and cameras that enable them to perceive their environment and a path-planning system to calculate a feasible route to reach their navigation goal. They learn from human observations or demonstrations of behavior around them. As a result, the guidance and assistance provided by these social robots simulate human behavior, based on what they observe in their environment.
In addition, social robots are primarily designed for interaction with humans rather than performing physical tasks. With the escalation of epidemics, the potential roles of social robots are becoming more evident. As awareness and access to early diagnosis of multiple common diseases grow, the demand for social robots is increasing. They help reduce the strain on society by aiding in the early detection of diseases that may go undiagnosed until it is too late.
Segment Analysis
By End-user Vertical Type: Healthcare Sector to Account for Significant Market Share
Social robots have become essential tools for care homes, as they help reduce loneliness, connect with doctors, monitor activities, and support caregivers. In February 2021, Vic Foundation partnered with Research Manitoba to launch a new telepresence robot project aimed at alleviating the burden on caregivers and supporting individuals living with dementia.
The World Health Organization (WHO) predicts that the number of people with neurological disorders will increase to 103 million by 2030, representing a 12% rise. This trend has led to the development of rehabilitation robots that ensure consistent movement in rehabilitation exercises. This repetition helps train the brain, enabling muscles to carry out activities independently. According to the India Brand Equity Foundation (IBEF), government healthcare expenditure as a share of GDP is expected to reach 2.5% by 2025.
In August 2022, the University of New Hampshire was awarded a five-year grant totaling USD 2.8 million from the National Institutes of Health (NIH) to develop and test social assistive robots that aid in caring for individuals with Alzheimer's disease and related dementias in the comfort of their homes. The social robots can assist patients by monitoring their medication schedule.
For instance, if a patient forgets to take their medication on time, a sensor placed near their pill bottle will track the lack of movement and alert the assistive robot. The robot will then issue a vocal reminder to the patient. If the patient does not respond after a few attempts, the robot will alert a remote human caregiver who can intervene and ensure that the patient takes their medicine.
Regional Analysis: North America to Witness Significant Growth
The COVID-19 pandemic has caused a rapid shift in consumer behavior, resulting in increased reliance on digitization and automation in North America. This shift has accelerated the growth of robotic automation, including social robots. Companies such as KUKA AG operating in this field have also experienced similar trends, driving the growth of social robots in North America.
Furthermore, the expansion of advanced technologies such as artificial intelligence and augmented reality across various end-user verticals presents new opportunities for adopting social robots.
Social robots have been increasingly adopted in educational institutions worldwide due to their ability to capture students' attention. Van Robotics, a US-based provider of tutoring robots, is one such company that has witnessed this trend. The company offers its robots in 30 states in the United States and recently announced that eight Abii robots are being used by students at two Charleston County School District (CCSD) schools.
The Abii robots are designed to provide one-on-one intervention to students in grades 1 through 6. Each student has a unique login, and the robots provide personalized instruction. Additionally, the robots use sensors to detect attention spans and use dancing and singing to refocus students. The robots have been successful in gaining students' attention and making them feel more comfortable as companions.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Customization Options
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Company Profiling
- Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking
- Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
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Recent Developments
- In March 2023, OhmniLabs, a leading robot design and manufacturing company in the US, entered into a partnership with Intellego Technologies, the maker of UVC Dosimeters, to improve the efficacy of its autonomous UV-C disinfection robot, OhmniClean.
- In March 2022, Blue Frog Robotics unveiled Buddy, a robot powered by Agora Real Time Engagement Platform, which helps children learn remotely.
