Social Robots Market Growing Massively by 2021-2026 Major Players: Blue Frog Robotics & Buddy, Intuition Robotics Ltd., Haapie SAS, Reach Robotics Limited

Market Insights Reports has added new statistical data to its repository titled as, Global Social Robots Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Social Robots market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The Social Robots market is estimated to grow at a CAGR of about 14% over the forecast period 2021 to 2026.

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Top Key Players in the Global Social Robots Market are Blue Frog Robotics & Buddy, Intuition Robotics Ltd., Haapie SAS, Reach Robotics Limited, Knightscope, Inc, Movia Robotics, Inc, Sony Corporation, Embodied, Inc, Furhat Robotics AB, Catalia Health, Inc, and others. 

Industry News and Update:

- April 2020: Embodied, Inc. announced the launch of Moxie, a social companion robot explicitly aimed for children aged 6 to 9 to help promote emotional, social, and cognitive development of children through everyday play-based learning and captivating content. The companies aim to add further support for children diagnosed with AD/HD, anxiety, and autism.

- February 2020 - Intuition Robotics announced that it had raised Series B round funding of USD 36 million co-led by investors, including PARX Group and OurCrowd. Leveraging the funding, the company seeks to develop further digital assistants that create emotional bonds with humans and machines. Further, the company also disclosed that it is working with Toyota Research Institute to bring its technology to the automaker's LQ concept.

Key Market Trends:

Healthcare Sector is Expected to Drive the Market Growth

- Social robots are primarily designed to interact with people in a consistent human social psychology manner. They are particularly used in the field of healthcare due to their ability to engage people along with emotional and social dimensions, also the growing expenditure of the healthcare sector across the globe showcases the potential of adoption social robots.
- Also, the rise of assistive technologies such as telecare, proactive services system, the household robots, among others that aid the aging population to live independently in their homes and, care facilities, has further elevated the scope of social robot deployment in health care sector owing to the emotional and personality traits offered and thereby serving patients as potential companions.
- For instance, the PARO Therapeutic Robot ( by AIST, Japan) stimulates and reduces stress for patients with diseases such as Alzheimer's in healthcare facilities as it responds to users by its name by moving its head and cries for pe-ting. Also, Mabu ( By Catalia Health Inc) serves as a wellness aid to elderly patients by reminding them to take walks, medication, and contact family members.

North America to Witness Fastest Growth

- North America is expected to witness fastest growth owing to factors such as the region is one of the pioneers in the adoption of robots across industries and advanced technologies such as AI, NLP, among others, also the rise of chronic diseases, aging population.

- For instance, the healthcare sector in countries such as Canada is under tremendous strain owing to the rapidly growing demand from the public, demanding healthcare organizations to keep pace with the changing societal needs of the aging population and growing number of people with chronic conditions such as dementia that require complex medical and mental health need.

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This Global Social Robots Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Global Social Robots market:

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– Where are the greatest dangers?              

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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