Social Robots Market Sluggish Growth Rate Foreseen by 2023-2030

The global social robots market is anticipated to grow at a CAGR of 19.2% during the forecast period. According to Pew Research Center, the US across the globally has the highest percentage of older adults living alone. Also, a report from the National Academies of Sciences, Engineering, and Medicine (NASEM) points out that more than one-third of adults aged 45 and older feel lonely, and nearly one-fourth of adults aged 65 and older are socially isolated. Older adults are at increased risk for loneliness and social isolation because they are more likely to face factors such as living alone, the loss of family or friends, chronic illness, and hearing loss. The growing population of old age coupled with associated loneliness is creating favorable market conditions for the growth of social robots. Robotic companions are increasingly used to aid aging humans to live more stimulating lives. The growing population of older adults and the lack of a caregiving workforce is fueling the demand for machines with social and emotional intelligence. 

Robots that are socially intelligent interact and communicate with people in human-centric terms, create emotional connections, and are much more effective in supporting humans than screen-based technologies. As social engagement is strongly linked to overall health outcomes the demand for social robots is increasing. There are known connections between chronic loneliness and increased morbidity in older adults. For instance, according to the Center for Disease Control and Prevention, poor social relationships (characterized by social isolation or loneliness) were associated with a 29% increased risk of heart disease and a 32% increased risk of stroke. Loneliness among heart failure patients was associated with nearly 4 times increased risk of death, 68% increased risk of hospitalization, and 57% increased risk of emergency department visits.

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Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030

Segment Covered- 

By Robot Type
By Application
By End-use Industry

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- including Amy Robotics Co. Ltd., Blue Frog Robotics SAS, Intuition Robotics Ltd., Double Robotics Inc., Bots and Us Ltd, and others.

A full Report of Social Robots Market is Available @  https://www.omrglobal.com/industry-reports/social-robots-market

Social Robots Market Report Segment

By Robot Type

Humanoid Robots
Companion Robots
Collaborative Robots
Educational Robots
Others

By Application

Healthcare and Elderly Care
Education and Research
Retail and Hospitality
Entertainment and Gaming
Customer Service
Others

By End-use Industry

Healthcare
Education
Retail
Hospitality
Manufacturing
Others

Social Robots Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

Amy Robotics Co. Ltd.
AoBo Information Technology Co. Ltd.
Blue Ocean Robotics ApS
BotsAndUs Ltd.
Camanio AB
Double Robotics Inc.
Embodied Inc.
Furhat Robotics AB
Haapie SAS
Intuition Robotics Ltd.
Kinova Inc.
Kompai Robotics
Matia Robotics Inc.
Motorika Inc.
MoviaRobotics Inc.
OhmniLabs Inc.
SZ DJI Technology Co. Ltd.

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