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Global Social Robots Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Social Robots
How Big Is the Social Robots Market Size Expected to Be by 2034?
The market for social robots has seen a substantial rise in its size recently. Its progress is projected to expand from $5.72 billion in 2024 to $7.66 billion in 2025, with a compound annual growth rate (CAGR) of 34.0%. The growth during the historic period is linked to factors such as the aging population, healthcare requirements, the need for entertainment and leisure, and government monetary support.
The market size for social robots is anticipated to witness a sharp incline in the upcoming years, expanding to $24.7 billion by 2029 with a compound annual growth rate (CAGR) of 34.0%. This predicted growth during the forecast period is due to factors such as growing consciousness about mental health and wellbeing, the rise in the trend of remote work, an increased demand for communication, and their incorporation into intelligent home systems. The forecast period is also expected to see major trends such as the development of cooperative robots, the use of artificial intelligence (AI) and machine learning (ML), advancements in human-robot interactivity, and issues surrounding ethical AI and data privacy.
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What Are the Emerging Segments Within the Social Robots Market?
The social robots market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, Computer Vision, Context Awareness, Natural Language Processing
3) By Industry: Public Utility, Media And Entertainment, Education, Hospitality, Healthcare, Telecommunication, Banking, Financial Services and Insurance (BFSI), Other Industries
Subsegments:
1) By Hardware: Sensors, Actuators, Processors, Power Supply, Communication Modules
2) By Software: Operating Systems, Application Software, Development Software
3) By Services: Integration Services, Maintenance and Support Services, Training And Consulting Services
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What Long-Term Drivers Are Shaping Social Robots Market Trends?
The social robot market is being fueled by the increasing demand for personalized customer experiences across different sectors. The term "customer experience" (CX) encompasses the emotions and perceptions a consumer has towards a brand, influenced by their interaction with the brand's products or services. Social robots contribute to enhancing this experience by enabling customers to share feedback and suggestions regarding their experience. In a survey forwarded by Verint, a U.S based customer engagement solution enterprise, in June 2022, it was found that 39% of the over 2000 American participants aged between 18 and 75 would potentially discourage their kin from making a purchase from a business if they've had a poor customer service experience with it. Additionally, 64% of surveyed participants had already ceased transactions with such companies. Furthermore, 79% of the respondents below the age of 45 claimed that a positive digital platform experience is highly essential to them. Thus, the escalating need for personalized customer experiences across various sectors plays a vital role in propelling the social robot market's growth. The advancement of the social robot market is further boosted by the escalating adoption of smart homes. These homes are equipped with connected devices and automation technology, enabling remote command and efficient control of different aspects like lighting, security, heating, and entertainment. In such homes, social robots function as intelligent companions and control centers, enabling voice-activated device control and personalized assistance. This not only enhances the convenience and safety of the residents but also elevates their overall life quality. As per a study led by Secure Data Recovery, a U.S based expert data recovery firm, in November 2023, the usage of smart home devices by Americans noticeably increased. The study found the proportion of American households using such technology escalated from 6.9% to 22.3% in 2023. Moreover, states like Connecticut, Utah, and Maryland showed the most significant adoption of this technology, with 28.2%, 27.8%, and 27.6% of their populations respectively using this smart technology. Consequently, the increasing adoption of smart homes fuels the expansion of the social robot market.
Who Are the Top Competitors in Key Social Robots Market Segments?
Major companies operating in the social robots market are Toyota Motor Corporation, Samsung Electronics Co. Ltd., Honda Motor Co. Ltd., Sony Corporation, Toshiba Corporation, Nvidia Corporation, ASUSTeK Computer Inc., Hasbro Inc., KUKA Robotics Corp, UBTECH Robotics Inc., Charles River Analytics Inc., Starship Technologies Inc., Cyberdyne Inc., Kinova Inc., WowWee Group Limited, Furhat Robotics AB, Blue Frog Robotics SAS, Knightscope Inc., Mayfield Robotics, Agility Robotics Inc., Hanson Robotics Ltd., Wonder Workshop Inc., Embodied Inc., Apptronik Inc., Double Robotics Inc., Vecna Robotics Inc., Paro Robots US Inc., Diligent Robotics Inc., KOMPAI Robotics, SoftBank Robotics Group Corp.
What Are the Major Trends Shaping the Social Robots Market?
Firms in the social robot sector are utilizing cutting-edge technologies like artificial intelligence and machine learning to maintain their market standing. The term artificial intelligence pertains to the imitation of human intelligence processes by computer systems, while machine learning refers to the process through which a computer system acquires its intelligence. For instance, Embodied Inc., a robotics and AI firm based in Los Angeles, unveiled the Moxie robot in December 2022. The robot is entertaining for children between 5 and 10 years, and aids in their development and amusement. Moxie fuses aspects of child development, engineering, technology, game design, and entertainment through machine learning. The resulting technology can perceive, process, and respond to natural conversation, eye contact, and facial expressions, and even remember people, places, and objects.
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Which Regions Are Becoming Hubs for Social Robots Market Innovation?
Asia-Pacific was the largest region in the social robot's market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in social robot's market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Social Robots Market?
2. What is the CAGR expected in the Social Robots Market?
3. What Are the Key Innovations Transforming the Social Robots Industry?
4. Which Region Is Leading the Social Robots Market?
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