Global Interactive Robots Market to 74.69% CAGR to 2021 – Analysis of Softbank Robotics, Blue Frog Robotics, Vstone, Savioke, and Pal Robotics

MarketResearchNest.com adds “Global Interactive Robots Market 2017-2021” new reports to its research database. The report spread across 71 pages with tables and figures in it.

The research analysts forecast the global interactive robots market to grow at a CAGR of 74.69% during the period 2017-2021.

Interactive robots are used to automate some of the mundane and irksome tasks in several applications such as hotels, restaurants, domestic chores, multimedia, education and research, and many more. The robots act as companions or assistants in undertaking tasks in cooperation with humans. These robots are either mobile or stationary and enhance the engagement with humans.

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Technavio recognizes the following companies as the key players in the global interactive robots market: Softbank Robotics, Blue Frog Robotics, Vstone, Savioke, and Pal Robotics.

Other Prominent Vendors in the market are: Ecovacs Robotics, Future Robotics, ASUS, Fellow Robots, AvatarMind, Robot Care System, Bossa Nova Robotics, and Honda.

The latest trend gaining momentum in the market is Advances in artificial intelligence technology. Artificial intelligence is a set of technologies that can be imparted in smart phones, home devices, advanced robots, and connected vehicles. Advances in artificial intelligence have allowed digital devices to undertake complex tasks with understanding and learning. Thus, devices can recognize language and emotional and social dexterity and respond accordingly.

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According to the report, one of the major drivers for this market is Innovation budget by governments for robotics. Increasing budgets and subsidies for innovating robotics solutions to increase their deployment is driving innovations in interactive robots to increase their use in multiple applications. Subsidies are driving established and new players to implement more experiments in interactive robots. Over the decade, a number of companies have come up with improved robots that can interact more socially and emotionally.

Further, the report states that one of the major factors hindering the growth of this market is High complexity in designing. Interactive robots are very complex in their designing. As they are expected to retain gestures, emotions, and movement as human beings, the complexity involved in programming and set-up increases further. As the demand for the social involvement of robots is increasing, robots need to be aware of emotions such as joy, excitement, anger, shy, and others. For instance, robots placed in commercial places as a sales assistant, which react to the emotions of customers and explain the characteristics are more effective.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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