Social Robots Market worth US$912.488 million by 2026
Knowledge Sourcing Intelligence announces the publication of a new report on “Social Robots Market – Forecasts from 2019 to 2026” to their giving.
The prime factor driving the growth of the social robots market is due to rise in automated production.
As per the report, the market about Social Robots Market is expected to grow at a steady pace.
A social robot interconnects with information received from its camera and other sensors with the help of artificial intelligence (AI). Designers are able to develop algorithms incorporating both psychological and neuroscientific insights using artificial intelligence. Thus, this helps in developing the ability to understand and respond to verbal communication and facial expressions. Because of this situation, social robots have become more widely used in various industries. Growing automation across diverse industrial verticals is driving the market growth. It has been predicted that the application of robotics across many industry verticals will grow at a significant rate in the coming decade according to the International Federation of Robotics. Asia saw a 21% surge in robot usage, the United States of America experienced a 16% increase, and Europe saw an 8% increase.
Based on application, the market is fragmented into Hardware, software, and service. The reliability of robotics systems is known to be prone to error in actual application scenarios, despite strong demands for dependability. The market growth of social robots has been restricted due to hardware and software malfunctions. Due to social robots being controlled through a remote, there is a likelihood of hacking the software.
Based on end-users, the market is fragmented into education, healthcare, retail, IT and Communication, entertainment, household and others. Following SoftBank's success in enhancing consumers' experience, Apple invested $50 billion in research and development on Pepper in 2020. Simbe Robotics built a social robot for Target, called Tally, to replace the company's inventory management system. The Australian fast-food chain, Dominos, recently introduced a driverless vehicle, the Dominos Robotic Unit (DRU), which helps improve pizza delivery.
By geography, the market for social robots is segmented into North America, Europe, the Middle East and Africa, South America, and the Asia Pacific. The North America and Asia-Pacific regions are the largest markets for social robots. They will dominate the global market. Asian countries are particularly known for their use of robots in health care and education, with Japan and South Korea being the premier markets.
As a part of the report, the major players operating in the agriculture biologicals market, that have been covered are Sony, SoftBank Robotics, Blue Frog Robotics, and Buddy, Reach Robotics, Knightscope Inc., AIST, Merck group, Intuition Robotics, Furhat Robotics.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/social-robot-market
This analytics report segments the social robots market on the following basis:
- By Application
- By End-User
- IT and Communication
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
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