As social robots interact with humans more closely, they must respond to them and modify their behavior. Massive advancements in actuators, sensors, and processing power have allowed humans to naturally communicate with robots through eye contact, conversation, facial expression, over the years. Social robots are artificial intelligence (AI) systems that are designed to communicate with humans and other robots. Prospective job functions such as basic consumer service and greeting can be replaced easily at work by social robots. A remote can be used to control a social robot. This will reduce manual labor as well as chances of human error, thus, serving as the key factors augmenting the sales growth of the global social robots market during the forecast period set between 2021 and 2031.
The social robots market categorized in terms of component, industry, and region. In terms of component, the market is divided into industry, component, and region. With respect to component, the market is classified into hardware, software, and services. Among these, the services segment is further grouped into managed, and professional. The latter is again segmented into support & maintenance, consulting, and designing. With respect to industry, the market is divided into public utility, media & entertainment, education, hospitality, healthcare, telecommunication, BFSI, and others.
The research report on social robots market provides an in-depth analysis of the market and drivers, restraints, challenges, and future growth opportunities. It also highlights on the recent developments and innovations that helped the market grow in terms of revenue generation. List of the manufacturers operating in this market and their efforts in the form of innovations and new product launches is also discussed in details. The impact of the novel COVID19 pandemic is also discussed in the report. For more information on this market, log on to the company website.
The nature of competition for this market is highly fragmented owing to the presence of a few vendors. Leading players of the social robots market are engaging in joint ventures and merger strategies to gain an upper hand in the overall market competition. Others are investing in introduction of innovative products to attract more revenues to the market. The key objective is to ensure a significant position in the market competition and earn handsome revenues for the overall market.
Some of the key players of the global Social Robots market include:
Social robots can perform well at work, such as telemedicine representative at a client meeting or a companion in a medical facility. They can communicate independently in response to indicators from both products and people in their environment thanks to artificial intelligence. Many governments have increased their need for social robots that work autonomously. India is launching social robots to manage traffic. Social robots are also used in video surveillance for automatic detection. Tutoring, companionship, telepresence, and customer engagement are some of the major applications of social robots. The increasing use of robots in multiple applications is projected to serve as the emerging trends of the social robots market.
Geographically, this market is widespread into the regions of Latin America, Europe, North America, and the Middle East and Africa. These regions are further categorized as per the nations bringing business. North America emerged as the largest revenue generator for the social robots market on account of the increasing rate of neurological disorders and the rising use of smart robots for detecting movement in rehabilitation exercises will help this region remain ahead of the market competition.