Sep 12, 2023

News provided by Share this article Share toX NEW YORK, Sept. 12, 2023 /PRNewswire/ -- The social robots market size is expected to grow by USD 6.20 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 28.88% during the forecast period. The market is segmented by Component (Hardware, Software, and Services), End-user (Healthcare, Media and Entertainment, Education, Retail, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). The technological advances in social robots drive the social robots market. Social robots are popular all over the world, particularly among the aging population. Also, there is a growing geriatric population in the world with developed countries such as the US, European countries, and Japan having a high elderly population. Hence, such factors fuel the growth of the social robots market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample Key Highlights: The report recognizes the following as some of the key players in the social robots market: Alphabet Inc., BLUE FROG ROBOTICS SAS, Diligent Robotics Inc., Engineered Arts Ltd., Furhat Robotics AB, Haapie SAS, Hitachi Ltd., Hyundai Motor Co., Intuition Robotics Ltd., Kompai Robotics, Navel robotics GmbH, Nippon Telegraph and Telephone Corp., PAL Robotics, Relay Robotics Inc., SoftBank Group Corp., Sony Group Corp., Toyota Motor Corp., UBTECH Robotics Inc., Yukai Engineering Inc., and Knightscope Inc. Social Robots Market is fragmented in nature. Market to observe 26.67% YOY growth in 2023. Market Dynamics: Challenge The high cost of owning social robots challenges the growth of the market. The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report Keg Segments: The hardware segment holds the largest social robots market share. The segment will continue to account for the highest market share throughout the forecast period. The growth of this segment can be attributed to the miniaturization of electronic components such as sensors and actuators, technological advances in batteries and control systems, and the development of advanced vision systems. Get a glance at the market contribution of the segments, Request a Sample Related Reports: The  entertainment robots market  size is estimated to grow at a CAGR of 25% between 2022 and 2027. The market size is forecast to increase by USD 47,514.74 million. This entertainment robots market report extensively covers market segmentation by product (robotic toys, educational robots, and robotic companion pets), end-user (media, education, and retail), and geography (Europe, APAC, North America, Middle East and Africa, and South America). Increasing demand for entertainment robots for leisure purposes is one of the key drivers for the growth of the market. The  robotics end-of-arm tooling market  size is estimated to grow at a CAGR of 4.96% between 2022 and 2027. The market size is forecast to increase by USD 992.39 million. This report extensively covers market segmentation by application (material handling, assembly line, welding and soldering, surface treatment and finishing, and others), end-user (automotive, semiconductor and electronics, food and beverage, industrial machinery, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). An increase in demand for robotic end-of-arm tooling from the food and beverage industry drives the market growth. Social Robots Market Scope Market growth 2023-2027 Performing market contribution Competitive landscape Key companies profiled Alphabet Inc., BLUE FROG ROBOTICS SAS, Diligent Robotics Inc., Engineered Arts Ltd., Furhat Robotics AB, Haapie SAS, Hitachi Ltd., Hyundai Motor Co., Intuition Robotics Ltd., Kompai Robotics, Navel robotics GmbH, Nippon Telegraph and Telephone Corp., PAL Robotics, Relay Robotics Inc., SoftBank Group Corp., Sony Group Corp., Toyota Motor Corp., UBTECH Robotics Inc., Yukai Engineering Inc., and Knightscope Inc. Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. ToC: About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts UK: +44 203 893 3200 Also from this source Enter Your Email By signing up you agree to receive content from us. Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our  PRN Consumer Newsletter Privacy Notice . You can withdraw your consent at any time in the footer of every email you'll receive.Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten. Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer  PRN Consumer Newsletter Privacy Notice . Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen.En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part. Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant  PRN Consumer Newsletter Privacy Notice . Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu.Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на  PRN . Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.