Authored By: Sarah
08 Oct 2021

Social Robots Market | Growth and Analysis
Market Growth and Forecasts for 2021-2025

Accelerating at a CAGR of over 14.43%, the social robots market is expected to grow by post an incremental growth of $ 1.10 bn over the next five years. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.


Need to Strategize a COVID-19 Recovery Plan?  Request for our FREE Sample Report


Social Robots Market: Market Segments and Key Trends

The Social robots market is segmented by Component (Hardware, Software, and Services) and Geography (APAC, North America, Europe, MEA, and South America). APAC led the market with 36% of the market growth set to originate from this region during the forecast period. High cost is one of the challenges that will need to be overcome to drive growth. The research report provides market share projections of each segment along with a detailed analysis of all the factors that are likely to boost growth within specific regions as well as global markets.

Social Robots Market: Top Drivers to Boost Demand

One of the primary factors that will drive market growth is the technological advances in social robots. The social robots market report provides an understanding of this and all the other drivers that are likely to impact market growth. These insights will enable clients to design growth strategies that will leverage opportunities and neutralize challenges effectively.

Social Robots Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Vendor Analysis: BLUE FROG ROBOTICS SAS, Furhat Robotics AB and Hitachi Ltd. are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BLUE FROG ROBOTICS SAS, Furhat Robotics AB, Hitachi Ltd., Knightscope Inc., Nippon Telegraph and Telephone Corp., PAL Robotics SL, Savioke Inc., SoftBank Group Corp., and Ubtech Robotics Inc. are some of the major market participants.

For more insights on this market: Download a Free Sample Report

Social Robots Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive social robots market growth during the next five years
  • Precise estimation of the social robots market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the social robots market industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of social robots market vendors

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 14.43%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 1.10 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Technological advances in social robots will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    36% growth will originate from APAC

     
  6. Who are the leading market vendors?
    The leading vendors in this market are BLUE FROG ROBOTICS SAS, Furhat Robotics AB, Hitachi Ltd., Knightscope Inc., Nippon Telegraph and Telephone Corp., PAL Robotics SL, Savioke Inc., SoftBank Group Corp., and Ubtech Robotics Inc.

     
  7. What are the market segments covered in this report?
    The market is segmented by Component (Hardware, Software, and Services) and Geography (APAC, North America, Europe, MEA, and South America)

Social Robots: Top Drivers that will Enable COVID-19 Recovery

Growth Drivers and Market Forecast for 2020-2024

Technavio’s Social Robots Market is set to grow by $ 878.71 mn, and the market will progressing at a CAGR of over 13% till 2024. This research report identifies and analyses the growth drivers that will boost market growth. It also provides a thorough understanding of all the segments, trends and challenges that are likely to have an impact on the future prospects fo the market in focus.


Request for our free sample report to get a glimpse into our exhaustive research and analysis: Download FREE Sample Report


Social Robots Market: Top Drivers for Growth

^A detailed study of market drivers enables market players to leverage these factors to drive growth. Technavio’s research reports provide a comprehensive analysis of all the other factors that will drive market growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. One of the key drivers that will boost this market is Technological advances in social robots. For more insights on the impact of this and all the other drivers, request for our FREE sample report:

Social Robots Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Social Robots Market: Growth Segments

This report provides a detailed analysis of the market by Component (Hardware, Software, and Service) and Geography (APAC, North America, Europe, MEA, and South America). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Request our Free Sample Report 

Social Robots Market: BLUE FROG ROBOTICS SAS, Diligent Robotics Inc., Furhat Robotics AB, Hitachi Ltd., Knightscope Inc., Nippon Telegraph and Telephone Corp., PAL Robotics SL, Savioke Inc., SoftBank Group Corp., and Ubtech Robotics Inc. are some of the leading competitors

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BLUE FROG ROBOTICS SAS, Diligent Robotics Inc., Furhat Robotics AB, Hitachi Ltd., Knightscope Inc., Nippon Telegraph and Telephone Corp., PAL Robotics SL, Savioke Inc., SoftBank Group Corp., and Ubtech Robotics Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 13%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 878.71 mn through 2020-2024.
     
  3. What is a key factor driving this market?
    Technological advances in social robots will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    39% growth will originate from APAC
     
  6. Who are the leading market vendors?
    The leading vendors in this market are BLUE FROG ROBOTICS SAS, Diligent Robotics Inc., Furhat Robotics AB, Hitachi Ltd., Knightscope Inc., Nippon Telegraph and Telephone Corp., PAL Robotics SL, Savioke Inc., SoftBank Group Corp., and Ubtech Robotics Inc.
     
  7. What are the market segments covered in this report?
    The market is segmented by Component (Hardware, Software, and Service) and Geography (APAC, North America, Europe, MEA, and South America)

Social Robots Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024

Technavio has been monitoring the social robots market and it is expected to grow by $ 878.71 mn, accelerating at a CAGR of almost 13% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Social Robots Market: Key Trends to impact market growth

The is one of the key social robots market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.

Social Robots Market: Top Drivers to Boost Demand

The Technological advances in social robots is one of the primary factors driving the growth of the social robots market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business

Social Robots Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Vendor Analysis: BLUE FROG ROBOTICS SAS, Diligent Robotics Inc. and Furhat Robotics AB are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BLUE FROG ROBOTICS SAS, Diligent Robotics Inc., Furhat Robotics AB, Hitachi Ltd., Knightscope Inc., Nippon Telegraph and Telephone Corp., PAL Robotics SL, Savioke Inc., SoftBank Group Corp., and Ubtech Robotics Inc. are some of the major market participants.

For more insights on this market: Download a Free Sample Report

Social Robots Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive social robots market growth during the next five years
  • Precise estimation of the social robots market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the social robots market industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of social robots market vendors

Technavio has been monitoring the global social robots market and it is expected to grow by USD 878.71 million accelerating at a CAGR of over 13% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Social Robots Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Social Robots Market: Segmentation by Geography

During 2019, APAC was the largest market for Social Robots Market and the region will offer several growth opportunities to market vendors during the forecast period. 39% of the market’s growth will originate from APAC with China, Japan, and South Korea (Republic of Korea) being the key markets for social robots in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the social robots market size.

Factors such as technological advances in social robots, increasing government support for the development of advanced social robots will drive market growth.  The advantages offered by security and law enforcement robots over traditional security systems will lead to immense growth opportunities. However, high cost and the vulnerability of robots to hacking may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Social Robots Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BLUE FROG ROBOTICS SAS, Diligent Robotics Inc. and Furhat Robotics AB are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

 

Read News Read Less
Interested in this report?
Get your sample now!
Technavio