Global Social Robots Market Key Insights
During the forecast period of 2023-2035, the global social robot market is expected to reach an estimated value of ~USD 16 billion by 2035 by expanding at a CAGR of ~31%. The market further generated a revenue of ~USD 3 billion in the year 2022. Major key factors propelling the growth of social robot market worldswide are the growing adoption of robotics and automation amongst various industrial verticals, and surging integration of social robots with machine learning, and artificial intelligence
Market Definition of Social Robot
A social robot is a type of artificial intelligence (AI) system that interacts with humans. They have the potential to replace entire job functions in the workplace, such as greeting and basic customer service. They are typically outfitted with sensors, cameras, and processors that aid in controlling the robot's movement and collecting human data for a meaningful interaction. Additionally, social robots are designed in such a way that they can become members of the family and can quickly engage with other members.
Global Social Robot Market: Growth Drivers
The growth of the global social robot market can majorly be attributed to the surging deployment of social robots for retail sector in order to interact with the buyers. For instance, more than 20 percent of the retailers have already employed robots for the human interaction in the year 2022. Similarly, the increasing need for labor, and workforce for the jobs is also projected to drive the market growth. For instance, it is expected that more than 10 million people in Japan will disappear from the workforce by the end of 2040.
The global social robot market is also estimated to grow majorly on account of the following:
• Increasing incidence of disorders
• Growing adoption of social robots in banking sector
• Rising use of social robots for elder care
• Surging use of robots in the classroom interaction for learning,
Global Social Robot Market: Restraining Factor
There are still in the initial age owing to the high investment requirement for the manufacture of social robots. Moreover, there is a scarcity of professionals to operate the social robots in developing nations. Hence, this factor is expected to be the major hindrance to the growth of the global social robot market during the forecast period.
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Global Social Robot Market Segmentation
By End-User (Retail, Healthcare, Education, Entertainment, and Others)
The healthcare segment, amongst all the other segments, is expected to hold the largest share over the forecast period. This can be attributed to the rising demand for medical treatment and aftercare robots. According to WHO, the number of people suffering from neurological disorders is expected to rise to 100 million by 2030, representing a 13% increase. The rise in neurological disorders is fueling the development of rehabilitation robots. Such robots ensure that the movement in rehabilitation exercises is repeated in the same way each time, training the brain to allow muscles to perform the activities on their own.
By Application (Support & Maintenance, Consulting, Designing, and Others)
By Component (Service, Hardware, and Software)
By Region
The North America region market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions. The surging adoption of social robots in various verticals such as education, industrial, and others, the increasing care for an ageing population, and the increasing advancement of technologies are anticipated to surge the growth of the market in the region. As per the reported data, the United Nations population aged 65 or older is expected to reach more than 90 million by the end of 2060.
The market research report on global social robot also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global Social Robot Market
Some of the key players of the global social robot market are KUKA AG, TRAPO GmbH, Double Robotics, Inc., Happie SAS, AoBo Information Tcehnology Co., Ltd., Wonder Workshop, Inc., Yaskawa Electric Corporation, Staubli International AG, ABB, Ltd., Blue Frog Robotics SAS, and others.
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