Social Robots Market by Component and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR45607
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The social robots market has the potential to grow by USD 1.10 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 14.43%.

This social robots market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by component (hardware, software, and services) and geography (APAC, North America, Europe, MEA, and South America). The social robots market report also offers information on several market vendors, including 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. among others.

What will the Social Robots Market Size be in 2021?

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Social Robots Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The technological advances in social robots is notably driving the social robots market growth, although factors such as high cost may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the social robots industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

This social robots market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Social Robots Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • BLUE FROG ROBOTICS SAS
  • Furhat Robotics AB
  • Hitachi Ltd.
  • Knightscope Inc.
  • Nippon Telegraph and Telephone Corp.
  • PAL Robotics SL
  • Savioke Inc.
  • SoftBank Group Corp.
  • Ubtech Robotics Inc.

 

This statistical study of the social robots market encompasses successful business strategies deployed by the key vendors. The social robots market is fragmented and the vendors are deploying growth strategies such as focusing on the launch of advanced models to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The social robots market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Social Robots Market?

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36% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for social robots in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The availability of inexpensive social robots and the increasing number of HNWIs will facilitate the social robots market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Component Segments in the Social Robots Market?

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The social robots market share growth by the hardware segment will be significant during the forecast period. The hardware segment of the market includes components such as processors, actuators, sensors, cameras, robotic arms, controllers, and power systems. As the capabilities of social robots are continuously rising, their adoption in various applications is also witnessing an increase, which is driving the demand for the hardware for social robots.

This report provides an accurate prediction of the contribution of all the segments to the growth of the social robots market size and actionable market insights on post COVID-19 impact on each segment.

 

Social Robots Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 14.43%

Market growth 2021-2025

$ 1.10 billion

Market structure

Fragmented

YoY growth (%)

13.10

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 36%

Key consumer countries

US, China, UK, Japan, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Social Robots Market Report?

  • 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 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

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Component

    • Market segments
    • Comparison by Component
    • Hardware - Market size and forecast 2020-2025
    • Software - Market size and forecast 2020-2025
    • Services - Market size and forecast 2020-2025
    • Market opportunity by Component

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • BLUE FROG ROBOTICS SAS
      • Furhat Robotics AB
      • Hitachi Ltd.
      • Knightscope Inc.
      • Nippon Telegraph and Telephone Corp.
      • PAL Robotics SL
      • Savioke Inc.
      • SoftBank Group Corp.
      • Ubtech Robotics Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The social robots market growth will increase by $878.71 million during 2019-2024.
      The social robots market is expected to grow at a CAGR of 13.15% during 2019-2024.
      Technavio has segmented the social robots market by component (Hardware, Software, and Service) and geographic (APAC, North America, Europe, MEA, and South America).
      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., Ubtech Robotics Inc. are a few of the key vendors in the social robots market.
      APAC will register the highest growth rate of 39.20% among the other regions. Therefore, the social robots market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • China
      • UK
      • Japan
      • South Korea (Republic of Korea)
      The key factors driving the social robots market growth are:
      • Technological advances in social robots
      The social robots market vendors should focus on grabbing business opportunities from the hardware segment as it accounted for the largest market share in the base year.
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