The global social robots market is expected to experience significant growth, reaching USD 14.23 billion from 2024 to 2028, with a Compound Annual Growth Rate (CAGR) of 41.29%. This growth is primarily driven by the rise in adoption of social robots for the elder population, with a focus on improving battery life. However, the high cost of owning social robots remains a challenge for the market.
Key players in the market include Alphabet Inc., BLUE FROG ROBOTICS SAS, Diligent Robotics Inc., and many more. These companies are at the forefront of developing innovative social robots to meet the growing demand in various sectors.
One of the significant challenges faced by manufacturers is the battery life of social robots, as continuous use requires frequent charging. Research and development teams are working on creating longer-lasting batteries to address this issue. For instance, the University of Michigan is developing biomorphic batteries that could provide up to 72 times more energy for robots.
Despite the advancements in technology, the high cost of manufacturing features such as advanced software and sensors poses a challenge for vendors. This makes social robots less affordable, particularly in emerging economies like India. However, continuous investments in research and development are expected to lead to the launch of new, advanced models in the market.
Social robots are revolutionizing various industries, including robotics and automation, medical industries, autism therapy, workforces, and classroom interaction. These robots are equipped with sensors, cameras, and AI technologies to provide companionship, emotional support, and personalized services. In the medical field, social robots are used for therapy and rehabilitation, while in education, they enhance classroom interaction and facilitate learning for students.
The future of social robots lies in their ability to understand people’s needs, demonstrate empathy, and provide personalized services. As the market continues to grow, advancements in technology and research will drive the development of more sophisticated social robots to meet the diverse needs of consumers across different sectors.
Overall, the global social robots market is poised for significant growth in the coming years, driven by the increasing adoption of social robots for various applications. With continuous advancements in technology and research, the market is expected to witness further innovation and development in the field of social robotics.
