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Market Research Report

Global Interactive Robots Market Size by Products (Mobile Robots & Stationary Robots), by Application (Education, Companion & Humanoid, Guidance & Marketing, and Assistance), and by Geography - Industry Analysis and Opportunity Assessment with Forecast 2016-2024

Published On : 2018-03-06 Report Page : 275 Category: Hardware and ICT

Global Interactive Robots Market 

Market Overview

Interactive robotics develops robot interaction engine using cognitive technology to assist human in different scenarios like in military and education. Industrial robots are heavily used with 1.6 million robots operational in industries, thus making a way for interactive robots acceptance in other fields in coming years. As per the scientists, robot-human teams are 85% more productive than either alone, or with the interactive robots the productivity is expected to rise 3 times as they will replace the human efforts. Advances in artificial intelligence have made digital devices to recognize language and emotional and social dexterity and respond accordingly and undertake complex tasks with understanding and learning which has grown the acceptance of interactive robots by 19.4% in 2016.

Goldstein Research analyst forecast the interactive robots market size is set to reach USD 11,890 million by 2024 from the USD 152.38 million in 2016, growing at a CAGR of 72.4%over the forecast years. The cognitive technology advancement for improved intuitive interaction with the humans is the major factor for the growth of interactive robots market.

Covered in This Interactive Robots Market Report

The report covers the present ground scenario and the future growth prospects of the interactive robots market for 2016-2024 along with the statistics of the total shipment of the interactive robots and its adoption rate in various verticals. We calculated the market size and revenue share on the basis of revenue generated from major players. 

Global Interactive Robots Market Segmentation

By Products

  • Mobile robots
  • Stationary robots

By Application

  • Education and Research
  • Companion and Humanoid
  • Guidance and Marketing
  • Assistance

Based on Geography

  • North America Interactive Robots Market(U.S. & Canada) {Market Share (%), Market Size (USD Billion)}
  • Latin America Interactive Robots Market (Brazil, Mexico, Argentina & Rest of Latin America)  {Market Share (%), Market Size (USD Billion)}
  • Europe Interactive Robots Market (The U.K., Germany, France, Italy, Hungary, Spain, Poland, Sweden & RoE)  {Market Share (%), Market Size (USD Billion)}
  • Asia-Pacific Interactive Robots Market (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia)  {Market Share (%), Market Size (USD Billion)}
  • Middle East & Africa Interactive Robots Market (GCC, South Africa, North Africa, RoMEA)  {Market Share (%), Market Size (USD Billion)}

On the basis of application, there is increasing demand for companion and humanoid interactive robots having 2/5th market share because of their artificial intelligence in skills and enhanced communication to understand humans. They are mainly deployed in healthcare industry for applications such as surgeries. The mobile robots market segment is expected to grow at a CAGR of 4.7%, ahead of the stationary robots market segment owing to the convenience with movable interactive robots at the workspace.

Interactive robots market outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the interactive robots market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global interactive robots market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Market Trends, Drivers and Challenges

According to our global interactive robots market study on the basis of extensive primary and secondary research, “The rising trend is the support provided to the old age people through the development of interactive robot sensors and AI. The changing socio-demographic factors of an economy such as aging population and inclination towards automation are demanding the interactive robots as a physical and social-wellbeing support, such as in Japan around 50% of the old age population will be robotic dependent by 2050.

According to the report, major driving factors are the inclining robotics innovation budget by the government to advance the interactive robot’s AI and sensors. Korea for instance, has provided robotics infrastructure that has 478 robot units per 10,000 workers in industries, attaining the top position in the world robotic density, in the year 2016. Such factors are pushing the growth in the development of interactive robots.

Further, the major challenge for the interactive robots is the social intelligence of the robots for robot human interaction. There has been research over complexity in developing social intelligence of the robots to analyze human emotions, gestures, and movements, which have to be overcome to increase the presence and acceptance of interactive robots.

Global Interactive Robots Market Analysis

Based on geography, interactive robots market in APAC is valued at USD 60.88 million in 2016 growing at the rate of 40-45% annual growth rate between 2014-2016, owing to the robotic advancements in the countries such as in China, Japan, South Korea where government is spending heavily on research and development of robotics and its social acceptance. China saw USD 151.4 million investments in 2016 to make humanoid robots. North America robotics market has grown at the rate of 9-15 percent annually during the period of 2014-2016 but it is still lagging behind Asia due to low investments in robotics technology. After Asia-Pacific region, North America is expected to be the opportunistic market for the new entrants investing in manufacturing and production of interactive robots in coordination with the growing automation environment of North America.

Key Players

Global interactive robots market report comprises of the following companies as the key players in the interactive robots:  Softbank Robotics, Blue Frog Robotics, Vstone, Savioke, Pal Robotics, Ecovacs Robotics, Future Robotics, ASUS, Fellow Robots, AvatarMind.

Other high-flying vendors in the interactive robots market are: Robot Care System, Bossa Nova Robotics, Honda.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this Global Interactive Robots Market Report

  • What is the total market size by 2024 and what would be the expected growth rate?
  • What is the revenue of interactive robots market in 2015-16 and what would be the expected demand over the forecasted period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who all are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

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Global Interactive Robots Market Size by Products (Mobile Robots & Stationary Robots), by Application (Education, Companion & Humanoid, Guidance & Marketing, and Assistance), and by Geography - Industry Analysis and Opportunity Assessment with Forecast 2016-2024

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A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements