About Interactive Robots
An interactive robot is an autonomous robot which is invented to interact and communicates with humans, involving autonomous physical agents. A social robot is physically embodied and are designed with a screen to represent the head or 'face' to communicate with humans. These robots are made of simple architecture and are provided with smart sensors and artificial intelligence to carry out required operations. This will influence the adoption of interactive robots in the society thereby driving the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The interactive robots market is highly fragmented due to the presence of several players who have a strong presence in the market. These players are offering products and adopt innovative marketing strategies to increase consumer awareness. Moreover, the rise in the number of solutions offered by the vendors and the rising number of new entrants due to the market’s growth potential will intensify the level of competition. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Blue Frog Robotics (France), Pal Robotics (Spain), Savioke (United States), Softbank Robotics (Japan), Vstone (Japan), Ecovacs Robotics (China), Fellow Robots (United States), Nanjing AvatarMind Robot Technology (China), Robot Care System (Holland) and Bossa Nova Robotics (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Interactive Robots market by Type (Mobile robots and Stationary robots), Application (Multimedia, Education, Research, Hotel Assistance, Guidance and Marketing, Companion, Assistance and Others) and Region.
On the basis of geography, the market of Interactive Robots has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Liquid Crystal Display (LCD) Based will boost the Interactive Robots market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Advancement in AI Technology and Implementation of Emotional Intelligence in Robotics
Market Growth Drivers:
Ease of Operating Interactive Robots, Increasing Demand for Humanoid and Companion Robots Encrypted with AI and Rising Budget and Subsidies for Innovating Robotics Solutions
Challenges:
Complexity in Developing Social Intelligence of the Robots to Analyze Human Emotions, Gestures, and Movements
Restraints:
High Cost Factor Associated with Interactive Robots
Opportunities:
Increasing Number of New Entrants Due To the Market’s Growth Potential
Market Leaders and their expansionary development strategies
June 2019, Mitsubishi Sensor manufacturer Lenord and Bauer have used robot automation to Optimize its manufacturing production cycle for frequent product changeovers and a wide variety of batch sizes. and The robot cell has taken over monotonous manual pick and place tasks, releasing operators to perform more interesting and valuable work. It operates safely in close proximity to the rest of the workforce. The solution is flexible, efficient and provides integration into the company's higher-level enterprise systems.
In OCTOBER 2022, Elephant robotics launched robobeats, interactive desktop robot & bluetooth speaker. The design itself is very cute and you will have on your table a real looking smal robot with moving dual arms and oval head serving as a screen display as well. The body and head are responsive to touch and the robot will reactt to it. Thanks to the silent brushless motor it even won’t disturb during its incredibly smooth movements.
Key Target Audience
Interactive Robot Manufacturers, Potential Investors, Industry associations, Marketing and Consulting firms, Government and Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.