Interactive Robots Market

Interactive Robots Market Overview

Interactive robots are the type of robots that are capable of communicating with humans through social communication modes such as speech, body language, facial expressions, and others. Interactive robotics is developed using cognitive technology and allows the robots to interact with the engine in order to understand and assist humans. Interactive robots have natural interaction capabilities to talk, remember, and adapt as per human behavior. The cognitive skills of interactive robots help them in understanding and responding to natural language phrases, thus allowing them to adapt to a particular situation and make the right decision. This enables interactive robots to work with humans as a highly effective teammate. Humans can easily communicate with interactive robots through various interfaces such as tablets, smartphones, among others.

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Major Interactive Robots Market Drivers

The factors driving the growth of the global interactive robots market include the increasing demand for automation and the development of technologically advanced interactive robots such as humanoid and assistant robots. In addition to this, the rising adoption of smartphones and tablets is expected to support the growth of the interactive robots market during the forecast period owing to the ability to control the operation of these robots remotely with the help of mobile applications. Moreover, the increased demand for automation activities has led to the rising penetration of interactive robots in various sectors, including healthcare, teaching, research, entertainment, hospitality, and others. The recent outbreak of COVID-19 has also been contributed to the rise in the demand of interactive robots in the hospitals, diagnostic center, operation theatres, and other healthcare infrastructures, for taking care of the patients and is playing a crucial role in assisting humans and doctors in containing the spread of the virus.

The socio-demographic factors, including the increasing popularity of virtual learning, robotic game, and growing elderly population, have also been contributing to the demand of humanoid and companion robots. Moreover, the advancement of artificial technology is one of the major factors that is responsible for the growth of the interactive robots market. AI helps in enabling these robots to observe, behave, understand, and interact as a human and effectively serve to the requirements of the customers, thereby boosting the demand for interactive robots over the forecast period. Increasing applications of interactive robots in the commercial sector, including hotels, restaurants, telecommunication companies, banks, automobile, and educational institutes among others, will further propel the market growth over the forecast period. However, high initial investment and complexity in developing social intelligent robots may hamper the growth of the global interactive robots market.

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Based on the product, the market is segmented into mobile robots and stationary robots. Stationary robots segment is anticipated to increase at a higher CAGR over the forecast period. These robots have the ability to perform their task without changing positions. The stationary robots are used in performing repetitive tasks, consistent material deliveries, and operational services including customer support, billing, and others. Increasing demand for stationary robots in industries such as automobiles, telecommunication, machine shops, and comparatively less cost of these robots are some other factors contributing to the growth of the stationary segment of the interactive robots market. On the other hand, the mobile robots segment of the interactive robots market is expected to grow at a higher CAGR during the forecast period owing to numerous remarkable benefits offered by them, such as higher flexibility and cost-effective technology that can perform sophisticated tasks and make the decision based on perception without manual observation and assistance. Moreover, the surging demand of mobile robots for various applications such as medical care, surveillance, emergency rescue operations, planetary exploration, patrolling, petrochemical applications, industrial automation, construction, entertainment, museum guides, personal services, is further boosting the segment growth.

Based on application, the market has been segmented into education and research, companion and humanoid, guidance and marketing, and assistance. Among these, the companion and humanoid robots segment is expected to dominate the market during the forecast period. This is mainly due to widespread applications such as receptionists, entertainers, and personal assistants for performing repetitive and tedious tasks. Various interactive robots, including Pepper, SAM, Lynx, Buddy, Professor Einstein, Cognitoys, Miko, Paro, Vortex, Jibo, ROBEAR, and AV1, among others, have been developed as a companion and humanoid robots. Interactive robots are being increasingly used as classroom assistants, language teachers, teachers in virtual classes, and researchers to collect and analyze complex data. The ability of these robots to deliver high-quality information, promote interactive teaching and learning, higher cost-effectiveness as compared to the human teachers, safe to perform complex laboratory experiments and others are boosting the demand for the interactive robots in the areas of education and research.

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Regional – Segment Analysis

Based on the region, Asia-Pacific region is expected to dominate the market over the forecast period owing to the increasing focus on the research, development, and manufacturing of advanced interactive robots in countries including China, Japan, India, and South Korea. Increasing demand for these robots in various sectors such as defense automobile, aerospace, and others are supporting the growing demand of the interactive robots market. The growth in the region can also be attributed to the rising aging population in the region, increasing per capita income of people in developing countries including India, China, Bangladesh, and Thailand, coupled with the increasing demand for smart devices such as mobile phones and tablets. Association for Unmanned Vehicle Systems International (AUVSI), Indian Underwater Robotics Society (IURS), Advanced Robot Technology Research Association (Japan), Japan Industrial Robot Association are some of the organizations strengthening the growth of the robotics industry in the region. On the other hand, the North America region is projected to grow at a higher CAGR over the forecast period. This is mainly due to the growing adoption of interactive robots in the healthcare, security, and field industries. Various organizations including the Association for the Advancement of Artificial Intelligence (AAAI), IEEE Robotics & Automation Society, WeRobotics, MassRobotics, Robotic Industries Association (RIA), Society of Robotic Surgery (SRS) are promoting the adoption of robotics and automation in North America.

Top Market Players

Various notable players operating in the global Interactive Robots Market include SoftBank Group Corp., Blue Frog Robotics & Buddy, Vstone Co.,Ltd., Savioke, PAL Robotics, Ecovacs Robotics, Asustek Computer Inc., Nanjing AvatarMind Robot Technology, Bossa Nova Robotics, Honda Motor Co., Ltd., Connected Robotics Inc. , Blue Ocean Robotics, UBTECH Robotics, Inc., and Universal Robots, among others.

 Key Developments: 

• • In 2020, ABB Group, one of the world’s prominent suppliers of industrial robots partnered with an AI Robotics Company named Covariant for the development of AI-enabled robotics solutions to the interactive robots market. The partnership would work to enable robotics with AI, where intelligent robots would work alongside humans in dynamic environments.
  • In 2019, Amazon announced the launch of a new breed of domestic robots, known as ‘Vesta’ after the Roman goddess of the home. Vesta is expected to be an advanced Alexa that can move around the house and perform basic tasks. Vesta will come with advanced cameras, robotic arm tech, and computer vision software enabling it to move things around.
  • In 2018, Brain Corp, an AI company specialized in the development of self-driving technology for robots partnered with Savioke. With this partnership, BrainOS, a software platform of Brain Corp that offers the development, deployment and management of mobile robots will be integrated to develop smart robots with self-driving capabilities. This will enhance the product portfolio of both the companies and deliver interactive robotic solutions to healthcare, hospitality, and logistics markets.

Segments covered in the Report:

The global interactive robots market has been segmented on the basis of product, application, and regions. Based on product, the market is segmented into mobile robots and stationary robots. On the basis of application, the market has been segmented into education and research, companion and humanoid, guidance and marketing, and assistance.

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Key questions answered in this research report:

• • At what pace is global Interactive Robots Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Interactive Robots Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Interactive Robots Market?
  • Which product generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various applications of global Interactive Robots Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	SoftBank Group Corp., Blue Frog Robotics & Buddy, Vstone Co.,Ltd., Savioke, PAL Robotics, Ecovacs Robotics, Asustek Computer Inc., Nanjing AvatarMind Robot Technology, Bossa Nova Robotics, Honda Motor Co., Ltd., Connected Robotics Inc. , Blue Ocean Robotics, UBTECH Robotics, Inc., Universal Robots among others; a total of 14 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Interactive Robots Market by Product

• • Mobile Robots
  • Stationary Robots

Global Interactive Robots Market by Application

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

Global Interactive Robots Market by Region

• • North America Interactive Robots Market (Option 1: As a part of the free 25% customization)

    • North America Interactive Robots Market by Product
    • North America Interactive Robots Market by Application
    • US Interactive Robots Market All-Up
    • Canada Interactive Robots Market All-Up

  • Europe Interactive Robots Market (Option 2: As a part of the free 25% customization)

    • Europe Interactive Robots Market by Product
    • Europe Interactive Robots Market by Application
    • UK Interactive Robots Market All-Up
    • Germany Interactive Robots Market All-Up
    • France Interactive Robots Market All-Up
    • Spain Interactive Robots Market All-Up
    • Rest of Europe Interactive Robots Market All-Up

  • Asia-Pacific Interactive Robots Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Interactive Robots Market by Product
    • Asia-Pacific Interactive Robots Market by Application
    • China Interactive Robots Market All-Up
    • India Interactive Robots Market All-Up
    • Japan Interactive Robots Market All-Up
    • Rest of APAC Interactive Robots Market All-Up

  • RoW Interactive Robots Market (Option 4: As a part of the free 25% customization)

    • RoW Interactive Robots Market by Product
    • RoW Interactive Robots Market by Application
    • Brazil Interactive Robots Market All-Up
    • South Africa Interactive Robots Market All-Up
    • Saudi Arabia Interactive Robots Market All-Up
    • UAE Interactive Robots Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Interactive Robots Market All-Up

Global Interactive Robots Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • SoftBank Group Corp.
  • Blue Frog Robotics & Buddy
  • Vstone Co.,Ltd. 
  • Savioke
  • PAL Robotics
  • Ecovacs Robotics
  • Asustek Computer Inc.
  • Nanjing AvatarMind Robot Technology
  • Bossa Nova Robotics
  • Honda Motor Co., Ltd.
  • Connected Robotics Inc. 
  • Blue Ocean Robotics
  • UBTECH Robotics, Inc.
  • Universal Robots