Richmond, Feb. 15, 2024 (GLOBE NEWSWIRE) -- According to a research report "Interactive Robot Market”, by Product Type (Mobile Robots, Stationary Robots), Application (Education & Research, Companion & Humanoid, Guidance & Marketing, Hotel Assistance, Others), and Region - Global Forecast to 2030" published by MarketDigits, the Interactive Robot Market was valued USD 3.89 Billion in 2023 and projected to reach USD 15.6 Billion by 2030, growing at a CAGR of 18.93% during the forecast period of 2023-2030.
Global Interactive Robot Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 3.89 Billion |
| Market size value in 2030 | USD 15.6 Billion |
| CAGR (2023-2030) | 18.93% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product Type, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Interactive Robot Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Robots that can interact with their environment and react to outside stimuli are called interactive robots. They are employed in a variety of contexts, including manufacturing, healthcare, and education. Interactive robots have sensors that enable them to react to their surroundings independently or be programmed to carry out specific tasks. An increase in the number of elderly people is causing a demographic shift in many nations around the world. Elderly people need healthcare services, support with daily tasks, and social interaction to combat loneliness and isolation. The market for interactive robots has been expanding steadily because of robotics, artificial intelligence, and human-machine interaction developments. These machines are made to help, amuse, instruct, or work alongside people. Leveraging cognitive technologies, interactive robotics develops systems for robot interaction to aid humans in various domains, including military and education. The expanding use of multimedia, education, and research robots, as well as the rising need for hotel support robots, are all factors contributing to the growth of this industry. The recent market is experiencing significant growth due to the following factors Increasing demand for automation and development, rising need for hotel support robots, Advancement in artificial intelligence technology, and Growth in R&D investments to develop the technology and functionalities of social robots. The market offers various opportunities for players to develop robots that assist with daily tasks, create interactive robots for entertainment purposes, develop robots that enable remote communication between healthcare professionals and patients, and create robots that can work alongside humans in manufacturing processes.
Major Vendors in the Global Interactive Robot Market:
- AvatarMind Robot Technology
- ASUSTeK Computer Inc.
- Blue Frog Robotics
- ASUSTeK Computer Inc.
- Blue Frog Robotics
- ECOVACS
- Ocean Robotics
- Pal Robotics
- Savioke
- Softbank Robotics
- UBTECH ROBOTICS CORP LTD.
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Increasing demand for automation and development
The global Interactive Robot Market is being driven primarily by a significant increase in demand for robot control systems within the manufacturing industry. Companies in the manufacturing sector are increasingly seeking industrial robot components to automate their processes, aiming to streamline production, minimize labor expenses, and enhance product quality. The overarching objective is to increase production capacity while simultaneously reducing overall costs. Automation proves particularly beneficial for handling repetitive and arduous tasks. Its application extends beyond the improvement of manufacturing processes to encompass business management, contributing to enhanced workplace safety. By delegating hazardous tasks to machines, automation helps mitigate potential risks to human workers.
The interaction of robotics and advanced sensors facilitates the execution of validation and inspection procedures, ensuring rigorous quality control and amplifying production output. This collaborative approach results in the manufacture of more products within shorter time frames and with fewer errors. The reduction in human error not only enhances overall production but also contributes to heightened safety standards. Consequently, the integration of robotics and cutting-edge sensors not only leads to increased efficiency and productivity but also serves as a preventive measure against serious injuries, lowers repair costs, and diminishes the likelihood of product recalls.
Market Dynamics
Drivers:
- Increasing demand for automation and the development
- Rising need for hotel support robots
- Advancements in artificial intelligence technology
- Growth in R&D investments to develop the technology
Opportunities:
- Develop robots that assist with daily tasks
- Create interactive robots for entertainment purposes
- Develop robots that enable remote communication between healthcare professionals and patients
- Create robots that can work alongside humans in manufacturing processes
Develop robots that enable remote communication between healthcare professionals and patients
The global rise in the elderly population is driving the demand for healthcare services. Interactive robots can play a crucial role in distant patient monitoring, medication reminders, and social interaction, especially for seniors facing challenges in mobility or accessing healthcare facilities. In regions grappling with a shortage of healthcare professionals, particularly in rural or underserved areas, interactive robots can act as an extension of healthcare providers. This enables them to remotely assess and communicate with patients, thereby expanding the reach of healthcare services. The need for remote healthcare solutions has been emphasized by events like the COVID-19 pandemic, emphasizing the importance of mitigating the risk of infectious disease transmission. Interactive robots can be instrumental in allowing healthcare professionals to remotely monitor and communicate with patients without physical contact. In terms of patient outcomes, robots for remote communication can contribute to proactive healthcare interventions through real-time monitoring of vital signs and regular communication with healthcare providers. This can lead to early detection of health issues, timely interventions, and improved overall patient health. Advancements in robotics, artificial intelligence, and communication technologies have made it increasingly feasible to develop sophisticated interactive robots for healthcare applications. This includes enhancements in sensor technologies, autonomy, and seamless integration with existing healthcare systems.
Asia Pacific dominates the market for Interactive Robot
The rapid advancement of technology and the widespread integration of automation in industrial manufacturing across various sectors are expected to drive substantial growth in the Asia Pacific region. This growth is particularly fueled by the robust economies of China, South Korea, Japan, and India. Furthermore, the growth of the industrial automation sector in the Asia-Pacific market is influenced by proactive government initiatives in manufacturing and a heightened focus on economic diversification in developing nations. Consequently, there is an increased demand for service robots. The primary catalyst for the substantial expansion of the market in the region during the forecasted period is attributed to the escalating robot density across the regional market.
In North America, the interactive robot market is prominently led by the United States and Canada. These countries play a significant role in driving demand across key sectors such as healthcare, education, entertainment, and customer service. The market's growth is further fueled by robust research and development activities and continuous technological innovation. Europe, countries like Germany, the UK, and France actively participate in the interactive robot market. The applications of these robots span from industrial automation to healthcare and service-oriented tasks. Notably, European nations emphasize the importance of human-robot collaboration and adhere to stringent safety standards in their pursuit of advancing interactive robotic technologies.
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The Product Type Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Interactive Robot Market, the Product segment encompasses diverse categories, including the Mobile Robots subcategory, which incorporates AMRs, AGVs, Humanoids, and Hybrids. AGVs, or Automatic Guided Vehicles, represent mobile robots specifically engineered to autonomously navigate predefined environments such as warehouses, factories, or logistics centers. These robots are equipped with navigation systems and sensors enabling them to evade obstacles, follow optimized programmed routes, and enhance overall operational efficiency. Primarily utilized for the efficient and secure transportation of materials and products within various facilities, AGVs have significantly improved inventory management and streamlined logistics processes in warehouses. This adoption has resulted in cost reduction, minimized downtime, decreased human errors, and heightened productivity. AGVs not only contribute to profitable production through efficient inventory management in factories and warehouses but also demonstrate versatility across multiple sectors. In agriculture, AGVs are increasingly employed to automate tasks like crop harvesting, product transportation, and inventory management. Moreover, in the healthcare sector, AGVs play a crucial role in the distribution and delivery of medical supplies and equipment within hospitals. This application enhances logistics management, leading to faster and more effective patient care. The adaptability of AGVs extends across various industries, and their customization options open up practically limitless possibilities for process automation in different sectors.
Segmentations Analysis of Interactive Robot Market: -
- By Product Type
- Mobile Robots
- AMRs
- AGVs
- Humanoids
- Hybrids
- Stationary Robots
- Articulated robots
- Cobots
- Mobile Robots
- By Application
- Education & Research
- Companion & Humanoid
- Guidance & Marketing
- Hotel Assistance
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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