The global social robots market is projected to expand by US$14.23 billion from 2024 to 2028, growing at a CAGR of 41.29%, according to Technavio. This growth is fueled by the rising adoption of social robots for elder care, with an increasing focus on enhancing battery life. However, the high cost of ownership remains a significant challenge.
Battery life poses a major challenge for social robot manufacturers, as continuous use requires frequent recharging. Efforts to develop longer-lasting batteries are ongoing, with researchers exploring biomorphic batteries and self-powering robots. Notably, the University of Michigan’s biomorphic batteries aim to provide up to 72 times more energy for robots, while Bristol Robotics Laboratory's EcoBot-II converts insect biomass into energy using onboard microbial fuel cells.
The market is witnessing significant advancements in AI technologies like machine learning, facial recognition, and gesture detection, which enhance robots' cognitive and affective outcomes. These technologies are essential for personalized tutoring, therapy sessions, and providing empathy and emotional support, particularly in elder care. The integration of AI allows social robots to navigate social environments, understand human emotions, and interact more naturally and effectively with users.
Increasing adoption in various sectors
Social robots are being increasingly adopted across various sectors, including healthcare, education, hospitality, and customer service:
Healthcare: Social robots provide companionship, emotional support, and cognitive stimulation for the elderly, and are used in autism therapy and rehabilitation.
Education: Robots enhance classroom interaction, offer personalized tutoring, and assist students with disabilities.
Hospitality and Customer Service: Robots offer personalized services, improve user experiences, and help address labor shortages.
Labor shortages in various industries are driving efficiency and support through automation. In response, smart home technology, including smart thermostats, lighting systems, and security cameras, is increasingly integrating robots for enhanced functionality. This integration is crucial for providing seamless and efficient home automation solutions.
Technical support is available for both hardware and software issues, ensuring that robots operate efficiently and effectively. Customization and tailored services are essential for business success in this market, as they allow companies to meet specific needs and preferences of different customer segments.
Gary: An AI robot revolutionizing elder care
Amidst this market growth, Gary, an AI-powered robot developed by Unlimited Robotics, is making waves in geriatric care. Gary offers personalized communication, cognitive engagement, and fall prevention, addressing key challenges faced by the elderly. By combating loneliness, providing cognitive exercises, and ensuring safety, Gary significantly improves the quality of life for seniors.
Gary also streamlines workflows for nurses, handling routine tasks and collecting valuable patient data, which leads to increased job satisfaction and improved care quality. Early results from a pilot study in a California hospital show a 20% reduction in patient-reported loneliness and a 15% improvement in cognitive function scores.
Future outlook
The global social robots market is on a transformative path, with innovations like Gary leading the way in elder care. As the industry addresses challenges like battery life and high costs, the future looks promising for social robots to become integral to our daily lives, providing personalized services and enhancing the human touch in care and companionship.
Leading market players
Key market players driving innovation in the social robots market include:
- Alphabet Inc.
- BLUE FROG ROBOTICS SAS
- Diligent Robotics Inc.
- Engineered Arts Ltd.
- Furhat Robotics AB
- Haapie SAS
- Hitachi Ltd.
- Hyundai Motor Co.
- Intuition Robotics Ltd.
- Knightscope Inc.
- Kompai Robotics
- Navel Robotics GmbH
- Nippon Telegraph and Telephone Corp.
- PAL Robotics
- Relay Robotics Inc.
- SoftBank Group Corp.
- Sony Group Corp.
- Toyota Motor Corp.
- UBTECH Robotics Inc.
- Yukai Engineering Inc.
Source: Technavio
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