Social Robots Market to reach USD 15.64 billion by 2027.Global Social Robots Market is valued approximately at USD 1.98 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 34.34% over the forecast period 2021-2027.
Social Robots Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Social Robots Market by region.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
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Social robots are mainly used in the healthcare, education, entertainment and the retail sector. Rapid technological advancements and increasing concerns towards the elderly population and Expanding need of the labors are factors contributing to the market growth. For instance: according to Reuters, by 2025, the Japanese government expects a shortage of 380,000 specialist personnel, hence it is working on the development of assisted living robots. Further, the World Bank has estimated that by 2025, 22% of the world’s population would be over 60 years of age. Thus, the desire for associated robots is likely to expand, making social robots a profitable business. However, Algorithmic Bias-Related Complexity and Long-Term Engagement and Unexpected Consequences impedes the growth of the market over the forecast period of 2021-2027. Also, increasing demand from the end user industries such as education, medical and healthcare sector and heavy investment in the robotics sector are likely to increase the growth of the market in the forecast period.
The regional analysis of global Social Robots market includes Asia Pacific, North America, Europe, Latin America and Rest of the World for analysis and estimation. North America is the significant region in terms of largest market share across the world owing to increasing digitization Whereas, Europe is anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rapid advancements in technology would create lucrative growth prospects for the Social Robots market across European region.
Major market player included in this report are:
Intuition Robotics Ltd
Inrobics Social Robotics SLL
Matia Robotics (US) Inc.
Blue Ocean Robotics ApS
Motorika USA Inc.
Bionik Laboratories Corp.
Furhat Robotics AB
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By End User Vertical:
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Final Report will add the analysis of the impact of COVID-19 on this industry.”
In the highly import dependent Infertility Treatment Market, a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
The report provides a snapshot of theInfertility Treatment Market. It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.
A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:
What is the aim of the report?
The market report presents the estimated market size of Infertility Treatment Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of Market are incorporated in the research report.
The report analyses growth rate, market size and valuation of the Market during the forecast period.
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What aspects regarding the regional analysis Market are included in this report?
Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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