Social robots can be referred to as an artificial intelligence (AI) system that is developed to interact with humans and other robots. Potential job functions such as greeting and basic customer service can be easily replaced by social robots at the work place. A social robot can be controlled through a remote.

1. How Much Is The Social Robots Industry Worth?
February 04, 2022
Social robots can be referred to as an artificial intelligence (AI) system that is
developed to interact with humans and other robots. Potential job functions such as
greeting and basic customer service can be easily replaced by social robots at the work
place. A social robot can be controlled through a remote.
Social robots can efficiently function at the work place such as a telepresence
representative at a business meeting or companion in a healthcare facility. Artificial
intelligence allows them to interact independently in response to cues from people
and things in their environment.
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Global Social Robots Market – Dynamics
Increasing Demand for Social Robots in Public Services
Demand for social robots which work autonomously has increased from the
governments of many nations. India is deploying social robots for traffic management.
Social robots are also used for automatic detection in video surveillance. Some of the
major uses of social robots are tutoring, telepresence, companionship, and customer
engagement.
Increasing Demand from BFSI Sector Driving Growth of the Market
In this competitive era, BFSI companies are deploying social robots at the workplace.
Work functions such as customer engagement, and tutoring in many banks are done
through social robots. Cost as well as time for individuals at workplaces can be highly
optimized with social robots.
Hardware/Software Malfunctioning Hampering Growth of the Social Robots Market
Social robots are prone to hardware/software malfunctioning, which is greatly
restraining the growth of the market. The probability of hacking the software could
impact the demand for social robots as these robots can be controlled through a
remote.

2. North America Expected to Dominate the Global Social Robots Market
In terms of region, the global social robots market can be divided into North America,
Europe, Asia Pacific, South America, and Middle East & Africa. North America is
expected to dominate the global social robots market during the forecast period, due
to strong adoption of artificial intelligence as well as AI enabled devices in the region.
Global Social Robots Market – Competitive Landscape
Diligent Robotics Inc.
Established in 2017, Diligent Robotics Inc.is an AI company creating robot assistants.
The company’s social robots feature mobile manipulation, social intelligence, and
human-guided learning capabilities. In year 2019, the company developed a robot
named Moxi which is a hospital robot. Moxi is an assistant that helps clinical staff
with non-patient-facing tasks so they have more time for patient care.
Boston Dynamics
Established in 1992, Boston Dynamics is a leading smart mobile robot development
company. The company integrated the principles of dynamic control and balance with
sophisticated mechanical designs, cutting-edge electronics, and next-generation
software for high performance social robots.
Global Social Robots Market: Segmentation
The global social robots market can be segmented based on:
Global Social Robots Market, by Component
Based on component, the global social robots market can be divided into:
In October 2019, Diligent Robotics Inc. raised approximately US$ 3 Mn in seed
funding. The company also announced that it has finished beta testing of its Moxi
robot, which is designed to assist hospital personnel.
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Component
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Industry
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Region
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Hardware
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3. Global Social Robots Market, by Industry
Based on industry, the global social robots market can be divided into:
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mainly comprises critical assessment of consumers’ or customers’ journeys, current
and emerging avenues, and strategic framework to enable CXOs take effective
decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed
visualization of four elements:
Software
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ServiceProfessionalDesigning
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Consulting
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Support & Maintenance
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Managed
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BFSI
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Telecommunication
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Healthcare
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Hospitality
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Education
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Media & Entertainment
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Public Utility
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Others
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Customer Experience Maps
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Insights and Tools based on data-driven research
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The study strives to evaluate the current and future growth prospects, untapped
avenues, factors shaping their revenue potential, and demand and consumption
patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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Strategic Frameworks to boost the growth journey
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North America
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Asia Pacific
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Europe
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Latin America
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The Middle East and Africa
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