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.
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.