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Social Robots Market size is set to grow by USD 14.23 billion from 2024-2028, Rise in adoption of social robots for elder population to boost the market growth, Technavio

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NEW YORK, July 19, 2024 /PRNewswire/ — The global social robots market size is estimated to grow by USD 14.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 41.29% during the forecast period. Rise in adoption of social robots for elder population is driving market growth, with a trend towards increasing focus on enhancing battery life. However, high cost of owning social robots poses a challenge. Key market players 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., and Yukai Engineering Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Hardware, Software, and Services), End-user (Healthcare, Media and entertainment, Education, Retail, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

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., and Yukai Engineering Inc.

Key Market Trends Fueling Growth

The battery life of social robots is a significant challenge for manufacturers, as continuous use necessitates frequent charging. Research and development teams are addressing this issue by creating longer-lasting batteries. However, battery size also restricts robot design, occupying approximately one-fifth of the available space. University of Michigan researchers are developing biomorphic batteries, providing up to 72 times more energy for robots. Meanwhile, Bristol Robotics Laboratory’s self-powering robot, EcoBot-II, converts insect biomass into energy using onboard microbial fuel cells. These advancements in battery technology are expected to boost R&D in robotic batteries, contributing to the growth of the social robots market during the forecast period.

The Social Robots Market is experiencing significant growth as businesses seek to enhance teaching, learning processes, and customer experience through advanced technologies. Peer learners and cognitive outcomes are key trends, with robots used for personalized tutoring and therapy sessions. Interactive panels, tablets, projectors, video conferencing, and automation are essential hardware components. AI technologies, including machine learning, facial recognition, and gesture detection, are driving cognitive and affective outcomes. Robots offer empathy and emotional support, making them ideal for elderly care and therapy. In hospitality, banking, and customer service, they provide personalized services, improving user experience. Labor shortages in various industries are driving efficiency and support through automation. Smart home technology, including smart thermostats, lighting systems, and security cameras, is integrating robots for enhanced functionality. Technical support is available for hardware and software issues. Customization and customized services are essential for business success in this market.

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Market Challenges

The global social robots market faces a significant challenge due to the high cost of manufacturing these advanced devices. The integration of advanced software and sensors for image processing and independent decision-making increases production expenses. This high cost is a barrier for consumers in emerging economies, such as India, to purchase social robots. Vendors continue to invest in research and development, introducing new and advanced models with advanced technologies. While these innovations enhance the functionality of social robots, they also contribute to the rising costs. This price point may hinder the adoption of social robots among middle-class consumers in developing countries, potentially hindering market growth during the forecast period.The Social Robots Market is experiencing significant growth due to the integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in rehabilitation robots, robot toys, and social robots. Designers and neuroscientists use psychological insights and algorithms to create robots with faces, emotions, voices, and behavior that mimic humans. These robots use sensors and cameras for navigation and human observations, providing personalized customer experiences. Budgetary allocations for technology development in healthcare and educational organizations, research funding programs, and start-ups are driving the market forward. Robotics, IoT, Big Data, and 5G technology are also playing crucial roles. Challenges include ensuring fair behavior, mobility assistive devices for disabilities, and demonstration of behavior in various environments, including industrial, commercial, and residential spaces. Path planning systems and human-robot interaction are essential for successful implementation.

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Segment Overview

This social robots market report extensively covers market segmentation by

Component1.1 Hardware1.2 Software1.3 ServicesEnd-user2.1 Healthcare2.2 Media and entertainment2.3 Education2.4 Retail2.5 OthersGeography3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Hardware- The social robots market encompasses the hardware segment, which involves components like processors, actuators, sensors, cameras, robotic arms, controllers, and power systems. The miniaturization of electronic components, such as sensors and actuators, along with advancements in batteries and control systems, fuel the demand for sophisticated social robots. Advanced cameras, such as LIDAR technology-integrated systems, are essential for social robots’ vision systems, enabling functions like object detection and facial recognition. Vendors prioritize investing in advanced technologies, including microprocessors, to boost social robots’ cognitive abilities. Qualcomm Inc.’s Robotics RB3 platform, featuring AI engines and heterogeneous computing, is an example of such advancements. As social robots’ functionalities evolve, their adoption in various applications increases, driving the demand for the hardware segment in the global social robots market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global market for humanoid robots, logistics robots, and autonomous mobile robots is experiencing rapid growth driven by advancements in AI and automation technologies. Humanoid robots are revolutionizing industries with their human-like capabilities, while logistics robots streamline warehouse operations, enhancing efficiency. Autonomous mobile robots are transforming logistics with their ability to navigate complex environments independently. These markets are poised for expansion as businesses seek innovative solutions to optimize operations and meet rising consumer demands for faster and more efficient services.

Research Analysis

Social robots are advanced technologies revolutionizing various industries, including robotics and automation, medical industries, autism therapy, workforces, and labor. These robots are designed to navigate social environments, utilizing sensors and cameras for perception and a path-planning system for mobility. The integration of AI technologies, such as natural language processing, facial recognition, and gesture detection, enhances their ability to interact with users. In the medical field, social robots offer companionship and emotional support for the elderly, while in education, they facilitate classroom interaction for students with disabilities. Neuroscientific and psychological insights inform the design of social robots, ensuring user experience is optimized. With the ongoing digitization, social robots are set to become an integral part of our lives, providing personalized services and enhancing human capabilities.

Market Research Overview

The Social Robots Market is experiencing significant growth as robotics and automation continue to revolutionize various industries. In the medical field, social robots are being used for autism therapy, rehabilitation, and elder care. These robots are designed with advanced technologies such as artificial intelligence (AI), sensors, and cameras to navigate social environments, understand people’s needs, and demonstrate fair behavior. In the education sector, social robots are being used to enhance classroom interaction for students with disabilities, improve cognitive and affective outcomes, and provide personalized tutoring. The use of facial expressions, gestures, and empathy in social robots is making therapy sessions more effective and engaging. The market is also being driven by budgetary allocations, technology development, and research funding programs in healthcare and educational organizations. Start-ups and AI technologies such as machine learning, IoT, big data, and 5G technology are also contributing to the growth of the social robots market in industrial, commercial, and residential spaces. The market is expected to continue growing as social robots become more integrated into our daily lives, providing personalized customer experiences, automating customer service, and improving the quality of life for individuals with disabilities and the aging population.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareServicesEnd-userHealthcareMedia And EntertainmentEducationRetailOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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DATAMARK Technologies Welcomes Industry Veteran Deb Rozeboom to Client Success Team

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Ms. Rozeboom to strengthen client relationships and enhance satisfaction in new role as Client Success Manager

PITTSBURGH, May 19, 2025 /PRNewswire/ — DATAMARK Technologies, a leader in interoperable solutions for public safety location services, today announced that Deb Rozeboom has joined the organization as Client Success Manager. In her new role, Ms. Rozeboom will build lasting relationships with clients, enhance client satisfaction and ensure they derive maximum value from DATAMARK Technologies’ products and services.

Ms. Rozeboom’s efforts will ensure that clients stay at the forefront of public safety geographic information systems (GIS) innovation by consistently delivering services and solutions that align with client objectives and enhance interoperability and effectiveness. This commitment supports the transition to Next Generation 9-1-1 (NG9-1-1) and indoor mapping. At DATAMARK Technologies, Client Success Managers partner with clients to maximize their investments while continually advancing their capabilities.

“DATAMARK Technologies is dedicated to client success and enhancing public safety location services through excellence and advocacy,” said Robert Murphy, Chief Revenue Officer at DATAMARK Technologies. “Deb’s extensive experience in public safety GIS and expertise in NG9-1-1 will be invaluable as we continue to elevate the client experience.”

Ms. Rozeboom joins DATAMARK Technologies with over 20 years of experience managing complex NG9-1-1 projects nationwide. Prior to joining DATAMARK Technologies, she held various roles at GeoComm, including Product Manager, GIS Solutions Engineer and General Manager. Additionally, she has served as an Adjunct Instructor for the National Emergency Numbers Association (NENA), teaching several NG9-1-1 and Addressing courses. She also co-chairs the NENA NG9-1-1 GIS Data Model Standard workgroup and is a member of the Geospatial Professional Network (GPN) Location, Enterprise Addressing and Public Safety (LEAP) Committee.

Ms. Rozeboom holds a Bachelor of Science degree in Ecology and Field Biology, as well as a Master’s Certificate in GIS, from St. Cloud University. She also has several industry certifications, including NENA Emergency Number Professional (ENP), GISC Geographic Information Systems Professional (GISP) and PMI Project Management Professional (PMP).

About DATAMARK Technologies
DATAMARK Technologies provides a new era of 9-1-1 and redefines interoperability for the public safety industry. The company combines DATAMARK, Michael Baker International’s public safety division known for best-in-class geographic information systems (GIS) data management and software solutions, with Digital Data Technologies, LLC (DDT), a top-tier Next Generation 9-1-1 (NG9-1-1) location services provider.

This strategic union heralds a new era of 9-1-1 and redefines geospatial data management for the public safety industry. DATAMARK Technologies offers a fully integrated solution that empowers public safety agencies to manage, maintain and leverage GIS data to the highest industry standards. The unified approach breaks down barriers of data silos to improve call routing accuracy, offer seamless discrepancy resolution and provide unwavering location fidelity for call takers with enhanced interoperability.

Contact: Julia Covelli
julia.covelli@mbakerintl.com 
(866) 293-4609

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Coupa Research Shows CFOs Embrace AI as Antidote to Economic Volatility and Growth Enabler

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Third annual Strategic CFO Study finds 40% of CFOs rank AI as top growth investment area; 90% look to mastering spend management as key to success in tumultuous times

FOSTER CITY, Calif., May 19, 2025 /PRNewswire/ — Amidst global economic uncertainty, rising inflation, and volatile trade, AI investment ranked as the top strategy for growth across all global CFOs surveyed by Coupa – a potential panacea to the volatility they are facing.

The Strategic CFO Report: Turning Global Market Uncertainty into Opportunity, released today by Coupa, the leading AI-native total spend management platform, reveals that almost half (46%) of CFOs see prominent external threats – geopolitics and supply chain disruption – as the greatest risk to business, dampening optimism from the start of 2025. Most notably, the introduction of new tariffs has created an additional challenge for 42% of CFOs, with more than a quarter (28%) of US CFOs planning to or already increasing inventory levels in preparation.

“Today’s finance leaders are facing an alarming set of external pressures and are navigating an ever changing set of risks which challenges their decision making. Despite these dynamic forces, they are driving cost discipline in order to fuel growth, building more resilient supply chains, and scaling their use of AI to fuel more efficient organizations,” said Michael Agresta, Coupa’s CFO. “A unified spend management platform and strategy is proving to be mission-critical in these times to create the agility, visibility, and resilience leaders need to fuel sustainable growth. Coupa’s AI-driven total spend management platform is uniquely built to help our customers navigate uncertainty, and offers CFOs the cloud and AI-native tools to drive margin improvements in any economic environment, making it a critical component for a strategic CFO’s tech stack.”

Tariffs Spur Margin Erosion Concerns
With 69% of CFOs concerned about meeting year-end goals, and 40% reporting extreme concern, it’s clear that much of the financial optimism at the start of the year has dissipated. Most recently, new tariffs and the fear of global trade wars have driven CFOs to act urgently – including increasing inventory levels (22%), automating processes to reduce operating expenses (21%), engaging in hedging strategies (19%), increasing product pricing (19%), and restructuring supply chain (18%). When surveyed on the greatest external threats to business, U.S. CFOs reported slightly lower concern levels (40%) on tariffs compared to their European counterparts, with German CFOs (48%) indicating the highest concern of all countries surveyed.

CFOs Looking to AI to Fuel Growth and Confidence
Despite the uncertain state of the economy, CFOs are asking themselves how best to respond. For today’s finance leaders, this means not over-reacting to every market fluctuation and instead providing thoughtful and inspired leadership – moving away from short-term fixes and prioritizing durable, sustainable growth strategies. A majority (74%) of CFOs are growing increasingly confident in AI, ranking it as the top growth investment area (40% of all CFOs) and AI implementation confidence concerns dropped 23% year-over-year.

“CFOs, including myself, are increasingly championing AI use within their organizations, but to do so effectively they must create a governance structure that is capable of quantifying the performance and financial benefits of AI. Nearly a quarter (23%) of CFOs we surveyed identified this as one of the major obstacles they will face in the next year,” said Agresta. “Beyond the numbers, CFOs need to strategically consider how to prioritize the deployment of new AI strategies and tools across their organizations to identify the highest value use cases but also need to empower employees to think AI first in order to get enterprise-wide adoption.” 

Drowning in Data, Struggling in Silos
In case the state of the economy and trade turmoil wasn’t challenging enough, risk management continues to increase organizational complexity, as 1 in 4 CFOs cited cybersecurity threats, data breaches, and fraud as the largest obstacle they will face this year. CFOs have immense amounts of data at their fingertips – but only 28% of CFOs can access their spend data within a single system and nearly half (41%) struggle to react quickly to cut costs as part of this roadblock. Some organizations are modernizing their data management, but few (33%) have unified processes to manage spend comprehensively. Nearly 1 in 5 CFOs cited outdated systems and data silos as the main hurdles to digital transformation, highlighting the need for increased modern tech adoption to effectively manage data and decrease risk.

Read the full Coupa Clarity Report, The Strategic CFO: Turning Global Market Uncertainty into Opportunity here.

To learn more about Coupa’s leading total spend management platform can help during these turbulent times, visit coupa.com.

Methodology
Coupa Clarity reports provide unique data and insights to help business leaders make smarter decisions to fuel growth, drive efficiency and productivity, and improve performance. This survey was conducted among 500 CFOs and finance leaders across the US, UK, Ireland, France and Germany. The survey was carried out online with an email invitation between November and December 2024 by Wakefield Research on behalf of Coupa.

About Coupa
Coupa is the leader in AI-native total spend management. Using its trusted, community-generated, $8 trillion dataset, Coupa brings autonomous AI agents, a network of 10M+ buyers and suppliers, and leading apps together on one unified platform to seamlessly automate the buying process and connect to customers in a whole new way. With Coupa, you’ll make margins multiply™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter).

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Caltech Announces Eight Recipients of the 2025 National Brown Investigator Award

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Each investigator, recognized for curiosity-driven research in chemistry or physics, will receive up to $2 million over five years.

PASADENA, Calif., May 19, 2025 /PRNewswire/ — The Brown Institute for Basic Sciences at Caltech today announced the 2025 class of Brown Investigators. The cohort, the second to be selected through the Brown Institute for Basic Sciences, comprises eight distinguished mid-career faculty working on fundamental challenges in the physical sciences, particularly those with potential long-term practical applications in chemistry and physics. Each investigator will receive up to $2 million over five years.

The Brown Institute for Basic Sciences at Caltech, established in 2023 through a $400-million gift to the Institute from entrepreneur, philanthropist, and alumnus Ross M. Brown (BS ’56, MS ’57), seeks to advance fundamental science discoveries with the potential to seed breakthroughs that benefit society—a goal it shares with Caltech.

“Mid-career faculty are at a time in their careers when they are poised and prepared to make profound contributions to their fields,” Brown says, “My continuing hope is that the resources provided by the Brown Investigator Awards will allow them to pursue riskier innovative ideas that extend beyond their existing research efforts and align with new or developing passions, especially during this time of funding uncertainty.”

The 2025 investigators are:

Dmitry Abanin, Professor of Physics, Princeton University, to develop a new theoretical and computational framework to describe the emergent properties of quantum materials and synthetic quantum systems away from thermal equilibrium.

László Kürti, Professor of Chemistry, Rice University, to invent chemical strategies for constructing stable neutral polynitrogen cages—molecules made entirely from nitrogen atoms that store extraordinary energy. These elusive structures remain intact under ambient conditions yet release energy on demand without combustion and decompose cleanly into hot nitrogen gas, offering a revolutionary platform for propulsion and energy storage.  

Mark Levin, Associate Professor of Chemistry, University of Chicago, to translate lessons learned from skeletal editing of aromatic compounds (stable chemicals with a flat ring structure) to reactions with aliphatic compounds (three-dimensional, more reactive chemicals), with the goal of providing access to unusual compounds that are inaccessible using traditional chemical synthesis. 

Brad Ramshaw, Associate Professor of Physics, Cornell University, to develop a new technique using ultrasound to probe the electronic states of atomically thin materials.

Cindy Regal, Professor of Physics, University of Colorado Boulder, and Baur-SPIE Chair at JILA, to demonstrate quantum entanglement—a connection between particles like photons or atoms that persists despite their physical distance—with objects of larger mass than have been entangled before.

Xavier Roy, Professor of Chemistry, Columbia University, to design and explore materials in which electrons face competing pathways for motion, giving rise to complex behaviors that, if controlled, could enable new kinds of quantum technologies.

Hailiang Wang, Professor of Chemistry, Yale University, to expand electrocatalysis to convert inorganic waste molecules, such as CO2 and NOx, into valuable and functional organic compounds containing multiple carbon–carbon and carbon–nitrogen bonds.

Joel Yuen-Zhou, Associate Professor of Chemistry and Biochemistry, UC San Diego, for theoretical and computational work to utilize the sensitivity of some chemical reactions to the spin of the electron in photoredox catalysis to make the reaction select one of two enantiomers (mirror-image forms of compounds).

Brown established the Investigator Awards in 2020 through the Brown Science Foundation in support of the belief that “scientific discovery is a driving force in the improvement of the human condition,” according to its news release from the Science Philanthropy Alliance, which helped guide Brown in realizing his philanthropic vision.

“We’re delighted to partner with Ross Brown and the members of the Scientific Advisory Board of the Brown Institute for Basic Sciences to identify and support outstanding investigators in fundamental chemistry and physics,” says Caltech Provost David A. Tirrell, Carl and Shirley Larson Provostial Chair and Ross McCollum-William H. Corcoran Professor of Chemistry and Chemical Engineering.

A total of 21 investigators were recognized in the first four years of the program, including eight in the 2024 class, the first cohort to be installed under the auspices of the Brown Institute for Basic Sciences at Caltech.

Previous awardees include MIT’s Nuh Gedik, who is developing a new kind of microscopy that images electrons photo-emitted from a surface while also measuring their energy and momentum; Kerri A. Pratt from the University of Michigan, for research to discover the chemical compounds and chemical mechanisms that define the composition of the Arctic’s atmosphere, which is warming faster than elsewhere on Earth; Andrea Young of UC Santa Barbara, who is using novel fabrication techniques to make new kinds of qubits, the quantum computing analog of classical bits, in two-dimensional materials; Columbia University’s Tanya Zelevinsky, who studies spectroscopy of cold molecules for fundamental physics; Princeton University’s Waseem Bakr, who works with ultracold quantum gases to realize scalable architectures for quantum computation, and Robert Knowles, whose research will explore a novel hypothesis for the evolution of homochirality—the presence in nature of only one of two mirror-image forms of biomolecules. Caltech’s David Hsieh, Donald A. Glaser Professor of Physics and executive officer for physics, was among two inaugural recipients of the award in 2020.

Brown Investigators from all cohorts are invited to an annual meeting that offers opportunities to share ideas. The second annual meeting was held at Caltech in February 2025.

To determine the new cohort, a select number of research universities from across the country were invited to nominate faculty members who had earned tenure within the last 10 years and who are doing innovative fundamental research in the physical sciences. Nominees were then evaluated by an independent scientific review board that recommended grant winners. In administering the program, Caltech refrains from nominating its own scientists for Brown Investigator Awards. In return, the Institute draws other funds from the Brown gift to support fundamental research in chemistry and physics.

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