Interactive Robots Market Growing at 74.69% CAGR to 2020
According to the Interactive Robots market report, an analyst says the latest trend gaining momentum in the market is Advances in artificial intelligence technology. Artificial intelligence is a set of technologies that can be imparted in smart phones, home devices, advanced robots, and connected vehicles. Advances in artificial intelligence have allowed digital devices to undertake complex tasks with understanding and learning. Thus, devices can recognize language and emotional and social dexterity and respond accordingly says a latest research at ReportsnReports.com.
The global interactive robots market is expected to grow at a CAGR of 74.69% during the period 2017-2021. According to the interactive robots market report, one of the major drivers for this market is Innovation budget by governments for robotics. Increasing budgets and subsidies for innovating robotics solutions to increase their deployment is driving innovations in interactive robots to increase their use in multiple applications. Subsidies are driving established and new players to implement more experiments in interactive robots. Over the decade, a number of companies have come up with improved robots that can interact more socially and emotionally.
Main players in the global interactive robots market: Softbank Robotics, Blue Frog Robotics, Vstone, Savioke, and Pal Robotics. Other Prominent Vendors in the market are: Ecovacs Robotics, Future Robotics, ASUS, Fellow Robots, AvatarMind, Robot Care System, Bossa Nova Robotics, and Honda.
Further, the report states that one of the major factors hindering the growth of interactive robots market is High complexity in designing. Interactive robots are very complex in their designing. As they are expected to retain gestures, emotions, and movement as human beings, the complexity involved in programming and set-up increases further. As the demand for the social involvement of robots is increasing, robots need to be aware of emotions such as joy, excitement, anger, shy, and others. For instance, robots placed in commercial places as a sales assistant, which react to the emotions of customers and explain the characteristics are more effective.
This report, Global Interactive Robots Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.