Global Emotional Therapy Robots Market 2017-2021
About Emotional Therapy Robots
Emotional therapy robots simulate a pet or a toy. The main function of this robot is to increase user interaction in an intelligent manner to enhance the health and psychological well-being by providing companionship. These robots are mainly utilized to increase social engagement of people suffering from dementia, and children with autism. Interactive technologies are gaining ground to ease stress and anxiety among people, using advanced technologies that include virtual reality approaches, cognitive behavioral therapy, artificial intelligence, and robots. Emotional therapy robots enhance social interaction of the people involved and improve their recovery.
Technavio’s analysts forecast the global emotional therapy robots market to grow at a CAGR of 37.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global emotional therapy robots market for 2017-2021. To calculate the market size, the report considers the revenue earned by manufacturers of these robots.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Emotional Therapy Robots Market 2017-2021
Technavio recognizes the following companies as the key players in the global emotional therapy robots market: BeatBots, Hasbro, Interbots, PARO Robots, and Softbank Group
Other Prominent Vendors in the market are: Omron and Sony.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in healthcare spending. Many countries are heavily investing in the healthcare and rehabilitation sector, and the growth momentum for R&D related to this sector is also expected to increase. Countries such as the US, Australia, Singapore, Japan, Germany, and Denmark have invested heavily in the healthcare sector, and present a huge growth potential for the emotional therapy robots market. In 2015, the US healthcare expenditure contribution increased by almost 5% to $3.2 trillion, compared with 2014. The corresponding number for Europe was about 8%-10% which is expected to increase further during the forecast period. This has enabled patients to opt for sophisticated robotic therapies instead of traditional therapies.”
According to the report, one of the major drivers for this market is Low-cost emotional therapy robots. With the rapidly growing population above the age of 65, the demand for robots for physical assistance and emotional therapy is also increasing. The requirement of emotional support is not only restricted to the elderly; children with cognitive and social problems also require such solutions for assistance. The field of robotics has rapidly advanced over the years, and has come up with physical embodiments that are autonomous, interactive, and communicative. The advent of artificial intelligence has enabled these machines to understand emotions and interact in real-time environments. Emotional therapy robots are also developed with these advanced technologies to support people suffering from social isolation ailments.
Further, the report states that one of the major factors hindering the growth of this market is High complexity in design. Emotional therapy robots are very complex in design. As they are expected to retain gestures, emotions, and movement similar to 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, shyness, and others. For instance, robots targeted at interacting with autistic children have to be equipped with the enhanced capability to perform multiple tasks such as eating food, dancing, and riding, which can be imitated by the children to decrease behavioral frustration.
BeatBots, Hasbro, Interbots, PARO Robots, and Softbank Group, Omron and Sony.