Market Overview:
The global AI companion market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for AI companions in various applications such as hospitals, homes, and nursing homes. North America is expected to hold the largest share of the global AI companion market in 2018, followed by Europe and Asia Pacific. However, Asia Pacific is projected to witness the highest CAGR during the forecast period due to rising adoption of AI companions in countries such as China and Japan.
Product Definition:
An AI Companion is a computer system that assists humans in their activities and provides companionship. The importance of AI Companions is that they can help people with tasks, provide social interaction, and improve quality of life.
Application:
Application is a software or set of rules, which is used to automate and run tasks performed by human intelligence. It can be in the form of an applet, algorithm or program. Application plays a vital role in AI companion as it helps in performing various tasks such as scheduling meetings, making appointments for clients and employees among others. The growth factor for application usage in AI companion market is its ability to streamline business processes through automation thereby increasing productivity while reducing manual efforts.
Robot:
Robot is an automated device or software program which performs tasks which are usually done by humans. It can be used for household, commercial or industrial applications. The market size of robot and it's usage in AI companion is expected to witness significant growth over the forecast period owing to increasing demand from elderly care facilities and home assistance services sector among other sectors where robots can perform tasks more efficiently than human beings.
Application Insights:
The market for artificial intelligence companion is segmented into three applications, which include hospital, home and nursing home. Hospital was the largest application segment in 2017 and is expected to maintain its lead over the forecast period. The growing need for medical assistance at a time of emergencies or accidents has led to an increase in demand for advanced robots that can assist patients with mobility problems or provide company during hospital stay.
In hospitals, these AI companions are used as patient advocates by providing information regarding ongoing clinical trials or new treatment options available at a given moment. They are also used by doctors and nurses as assistants during surgeries by monitoring vital signs of patients remotely; alerting about any change in health conditions; offering reminders about upcoming appointments etc., These robots can be helpful not only while being hospitalized but also after discharge from the healthcare facility if there are any follow-up appointments scheduled etc.
Regional Analysis:
North America dominated the global market in 2017. The growing geriatric population and increasing demand for companion robots are expected to drive the regional market over the forecast period. Europe is also anticipated to witness considerable growth due to rising investments by companies in this region. For instance, Kistler Instrumente AG has developed a smart robot called R&C Smart Robotic Companion for people with disabilities that can be integrated into a wheelchair or carried by hand. Asia Pacific is projected to grow at an exponential rate of nearly 30% from 2018 to 2030 owing high adoption rates of advanced technologies such as artificial intelligence (AI) and machine learning among other things, especially in developing countries such as China and India.
Growth Factors:
- Increasing demand for AI-enabled devices and services
- Growing number of AI developers and startups
- Rising adoption of AI by businesses
- Advances in artificial intelligence technology
- Increased funding for AI startups
Scope Of The Report
Report Attributes
Report Details
Report Title
AI Companion Market Research Report
By Type
Application, Robot, Others
By Application
Hospital, Home, Nursing Home
By Companies
Replika, Tyche, Luvozo, Ubtech, Hanson Robitics, Emotix, No Isolation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
120
Number of Tables & Figures
84
Customization Available
Yes, the report can be customized as per your need.
Global AI Companion Market Report Segments:
The global AI Companion market is segmented on the basis of:
Types
Application, Robot, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Home, Nursing Home
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Replika
- Tyche
- Luvozo
- Ubtech
- Hanson Robitics
- Emotix
- No Isolation
Highlights of The AI Companion Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Application
- Robot
- Others
- By Application:
- Hospital
- Home
- Nursing Home
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the AI Companion Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
AI Companion is a virtual assistant that helps you with tasks such as scheduling appointments, finding information, and more.
Some of the major players in the ai companion market are Replika, Tyche, Luvozo, Ubtech, Hanson Robitics, Emotix, No Isolation.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 AI Companion Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 AI Companion Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 AI Companion Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the AI Companion Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global AI Companion Market Size & Forecast, 2020-2028 4.5.1 AI Companion Market Size and Y-o-Y Growth 4.5.2 AI Companion Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Application
5.2.2 Robot
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Home
6.2.3 Nursing Home
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global AI Companion Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 AI Companion Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Application
9.6.2 Robot
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Home
9.10.3 Nursing Home
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Application
10.6.2 Robot
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Home
10.10.3 Nursing Home
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Application
11.6.2 Robot
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Home
11.10.3 Nursing Home
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Application
12.6.2 Robot
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Home
12.10.3 Nursing Home
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Application
13.6.2 Robot
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Home
13.10.3 Nursing Home
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 AI Companion Market: Competitive Dashboard
14.2 Global AI Companion Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Replika
14.3.2 Tyche
14.3.3 Luvozo
14.3.4 Ubtech
14.3.5 Hanson Robitics
14.3.6 Emotix
14.3.7 No Isolation