What is the global market size of Humanoid Robot Market?

Humanoid Robot Market size was valued at USD 1.48 billion in 2021 and is poised to grow from USD 2.10 billion in 2022 to USD 34.96 billion by 2030, growing at a CAGR of 42.1% in the forecast period (2023-2030).

Who are the key vendors in the Global Humanoid Robot Market?

The Global Humanoid Robot Market is concentrated, with a few big and medium-sized market participants accounting for a large portion of Humanoid Robot Market revenue. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements and contracts, and the development and testing of Humanoid Robot platforms. 'SoftBank Robotics (Japan)', 'ROBOTIS (South Korea)', 'KAWADA ROBOTICS CORPORATION (Japan)', 'Honda Motor Co., Ltd. (Japan)', 'UBTECH Robotics Corp. Ltd. (China)', 'HANSON ROBOTICS LTD. (Hong Kong)', 'PAL Robotics (Spain)', 'TOYOTA MOTOR CORPORATION (Japan)'.

What is the key driver of Global Humanoid Robot Market?

Technological advancements have influenced robotics demand and pushed its adoption through a variety of applications. Humanoid robots provide a great interface for human-robotic interactions because they can replicate human behaviour; as a result, people treat them as companions. All of this is the result of ongoing technological advancements and research in the robotics industry. Artificial intelligence, robotic hardware development, the conclusion of biped or wheel drive locomotion, and human-robotic interaction are the primary categories of humanoid robot research.

What is the key market trend for Global Humanoid Robot Market?

The Asia Pacific humanoid robotic market players are the primary inventors and innovators of the technology; as a result, the region is expected to account for the second-largest market share of 31.4 percent in 2022. At some point during the projected period, APAC is likely to pursue humanoids for nearly all the major applications. As the elderly population in Asia Pacific countries such as China and Japan grow, the area is expected to employ humanoids for personal assistance and caring.

Which region accounted for the largest share in Global Humanoid Robot Market?

Owing to widespread use of humanoid robots in retail and clinical research, as well as the existence of a large number of vendors in the region, North America is the most extensive region in the world in terms of marketplace proportion. Because of the widespread deployment of humanoid robots for non-public support and caregiving software in rising nations, such as China and India, Asia-Pacific is predicted to grow at the fastest rate, with a 34 percent CAGR during the projection period of 2022-2028.

Humanoid Robot Market Size, Share, Growth Analysis, By Component (Hardware, Actuator, Software), By Motion Type (Biped, Wheel Drive), By Application (Education & Research, Space Exploration, Personal Assistance, Caregiving, Public Relation), By Region-Industry Forecast 2024-2031

Report ID: SQMIG45J2082 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 94 | Figures: 64

Humanoid Robot Market Insights

Global Humanoid Robot Market size was valued at USD 1.53 Billion in 2022 and is poised to grow from USD 2.3 Billion in 2023 to USD 58.95 Billion by 2031, growing at a CAGR of 50% during the forecast period (2024-2031).

Humanoid robotics has applications outside pure robotics, including embodiment and awareness studies, as well as the brain and cognitive sciences in general. Owing to the rapid progress in technology, which has enabled the development of more economical and effective robot models, the global humanoid robot market is expected to exhibit substantial growth potential. The expanding usage of humanoid robots in military and defense applications to provide battlefield intelligence, that is, knowledge of adversary movements, is anticipated to fuel the industry's growth in the coming years. Moreover, rise in the trend of industry automation is expected to increase the demand for humanoid robots in the future. In addition, they are used in research, exploratory ventures in space, and other activities requiring remote connectivity. For instance, Jane Li, only an associate professor of robotic engineering at Worcester Polytechnic Institute in Massachusetts, and her team of researchers started work in April of 2022 on the design of human-shaped robots with advanced remote-controlled capacities to support medical personnel in caring for quarantined and isolated patients.

US Humanoid Robot Market is poised to grow at a sustainable CAGR for the next forecast year.

Humanoid Robot Market Report Snapshots

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Competition in the global humanoid robot market is highly competitive, comprising major players within the market. These players have introduced several innovative strategies such as mergers & acquisitions, product development & innovation, product diversification, collaborations, and partnerships to stay ahead in the market. 'PAL Robotics ', 'ROBOTIS', 'SoftBank Robotics ', 'ROBO GARAGE Co., Ltd. ', 'Robotics Lab ', 'Samsung Electronics Co., Ltd. ', 'EZ-Robot ', 'Kindred, Inc. ', 'Tesla ', 'Boston Dynamics ', 'Promobot Corp. ', 'Agility Robotics ', 'Engineered Arts Limited ', 'Toyota Motor Corporation ', 'Honda Motor Co., Ltd.'

The need for robotics has grown due to technological improvements, which have increased its usage in a variety of applications. As humanoid robots can mimic human behavior, people view them as companions, and they make an excellent interface for human-robotic interactions. All of this is the outcome of continuous technical development and robotics industry research. The four main domains of humanoid robot study are biped or wheel-driven locomotion, robotic hardware development, artificial intelligence, and human-robotic interaction.

The humanoid robot market is rapidly rising as artificial intelligence and robotics technologies progress. It allows companies to enhance and develop robots to be more human-like in their look and behavior. Such advanced interaction between humans and robots falls in areas concerning health, customer service, and entertainment. Innovations about machine learning and sensor technologies increase their capacity for handling complex situations, emotional interaction, and working areas within various environments.

North America dominated the industry. Most leading robotics companies and research institutions that, until now, have been at the frontier in developing humanoid robot technology are headquartered in North America. Humanoid robots have been using in R&D, education, entertainment, healthcare, and more by the US and Canada. Companies in North America are still lagging in using humanoid robots to facilitate learning among students, assist operations in medical fields, and provide experiences to customers.

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Humanoid Robot Market Size, Share, Growth Analysis, By Component (Hardware, Actuator, Software), By Motion Type (Biped, Wheel Drive), By Application (Education & Research, Space Exploration, Personal Assistance, Caregiving, Public Relation), By Region-Industry Forecast 2024-2031

Humanoid Robot Market Insights

Humanoid Robot Market Report Snapshots

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FAQs

What is the global market size of Humanoid Robot Market?

Who are the key vendors in the Humanoid Robot Market?

What is the key driver of Humanoid Robot Market?

What is the key market trend for Humanoid Robot Market?

Which region accounted for the largest share in Humanoid Robot Market?

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