The Humanoid Robot Mar6ket Size is valued at USD 1.53 billion in 2023 and is predicted to reach USD 24.4 billion by the year 2031 at a 41.5% CAGR during the forecast period for 2024-2031.
Humanoid robots are machines made to copy and emulate human appearance, actions, and skills. Because they communicate and carry out human-familiar duties, these robots are more friendly and simpler to deal with in human settings. The growing need for human security and ease as a result of technological advancements is driving the humanoid robot industry. The demand for humanoid collaborative robots will develop significantly as a result of the robot's ability to execute laborious and demanding activities that people shun due to technological robotics and artificial intelligence, especially learning from experience.
The medical sector's demand for humanoid robots is expected to increase significantly as a result of the usage of these devices in supported patient care, such as gynoids, interactive robots, and planar locomotion-based therapeutic robotics. Furthermore, the necessity to reduce employment expenses for repetitive positions demanding a great deal of power and to prevent using individuals for unsafe duties will drive the market for humanoid robots to expand.
However, one of the prominent factors limiting the growth of the global industry is growing concerns about security and protection. Cyber security vulnerabilities pose a serious threat to the worldwide humanoid robot industry as these advanced robots become more connected. This flaw raises worries about possible misuse and corruption of important data in addition to affecting the functionality and durability of humanoid robots. An assortment of connection concerns, data security challenges, and the potential for illegal function modifications increases the sensitivity of humanoid robots to digital dangers. It is anticipated that this major threat to their smooth operation and general security would provide a substantial obstacle for the sector, possibly limiting its rate of expansion.
Competitive Landscape
Some Major Key Players In The Humanoid Robot Market:
- SoftBank Robotics
- ROBOTIS
- Agility Robotics
- UBTECH Robotics
- Pal Robotics
- Toyota Motor Corporation
- Kawada Robotics Corporation
- Honda Motor Co, Ltd.
- Hanson Robotics Ltd
- Hyulim Robot
- Samsung
- Boston Dynamics
- Engineered Arts Ltd
- Sanctuary Cognitive Systems Corporation
- NASA
- APPTRONIK
- Macco Tecnología para el ocio, S.L.
- Tesla
- Promobot
- Invento Research Inc.
- Beyond Imagination
- Figure
- NVIDIA Corporation
- Other Market Players
Market Segmentation:
The humanoid robot market is segmented based on component, motion type and application. Based on the component, the market includes hardware (Sensors (Gyroscopes, Microphones, Accelerometers, Tilt sensors, Force/Torque sensors, Position sensors, Vision/Image sensors, Others), Actuators (Electrical, Pneumatic, Hydraulic, Piezoelectric, Ultrasonic), Power Sources, Control Systems/Controllers, Others) and software. By motion type, the market compirses biped and wheel drive. By application, the market is segmented into research and space exploration, education and entertainment, personal assistance and caregiving, hospitality, search and rescue, and others.
Based On The Motion Type, The Wheel Drive Humanoid Robot Market Segment Is Accounted As A Major Contributor To The Humanoid Robot Market
The wheel-driven humanoid robot market will hold a major global market share in 2023. Due to their many benefits, wheel-type robots are predicted to become increasingly popular in the military and security sectors. Wheel-driven humanoid robots are often utilized for entertainment in attractions, facilities, and educational activities. It is anticipated that these reasons will propel market expansion.
Hardware Segment To Witness Growth At A Rapid Rate
The hardware industry uses bulk humanoid robots because hardware components improve humanistic robots' human-robot interaction capabilities. Developments in material research, robotic technology, and management network architecture have facilitated the creation of increasingly complex and efficient robots that allow for carrying out a greater variety of activities with increased effectiveness and accuracy.
In The Region, The North American Humanoid Robot Market Holds A Significant Revenue Share.
The North American humanoid robot market is expected to record the significant market share in the near future. This can be attributed to accelerated AI technical development and greater automated processes. The strong intellectual research and business development in this area have made the US a global innovator. Substantial scientific research spending by public and private organizations, as well as educational institutions, also contributes to the market's expansion. In addition, Asia Pacific is projected to grow very fast in the global humanoid robot industry due to a various factors, including ageing populations, supporting legislation from the government, growing expenses for digitization in industries such as manufacturing, and advancements in robotics equipment, including actuators, sensor technology, and composites.
Recent Developments:
- In April 2024, Sanctuary Cognitive Systems Corporation and Magna International, a mobility technology company, established a partnership to enhance the development of humanoid robots for car manufacturing. This collaboration entails a comprehensive evaluation focused on improving the cost-effectiveness and scalability of humanoid robots using Magna's automotive product offerings, engineering expertise, and production proficiencies.
- In September 2023, Toyota Motor Corporation's subsidiary, Toyota Research Institute (TRI), has introduced a generative AI methodology that employs Diffusion Policy to rapidly instruct robots in acquiring new, dexterous abilities. This milestone, accomplished without the introduction of new code, improves robot functionality, representing a substantial advancement towards the development of "Large Behavior Models (LBMs)" for robots. TRI intends to impart hundreds of new abilities by the end of this year and an amazing 1,000 by the conclusion of 2024, utilizing these transformational technologies.
Humanoid Robot Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.53 Bn |
|
Revenue Forecast In 2031 |
USD 24.46 Bn |
|
Growth Rate CAGR |
CAGR of 41.5% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Component, Motion Type and Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
SoftBank Robotics, ROBOTIS, Agility Robotics, UBTECH Robotics, Pal Robotics, Toyota Motor Corporation, Kawada Robotics Corporation, Honda Motor Co, Ltd, Hanson Robotics Ltd, Hyulim Robot, Samsung, Macco Tecnología para el ocio, S.L., Tesla, promobot, Invento Research Inc., and Beyond Imagination among others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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