Humanoid robots are robots that usually be similar to the body shape and attributes of humans, like the capability to walk in an upright position. Humanoid robots also possess a physical appearance similar to that of a human, which includes a head, two arms, and two legs. These robots often have the attribute of autonomous learning, safe collaboration with the adjacent environment and humans, and self-maintenance. They are employed in several application areas, including scientific research, media & entertainment, automotive manufacturing line, personal assistance, education, and many others. Humanoid robots have been developed with artificial intelligence techniques and algorithms to increase extreme tasks, such as space exploration missions. Several sensors (such as proprioceptive and exteroceptive sensors) and actuators are also used in the development of humanoid robots to determine the surrounding attributes to help the robots work effectively. Therefore, these factors are anticipated to accelerate market growth around the world. Moreover, the increasing usage of a humanoid robots in the retail and educational sectors, along with the advent of product launches are few other factors responsible for the market growth over the forecast period. For instance, in 2019, Russia has introduced a new humanoid robot, named Fyodor to the International Space Station (ISS) on the first unscrewed Soyuz spacecraft. Similarly, in 2017, Dubai police have revealed a new Robocop, a humanoid robot, which aimed at aiding individuals in malls & streets, secure the city as well as fight crime. Therefore, such a type of initiative is expected to accelerate the demand for Humanoid Robots around the world. Recently, the COVID-19 is widely spread throughout the world, thus the utility for humanoid robots has surged, due to the technological enhancements in humanoid robots help in managing enormous staffing deficiencies in the supply chain and healthcare owing to the requirement of social distancing to prevent the spread of novel coronavirus. This is likely to strengthen the usage of humanoid robots thereby, the market would grow at a significant rate in the forthcoming year. However, the high initial cost and R&D expense are the major factors impeding the market growth over the forecast period of 2020-2027.
Global Humanoid Robot Market is valued at approximately USD 1,107 million in 2019 and is anticipated to grow with a healthy growth rate of more than 35% over the forecast period 2020-2027.
The regional analysis of the global Humanoid Robot market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high adoption of humanoid robots in retail and scientific research, along with the presence of a significant number of vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, due to the high deployment of humanoid robots for personal assistance and caregiving application in emerging countries, such as China and India.
Major market players included in this report are: DST Robot Co., Engineered Arts Limited, Hajime Research Institute, Hanson Robotics Limited, Honda Robotics ASIMO, Kawada Robotics Corp., Qihan Technology Co., Ltd., SoftBank Robotics Corp, Toshiba Corporation, Trossen Robotics, Ubtech Robotics Corp.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product: Wheel Drive, Biped
By Application: Retail, Hospitality, Education & Scientific Research, Healthcare, Military & Defense, Others
By Region: North America, Europe, Asia Pacific, Latin America, Rest of the World
Furthermore, the years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Humanoid Robot Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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