Humanoid Robot Market

Global Humanoid Robot Market Size, Share, Growth Analysis, By Component(Hardware (Sensors, Actuator), By Application(Education, research), By Motion Type(Biped, Wheel Drive) - Industry Forecast 2023-2030


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

Global Humanoid Robot Market Insights

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). 

Humanoid robots have the appearance and attributes of people and are capable of walking upright. Humanoid robots have a head, arms, and legs, and their physical appearance is comparable to that of a human. Self-learning, a secure connection with the surrounding environment and humans, and self-maintenance are all features of these robots. They're employed in a variety of settings, including medical research, media & entertainment, vehicle manufacturing, non-public assistance, education, and many more. Humanoid robots have been developed using artificial intelligence techniques and algorithms in order to cope with difficult jobs, such as exploration missions.

In the development of humanoid robots, a variety of sensors (such as proprioceptive and exteroceptive sensors) and actuators are utilised to determine the surrounding qualities and assist the robots in working successfully. As a result, those factors are expected to enhance Humanoid Robot Market expansion around the world. Furthermore, the increasing use of humanoid robotics in the retail and academic sectors, as well as the introduction of new product launches, are a few of the factors driving Humanoid Robot Market expansion over the projection period.

Throughout the first half of 2021, the COVID-19 epidemic hampered the expansion of the humanoid robot market. The virus's rapid spread halted the export of humanoid robotic components, affecting humanoid robot manufacture throughout the first quarters of 2021. During this crisis, the primary goal of Humanoid Robot Market participants was to keep their businesses afloat by finding more secure ways to keep manufacturing activities running or other long-term revenue-generating strategies. In the medical field, however, demand for humanoid robots improved in the latter half of 2021. They were used in hospitals to ensure the safety of medical personnel and to carry food and drugs to those who were afflicted.

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

Market snapshot - 2023-2030

Global Market Size

USD 1.48 billion

Largest Segment

Hardware

Fastest Growth

Hardware

Growth Rate

42.1% CAGR

Global Humanoid Robot Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Humanoid Robot Market Size By Component, 2021-2028 ($ Bn)
Global Humanoid Robot Market Size By Component, 2021-2028 (%)

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Global Humanoid Robot Market Segmental Analysis

The Global Humanoid Robot Market is segmented based on Components, Application, Motion Type, and Region. Based on Components it is categorized into: Hardware (Sensors, Actuator, Power Source, Control System/Controller), and Software. Based on Application it is categorized into education and research, space exploration, Personal Assistance, Caregiving, and public relation. Based on Motion type it is categorized into: Biped, and Wheel Drive. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Humanoid Robot Market Analysis by Component

The components of a Humanoid Robot market may be broken down into hardware parts, controllers, actuators, power sources, and software, with the hardware category accounting for the greatest share in 2021. These hardware components give humanoid robots a lot of value by allowing them to look like humans and do tasks like humans. The control systems are the most important sub-component of a humanoid because they process the input from the sensors and transmit commands to the actuators to behave in accordance with the decision CPU's output. All of this is beneficial to the component manufacturer since it allows them to manufacture and sell the component at a profit. In the humanoid robot, both hardware and software play a vital role.

Humanoid Robot Market Analysis by Application

In 2021, personal help and caregiving will have the biggest Humanoid Robot Market share. During the COVID outbreak, the world saw humanoid robots as a significant aid because they are not affected by the virus and can perform simple patient monitoring and give other basic services without the need for human intervention. As a result, these computers are being adopted more quickly and their value is rising. Other basic medical activities can be easily completed by these robots without endangering the lives of human doctors.

It has a long history in the entertainment industry, since the first robotic arms were employed to transport the camera to challenging positions for filming where humans were present. And, thanks to technological developments, the reach of humanoid robots in movie production and filming has increased by 45 percent since the last time.

Humanoid robots are mostly used to demonstrate actions that would be impossible for humans to execute. Another life-threatening test is the automobile test, where humanoid robots are the only thing that can properly appraise the scenario and its repercussions. Every year, there is a double-digit rise in this industry, as safety certification is becoming obligatory for a variety of goods.

Global Humanoid Robot Market By Component, 2021 (%), 2021 (%)

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Global Humanoid Robot Market Regional Insights

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.

The employment of the humanoid in space exploration by NASA and ISRO for its marse missions is already well-known in the region. Another application for the humanoid is in the delivery of food and other goods to customers in the Middle East. Humanoids are used fairly in the region, as seen by the widespread employment of humanoid robots in eateries to serve clients.

Global Humanoid Robot Market By Geography, 2021 - 2028, 2023-2030
  • Largest
  • Fastest

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Global Humanoid Robot Market Dynamics

Humanoid Robot Market Driver

  • 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.

Humanoid Robot Market Restraint

  • Academic robots, programmable industrial or service provider robots, and other robots made with mass-market components may perform simple tasks and are easily available in the marketplace at a competitive price. The price disparity is almost 140 percent, which makes it impossible for the humanoid robot maker to compete. However, in the case of humanoid robots, the value of R&D incurred increases as the complexity of duties increases. The high cost of humanoid robots is a major stumbling block to the market's expansion. Component prices, repair and maintenance fees, and research and development fees for building a superior and expert humanoid robot make up the total cost of humanoid robots.

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Global Humanoid Robot Market Competitive Landscape

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.

Humanoid Robot Market Top Players Company Profiles

Humanoid Robot Market Recent Developments

  • In June 2022, Tesla announced that they may launch a humanoid robot by September 2022
  • In December 2021, a humanoid named Ameca was developed which can pet don a dog this shows the mimicking of emotion by the nonliving object for the first time.
  • In October 2021, UBTECH Inc. partnered with Ricoh Inc. to develop and maintain UVC High Power Ultraviolet Disinfection System.
  • In August 2021, Tesla Inc. co-founder Elon Musk is likely to develop a humanoid for dangerous work that can’t be performed by humans for the safety of human beings.
  • In January 2021, a humanoid namely ‘Sophia’ was mass-produced as the spread of COVID 19 accelerates in different parts of the world for automation of services.

Global Humanoid Robot Key Market Trends

  • 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.
  • NASA and other space agencies around the world send advanced Humanoid robots to outer space and other planets for several goals, ranging from photographing planets up close to evaluating whether they host life.

Global Humanoid Robot Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, current attempts to construct a Humanoid Robot, the growing product launch of Humanoid Robots through regulatory government and key players, respectively are predicted to pressure the marketplace increase over the forecast period. Furthermore, growing R&D sports in Humanoid Robot is anticipated to useful resource in the increase of the worldwide Humanoid Robot market, over the forecast period.

Report Metric Details
Market size value in 2021 USD 1.48 billion
Market size value in 2030 USD 34.96 billion
Growth Rate 42.1%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware (Sensors, Actuator, Power Source, Control System/Controller), Software
  • Application
    • Education, research, space exploration, Personal Assistance, Caregiving, public relation
  • Motion Type
    • Biped, Wheel Drive
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Humanoid Robot Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Humanoid Robot Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Humanoid Robot Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Humanoid Robot Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Humanoid Robot Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Humanoid Robot Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

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). 

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)'

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.

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.

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.

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