USD 1.48 billion
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: June, 2024
Pages:
157
|Tables:
94
|Figures:
64
Humanoid Robot Market Insights
Global Humanoid Robot Market was valued at USD 1.53 billion in 2022 and is expected to rise from USD 2.3 billion in 2023 to reach a value of USD 58.95 billion by 2031, at a CAGR of 50% during the forecast period (2024–2031).
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 - 2024–2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Hardware
Growth Rate
42.1% CAGR
Global Humanoid Robot Market ($ Bn)
Country Share for North America Region (%)
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Humanoid Robot Market Segmental Analysis
The global humanoid robot market is segmented based on components, motion type, application and region. Based on Components it is categorized into: Hardware (sensors [gyroscopes, microphones, accelerometers, tilt sensors, force/torque sensors, position sensors, vision/image sensors and others], actuator [electrical, pneumatic, hydraulic, piezoelectric and ultrasonic], power source, control system/controller), and Software. Based on Motion type it is categorized into: Biped, and Wheel Drive. Based on Application it is categorized into education and research, space exploration, personal assistance, caregiving, and public relation. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Component
The hardware segment is said to be the dominating segment accounting for major market share. 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. All these factors further support the dominance of this segment
Whereas the software segment has emerged as the fastest growing segment with a CAGR of 18%. The software feature present in the humanoid robots helps it to perform difficult tasks while interacting with the environment. When compared to hardware, software offers continuous upgrades, improvements as well as customization of behaviours, interaction and applications of robots. Advanced software enables adaptability, and interaction capabilities more intelligently with humans as the environment broadens its applicability across sectors such as healthcare, customer service, and education. Thereby driving higher demand and investment into humanoid robot software. All these factors together act as a principal trigger for growth in the market.
Analysis by Application
Personal help and caregiving will have the biggest 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. Every year, there is a double-digit rise in this industry, as safety certification is becoming obligatory for a variety of goods.
The education and entertainment segment is anticipated to grow at a faster CAGR during the forecast period. Educational sector is heavily using humanoid robots to offer better learning opportunities for students. They are also being employed at amusement parks, museums, exhibitions and many such events for entertaining purposes. For instance, in July 2023, the International Telecommunication Union organised AI for Good Global Summit. In this summit, 51 novel robots were displayed. Out of 51 9 were humanoid, ready to assist people. These innovations and exhibitions create awareness among the people which drives the demand of this segment.
Global Humanoid Robot Market By Component (%)
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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 Region
- Largest
- Fastest
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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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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
- SoftBank Robotics (Japan)
- Honda Motor Co., Ltd. (Japan)
- Toyota Motor Corporation (Japan)
- ROBOTIS (South Korea)
- KAWADA ROBOTICS CORPORATION (Japan)
- UBTECH Robotics Corp. Ltd. (China)
- HANSON ROBOTICS LTD. (Hong Kong)
- PAL Robotics (Spain)
- HYULIM Robot Co., Ltd (South Korea)
- Engineered Arts Limited (UK)
- Hajime Research Institute, Ltd. (Japan)
- National Aeronautics and Space Administration (NASA) (US)
- ROBO GARAGE Co., Ltd. (Japan)
- Istituto Italiano di Tecnologia (IIT) (Italy)
- Robotics Lab (Spain)
- Samsung Electronics Co., Ltd. (South Korea)
- Promobot Corp. (US)
- EZ-Robot (Canada)
- Macco Robotics (Spain)
- Boston Dynamics (US)
- Advanced Telecommunications Research Institute International (ATR) (Japan)
- Wowwee Group Limited (Hong Kong)
- Kindred, Inc. (US)
- Tesla (US)
- Agility Robotics (US)
Humanoid Robot Market Recent Developments
- In July 2024, Tesla announced that it will manufacture humanoid robots that could be available by next year. It was firstly named as “Tesla Bot” and was revealed in 2021 at a Tesla AI Day event. Over the last few years, the robot’s design has drastically changed. Recently it was renamed Optimus, the humanlike robot, designed to perform dangerous work and repetitive tasks.
- In April 2024, SUPCON Technology Co. this month announced the Zhejiang Humanoid Robot Innovation Center and the debut of its first self-developed humanoid, Navigator α.
- In April 2024, Beijing Humanoid Innovation Center, unveiled "Tiangong", China’s first self-developed general-purpose humanoid robot. It is also described as the world's first full-sized humanoid robot capable of running solely on electric drive. The robot can maintain a steady speed of six kilometers per hour and is an independently developed humanoid robot platform poised for broader industry adoption.
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.
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 2022 | USD 1.53 billion |
| Market size value in 2031 | USD 58.95 billion |
| Growth Rate | 50% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 | Free report customization with purchase. Customization includes:-
|
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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 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
- Exhibit: Impact analysis of DROC, 2021
- 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 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the 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 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 Humanoid Robot Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
Humanoid Robot Market Report Snapshots
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