Report ID: SQMG45J2003 | Region: Global | Published Date: December, 2022 | Pages: 157
The Global Humanoid Robot Market had a valuation of USD 1.48 Billion in 2021, and it is expected to reach a valuation of USD 17.32 Billion by 2028, at a CAGR of 42.1% over the forecast period (2022-2028).
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.
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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.
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.
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.
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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.
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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.
Top Players Company Profiles
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.
|Market size value in 2028||USD 17.32 Billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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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.
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