Humanoid Robot Market Statistics, 2031
The global humanoid robot market was valued at $307.6 million in 2021, and is projected to reach $609.5 million by 2031, growing at a CAGR of 7.7% from 2022 to 2031.
Significant indicators that the field of robotics is undergoing major transformation and development include the rise in commercial investment, the appearance of international players, decreased hardware costs, and the popularity of the existing robots.
Humanoid robotics can be helpful in research on embodiment and consciousness as well as, more broadly, the neuro and cognitive sciences, aside from pure robotics. They are also pictured working in the entertainment industry as receptionists and engaging in various social interactions, such as helping elderly people. Companies like as SoftBank Robotics in Japan and PAL Robotics in Spain have invested heavily in the creation of humanoid robots, and they have incorporated this technology into their business strategy in a variety of ways. One of these companies’ primary objectives is to create robots that may be used in the service industry, specifically in healthcare, hospitality, and retail.
The high price of humanoid robot industry has been a major obstacle to their adoption, and finding the right financing and leasing options is just as important as choosing the right robot. When operating and deploying these robots, brick and mortar businesses need to carefully balance concerns about human labor. By giving businesses different payment options that can make the initial investment more manageable, financing and leasing options can assist in removing this barrier. Some robot distributors and manufacturers provide financing and leasing plans for their goods, enabling companies to pay for the robots over time rather than all at once.
The global market for humanoid robots is expected to experience significant growth potential due to the quick technological improvements in the creation of more effective and affordable robot models. Additionally, it is anticipated that the market will grow in the upcoming years due to the increasing adoption of humanoid robots for military & defense applications to provide battlefield intelligence, or the knowledge of enemy movements. In addition, the expanding trend of industry automation is anticipated to increase the demand for humanoid robots in the near future.
Segment Overview
The global humanoid robot market is segmented on the basis of component, application, motion type, and region. By component, the market is sub-segmented into hardware and software. By application, the market is classified into research & space exploration, education & entertainment, personal assistance & caregiving, hospitality, search & rescue, and others. By motion type, the market is classified into biped and wheel drive. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Component
The hardware sub-segment dominated the market in 2021. Hardware components in particular enhance humanoid robots' ability to interact with humans.Advances in materials science, robotics engineering, and control systems design have all contributed to the development of more sophisticated and capable robots that can perform a wider range of tasks with greater efficiency and precision. All these factors are driving the hardware sub segment during the forecast period.
By Application
The personal assistance & caregiving sub-segment dominated the global humanoid robot market share in 2021. Humanoid robots were viewed as a valuable resource during the coronavirus outbreak because the virus has no effect on them. They could easily monitor patients and offer vital services without assistance from humans. These machines are therefore being used more frequently, which raises their worth. The humanoid robots will be able to perform other fundamental medical tasks without endangering the health of human healthcare workers. These are predicted to be the major factors affecting the humanoid robot market size during the forecast period too.
By Motion Type
The wheel drive sub-segment dominated the global humanoid robot market share in 2021. The wheel drive robots are simple to build and can be programmed to navigate their environment. Because of its numerous advantages, demand for wheel-type robots in army & defense applications is expected to grow. Robots are used as entertainment in scientific fairs, theme parks, and amusement parks. These factors are expected to drive the humanoid robot market forecast period growth in the upcoming year.
By Region
Asia-Pacific dominated the global market in 2021 and is projected to remain the fastest-growing sub-segment during the forecast period. The presence of prominent competitors, as well as the adoption of automated systems by the majority of industry verticals, is expected to result in considerable development in the Asia-Pacific market. Furthermore, labor shortages combined with high labor costs are increasing the demand for humanoid robots to perform tasks in industries such as construction, manufacturing, and retail, which is expected to drive market growth in Asia-Pacific.
Competitive Analysis
The key players profiled in this report include HYULIM Robot Co., Ltd, HANSON ROBOTICS LTD, Engineered Arts Limited, Honda, KAWADA Robotics Corporation, SoftBank Robotics, Sanbot Co, ROBOTIS, Willow Garage, and Toshiba Corporation.
Impact of COVID-19 on the Global Humanoid Robot Industry
- COVID-19 pandemic slowed down the production and distribution of these robots. The disruption in supply chains due to the COVID-19 pandemic has affected many industries, including the development and production of humanoid robot market growth.
- COVID-19 pandemic has caused delays in the production of humanoid robots due to disruptions in the supply of essential components and materials. Manufacturers have had to either halt production or reduce the number of robots produced, which has slowed down the adoption of these robots.
- The disruption in supply chains has also led to an increase in the cost of materials and components used to build humanoid robots, which has made them more expensive for businesses and organizations to acquire.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the humanoid robot market analysis from 2021 to 2031 to identify the prevailing humanoid robot market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the humanoid robot market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global humanoid robot market trends, key players, market segments, application areas, and market growth strategies.
Humanoid Robot Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 609.5 million |
 Growth Rate | CAGR of 7.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 280 |
 By Component |
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 By Application |
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 By Motion Type |
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 By Region |
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 Key Market Players | HYULIM ROBOT, PAL ROBOTICS, Toshiba Corporation, KAWADA Robotics Corp., Honda Motor Co. Ltd., SoftBank Robotics, Trossen Robotics, Hajime Research Institute, Ltd., TOYOTA MOTOR CORPORATION, HANSON ROBOTICS LTD |
Growing developments in robot manufacturing, as well as increased usage of humanoid robots in the retail sector to improve user experience and engagement, have been identified as important driving factors for the humanoid robot market. Continuous improvements in technology to increase the cost effectiveness and efficiency of robots are likely to generate significant opportunities for the growth of the humanoid robot market.
The major growth strategies adopted by humanoid robot market players are investment and agreement.
Asia-Pacific will provide more business opportunities for the global humanoid robot market in future.
HYULIM Robot Co., Ltd, HANSON ROBOTICS LTD, Engineered Arts Limited, Honda, KAWADA Robotics Corporation, SoftBank Robotics, Sanbot Co, ROBOTIS, Willow Garage, and Toshiba Corporation are the major players in the humanoid robot market.
Personal assistance & caregiving sub-segment of the application acquired the maximum share of the global humanoid robot market in 2021.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global humanoid robot market from 2021 to 2031 to determine the prevailing opportunities.
Autonomous humanoid robots are becoming more prevalent, with robots that can navigate environments and perform tasks without human intervention. This includes robots that can perform tasks such as cleaning and maintenance in public spaces and commercial buildings.
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