NEW YORK, Dec. 12, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global humanoid robot market size is estimated to grow by USD 16.99 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 45.57% during the forecast period.
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Report Attribute | Details |
Base Year | 2023 |
Forecast period | 2024-2028 |
Historic Data for | 2018 – 2022 |
Segments Covered | Application (Personal assistance and caregiving, Research and space exploration, Education and entertainment, Search and rescue, and Public relations), Component (Hardware and Software), and Geography (North America, APAC, Europe, Middle East and Africa, and South America) |
Key Companies Covered | Engineered Arts Ltd., EZRobot Inc., Figure AI Inc., HAHN Group GmbH, HANSON ROBOTICS Ltd., Hasbro Inc., Honda Motor Co. Ltd., Hyundai Motor Co., Invento Research Inc., Kawada Robotics Co. Ltd., Macco Robotics, PAL Robotics, Promobot LLC, ROBO GARAGE CO. LTD., Robosen Technologies Ltd, ROBOTIS Co. Ltd, Toyota Motor Corp., Trossen Robotics, UBTECH Robotics Inc.,United Robotics Group GmbH, HYULIM Robot Co., Ltd; HANSON ROBOTICS LTD; Engineered Arts Limited; Honda; KAWADA Robotics Corporation; SoftBank Robotics; Sanbot Co; ROBOTIS; Willow Garage; Toshiba Corporation |
Regions Covered | North America, APAC, Europe, Middle East and Africa, and South America |
Region Outlook
- North America
- Europe
- Asia
- Rest of World
1. North America – APAC is estimated to contribute 36%. To the growth of the global market. The Humanoid Robot Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.
The humanoid robot market in North America is experiencing growth due to increasing demand from the medical sector, advanced features in humanoid robots, and rising need for personal assistance in retail and education. In the automotive industry, the use of humanoid robots is expanding, with the US ranking third globally in robot density in this sector. In 2021, there was a 14% growth in the adoption of humanoid robots in North American automotive manufacturing. These robots offer benefits such as improved precision, efficiency, and safety, making them an attractive investment for businesses. The market is expected to continue growing as technology advances and industries discover new applications for humanoid robots.
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Segmentation Overview
- Application
- 1.1 Personal assistance and caregiving
- 1.2 Research and space exploration
- 1.3 Education and entertainment
- 1.4 Search and rescue
- 1.5 Public relations
- Component
- 2.1 Hardware
- 2.2 Software
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 Middle East and Africa
- 3.5 South America
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1.1 Fastest growing segment:
The personal assistance and caregiving segment of the global humanoid robot market is experiencing notable growth due to the increasing demand for robots that can help people with daily living tasks and provide companionship and mental health support. Key players, such as HANSON ROBOTICS, Toyota, and PAL Robotics, are developing humanoid robots with diverse capabilities, from basic tasks to advanced functions like conversing and emotion recognition. The aging population, rising home care demands, and technological advancements fuel market expansion. Startups and smaller companies also contribute, offering specialized humanoid robots for specific applications, like autism therapy or mobility assistance. Overall, the personal assistance and caregiving segment’s growth will continue to drive the global humanoid robot market, as robots become increasingly capable and the need for caregiving services increases.
Research Analysis
The Humanoid Robot Market is experiencing rapid growth as advancements in AI, autonomy, and cognitive science drive innovation in various industries. Robots are being integrated into sectors such as aerospace for exploration and astronaut assistance, amusement parks for customer engagement, and assisted living for elderly care. In the future, humanoid robots are expected to revolutionize industries like grocery stores and hospitality, providing improved customer satisfaction and efficiency. Applications in fields like art, consciousness, and behavioral sciences are also emerging, broadening the scope of humanoid robotics. Companies are leveraging Ansys for simulation and design, while autonomous robots are being used in duty roles like elevators and electric generators. Foreign language capabilities add to their versatility, making humanoid robots an essential part of our future.
Market Overview
The Humanoid Robot Market is experiencing rapid growth as AI technology advances and robots become increasingly integrated into various industries. From ‘AI for Good’ projects to aerospace and amusement parks, humanoid robots are making waves in exploration, assisted living, and customer engagement. In the realm of art and behavioral sciences, robots are pushing boundaries in cognitive science, consciousness, and neuroscience. The marketplace also includes applications in manufacturing, such as autonomous robots for assembly lines and electric generators. In the future, humanoid robots will be found in grocery stores, hospitals, and even isolation wards, providing essential services with motivation and relevance. The market is driven by investment and policy, with startups and subsidies playing a significant role in innovation. Robots are also being used for payment systems, language translation, and even music composition. The possibilities are endless, from simulation software for strategic management to robots that can learn and adapt to their environment. The humanoid robot market is shaping the future of various industries and our daily lives.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
11.1 HYULIM Robot Co., Ltd
11.2 HANSON ROBOTICS LTD
11.3 Engineered Arts Limited
11.4 Honda
11.5 KAWADA Robotics Corporation
11.6 SoftBank Robotics
11.7 Sanbot Co
11.8 ROBOTIS
11.9 Willow Garage
11.10 Toshiba Corporation
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
