Humanoid Robot Market Key Players are: Ubtech Robotics, DST Robot, Engineered Arts, Toshiba, Softbank Robotics, Hanson Robotics, Qihan Technology, Kawada
Humanoid Robot Market is expected to grow at over 40% CAGR to reach USD 5 billion by 2024. Surge in demand for robots in the retail sector to provide assistance and improve the overall customer experience is anticipated to drive the humanoid robot market growth over the forecast timeline. Due to the incompetence of traditional promotional & advertisement events managed by brick and mortar outlets, the industry is currently witnessing increasing installation of such devices. The deployment across the industries helps in enhancing the overall customer experience by providing them with customized experience and has huge potential to promote any product or service in an effective manner.
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Incorporation of AI into these systems enable them to identify customers and offer recommendations to customers based on their purchase history. Humanoid robot market combined with smart AI tools offering integrated and seamless customer experiences, enable the industries to enhance their ability of providing experience to customers rather than just selling a product. The increasing penetration of humanoid robots in various sectors enable interactive experience resulting in deepening the engagement with in-store customers, further contributing towards the humanoid robot market growth.
Top Key Players: -
Companies operating in the humanoid robot industry include Ubtech Robotics, DST Robot, Engineered Arts, Toshiba, Softbank Robotics, Hanson Robotics, Qihan Technology, Kawada, Hajime Research Institute, Honda and Bluefrog Robotics.
Regional Segmentations: -
Humanoid robot market in Asia Pacific is predicted to grow in a significant manner. It can be accredited to the existence of large number of players followed by the increasing investments in R&D. In addition, increasing number of new players in the industry offering advanced features that is substantially contributing to the regional demand.
MEA humanoid robot market is estimated to grow at around 30% CAGR in terms of revenue over the forecast timeline. It can be credited to the growing deployment of the robots for patrolling busy areas, as a part of government initiative aimed at replacing human security staffs with robots. Moreover, the regional government’s plan to reduce the number of police force by incorporating robots for chasing down suspects and collecting evidence further contributes to the humanoid robot market demand.
Competitive Market: -
Partial Chapter of the Table of Content
Chapter 5. Humanoid Robot Market, By Application
5.1. Global humanoid robot market share by application, 2016 & 2024
5.2.1. Market estimates and forecast, 2015 - 2024
5.2.2. Market estimates and forecast, by region, 2015 – 2024
5.3.1. Market estimates and forecast, 2015 - 2024
5.3.2. Market estimates and forecast, by region, 2015 – 2024
5.4.1. Market estimates and forecast, 2015 - 2024
5.4.2. Market estimates and forecast, by region, 2015 - 2024
5.5. Education & scientific research
5.5.1. Market estimates and forecast, 2015 - 2024
5.5.2. Market estimates and forecast, by region, 2015 – 2024
5.6.1. Market estimates and forecast, 2015 - 2024
5.6.2. Market estimates and forecast, by region, 2015 – 2024
5.7. Military & defense
5.7.1. Market estimates and forecast, 2015 - 2024
5.7.2. Market estimates and forecast, by region, 2015 – 2024
5.8.1. Market estimates and forecast, 2015 - 2024
5.8.2. Market estimates and forecast, by region, 2015 - 2024
5.9. Underwater systems
5.9.1. Market estimates and forecast, 2015 - 2024
5.9.2. Market estimates and forecast, by region, 2015 - 2024
5.10.1. Market estimates and forecast, 2015 - 2024
5.10.2. Market estimates and forecast, by region, 2015 – 2024
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Demand for wheel drive robots is on the rise and anticipated to witness significant growth over the forecast timespan. It can be attributed to the increasing utilization of such devices to enhance the customer engagement across various sectors such as education, hospitality, retail and healthcare.
Moreover, the devices have the potential to transform various business operations & customer engagement and could be considered as an evolutionary tool for human augmentation instead of viewing as an automated addition. Incorporation of advanced technologies such as AI, facial recognition and emotion recognition is an emerging trend in the industry to improvise the customer interaction providing impetus to the humanoid robot market.
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