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Humanoid Robot Market Competitive Dynamics & Global Outlook By 2025

02-05-2019 06:39 PM CET | IT, New Media & Software

Press release from: Transparency Market Research

Humanoid Robot Market Competitive Dynamics & Global Outlook

Humanoid robots are robots that resemble the body shape and characteristics of humans such as the ability to walk in upright position. Humanoid robots typically possess physical appearance similar to that of a human, including two arms, two legs, and a head. Characteristics of humanoid robots include autonomous learning, safe interaction with the surrounding environment and humans, and self-maintenance.

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Humanoid robots are employed in various applications such as scientific research, personal assistance, entertainment, automotive manufacturing line, education, and greeting guests and visitors. Usage of humanoid robots developed with artificial intelligence algorithms is expected to increase in perilous tasks such as space exploration missions. Various sensors including proprioceptive and exteroceptive sensors and actuators are used in humanoid robots to measure the surrounding attributes in order to help the robots work efficiently.

Rise in demand for humanoid robots from the retail industry, increase in usage of humanoid robots in education and research purposes, and significant technological advancements in robotics are some of the key factors expected to drive the global humanoid robots market during the forecast period. Furthermore, usage of humanoid robots to greet and advise customers and present and demonstrate products in retail outlets is on the rise.

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Moreover, humanoid robots are an effective way of gathering consumer data such as gender, phone numbers, zip codes, email addresses, habits, and service feedback that help stores in serving their customers efficiently. Considering this, a number of retail outlets are adopting humanoid robots to enhance their customer experience. In September 2017, Sprint Corporation, a U.S.-based telecommunication service provider, announced the implementation of Pepper, a humanoid robot developed by SoftBank

Robotics Corp. in its retail outlets. The company is planning to use the robot to gain market insights by engaging it with customers in its stores. SoftBank has deployed more than 10,000 Pepper robots in various organizations across the globe including Pizza Hut, Singapore. In several developed countries, humanoid robots are being deployed in classrooms to impart math, science, engineering, and technology lessons. Developed by the University of California, RUBI, a humanoid robot, is being used by a number of preschools in California to teach foreign languages to students.

However, significant capital investments in research and development and high cost of humanoid robots are some of the factors expected to hinder the growth of the humanoid robot market. Nonetheless, growing geriatric population in counties such as Japan and China is anticipated to present lucrative opportunities to the humanoid robot market during the forecast period. Humanoid robots can be used to help aged people with their daily activities.

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The global humanoid robot market can be segmented on the basis of component, application, and region. Based on component, the humanoid robot market can be divided into hardware and software. The hardware segment of the humanoid robot market can be further classified into sensor, actuator, controller, power source, and others. Rise in adoption of artificial intelligence algorithms in humanoid robots to boost robots’ performance is expected to a primary reason for the leading market share of the software segment. In terms of application, the humanoid robot market can be categorized into personal assistance, education, search & rescue, entertainment, research & space exploration, public relations, and others. Increase in implementation of robots in retail outlets to enhance customer experience is expected to push the revenues of public relations segment of the humanoid robot market.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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