Humanoid Robot Market Challenges by Top Players Strategy and Forecast to 2030

With the rapid growth of technological developments and an increasing number of players in the market, there has been a development in the field of Robotics. The surge in commercial investment, the emergence of global players, decreased hardware prices, and the growing popularity of the current robots are noteworthy signs signifying that the field of Robotics is undergoing substantial development and transformation. The worldwide market for humanoid robots is anticipated to experience significant growth potential owing to the rapid technological improvements in producing more affordable and effective robot models. Furthermore, the humanoid robot market is projected to grow in the coming years owing to the swelling adoption of humanoid robots for defense & military applications to deliver battlefield intelligence. Furthermore, the increasing trend of industry automation is expected to surge the demand for humanoid robots during the forecast period.

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Companies in the humanoid robot market are investing heavily in producing humanoid robots with advanced technology. For instance, in May 2020, Hanson Robotics collaborated with CereProc, a Scottish company based in Edinburgh. This collaboration aimed to enable Hanson Robotics to make live human-like expressive performances from its robots. Further, market players are also focusing on delivering humanoid robots, specifically in the healthcare industry, as the significant COVID-19 pandemic has amplified the opportunities for the market. For instance, in April 2020, Invento Robotics joined forces with startups, such as Niramai and Healthians, to turn its customer engagement humanoid into one that gathers patient data, takes temperature, and guides a person in the hospital during the COVID-19 outbreak. On the other hand, substantial barriers to the humanoid robot market growth include the high initial cost of the robots and investments in R&D activities. Further, the lack of progressive infrastructure essential for the production and design of humanoid robots is also expected to affect the humanoid robot market size adversely.

The list of companies for coordinate measuring machine market include:

1. Hajime Research Institute, Ltd
2. HYULIM Robot
3. HANSON ROBOTICS LTD
4. Honda Motor Co., Ltd
5. KAWADA Robotics Corporation
6. PAL Robotics
7. SAMSUNG CORPORATION
8. SoftBank Robotics
9. TOYOTA MOTOR CORPORATION
10. UBTECH Robotics, Inc
11. Dobot

Leading market players and manufacturers are studied to help give a brief idea about them in the report. The challenges faced by them and the reasons they are on that position are explained to help make a well informed decision. Competitive landscape of Market is given presenting detailed insights into the company profiles, developments, merges, acquisitions, economic status and best SWOT analysis.

NOTE: Our team is studying Covid-19 and its impact on various industry verticals and wherever required we will be considering Covid-19 analysis of markets and industries. Cordially get in touch for more details.

Segments-

Based on components, the humanoid robots market is classified into hardware and software. The hardware segment held the maximum revenue share in the humanoid robots market 2022. Humanoid robots can collaborate with individuals more efficiently due to hardware components. More complex robots with improved accuracy and efficiency may carry out a comprehensive range of activities owing to materials science, robotics engineering, and control system design developments. Hardware components, in particular, enhance humanoid robots' capability to interact with individuals.

By application, the humanoid robot market is segmented into research & space exploration, education & entertainment, personal assistance & caregiving, hospitality, search & rescue, and others. The hospitality segment garnered a significant revenue share in the humanoid robots market in 2022. The hospitality sector focuses on installing robots to assist with customer care procedures, from auxiliary robots to artificial intelligence chatbots. Robots in hotels are deployed to improve guest satisfaction. Further, front desk robots have made ordering easier in the hospitality sector. Deploying robots in restaurants and hotels is beneficial since COVID-19's impacts on the hospitality sector have made it essential to avert human-to-human contact and employee shortages.

By motion type, the humanoid robot's market is bifurcated into biped and wheel drive. In 2022 the wheel drive segment dominated the humanoid robots market with the maximum revenue share. The wheel-drive robots are easy to manufacture. Compared to two-legged robots, they are less likely to collapse as they can keep balance on solid groundwork. At science fairs, theme parks, and amusement parks, wheel-drive humanoid robots are regularly used as entertainment. These elements are projected to boost the humanoid robots market growth during the forecast period.

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This release was published on openPR.