Humanoid Robot Market Size, Share, Growth, Industry Trends and Outlook 2023-2030

Report Overview

The global humanoid robot market reached USD million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 28.3% during the forecast period (2023-2030). A robot that has been built to mimic the human body in shape is called a humanoid robot.

The design may have experimental purposes such as studying bipedal movement, or it may have utilitarian goals like interfacing with human tools and settings. Humanoid robots are becoming more and more common in industries like healthcare, retail, and manufacturing. Their ability to do complex tasks and interact with humans is what makes these machines necessary.

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Market Drivers: The growing product launches

Due to an increase in product launches over the past few years, the market for humanoid robots has increased dramatically. Product launches might result in corporate alliances and cooperation that advance the market's expansion. For instance, to construct a more sophisticated humanoid robot, a company that specializes in software development may work with a company that specializes in hardware development.
As a result of the investments made by various businesses, the market has development potential for the foreseeable future. For instance, a robotics startup debuted the first general-purpose humanoid robot in the world on March 2, 2023.

Market Segmentation: The rising usage of hardware in making humanoid robot

The hardware component sector, which leads the worldwide market for humanoid robots, includes the physical pieces that enable a robot to move, interact with its environment, and carry out operations. The components include actuators, sensors, power systems, and other mechanical and electrical pieces.

Humanoid Robot Market Companies:

The major global players include SoftBank Robotics Group Corp, Kawada Robotics Corporation, Honda Motor Co., Ltd., Hanson Robotics Ltd., HYULIM Robot, PAL Robotics, Engineered Arts Limited, Sanbot Co, Trossen Robotics and Hajime Research Institute, Ltd.

By Component

• Hardware
• Software

By Motion

• Biped
• Wheel Drive

By Application

• Education & Entertainment
• Research & Space Exploration
• Personal Assistant & Caregiving
• Search & Rescue
• Public Relations
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Geographical Share: The large end-use industries in Asia-Pacific

The Asia-Pacific humanoid robot market has expanded dramatically in recent years. Humanoid robots are employed in a range of sectors in Asia-Pacific, including industry, education, and entertainment. For example, manufacturing enterprises in Thailand are adopting methods to product assembly in order to reduce labor costs and enhance overall efficiency.
Thailand is also experiencing the most recent industrial revolution, known as "4.0," which goes beyond mechanisation and robots. It comprises substantially using science and technology to enhance corporate operations, ranging from smart devices to machine learning.

Industry Developments:

On June 22, 2022, PAL Robotics announced the successful introduction of its most recent prototype in front of international investors in Abu Dhabi, United Arab Emirates. The new humanoid robot REEM, which stands 1.65 meters tall and has 22 degrees of freedom, is the fourth PAL Robotics prototype. The robot's upper body is made up of a motorized head, two motorized arms with a wide range of expressions and a touch-screen-equipped torso.

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