Press release
Humanoid Robot Market Report 2024 Growth Analysis, Scope And Forecast By 2033
Humanoid Robot Market Report
Humanoid Robot Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $19.69 billion In 2028 At A CAGR Of 51.9%.
The humanoid robot market size has grown exponentially in recent years. It will grow from $2.44 billion in 2023 to $3.7 billion in 2024 at a compound annual growth rate (CAGR) of 51.6%. The growth in the historic period can be attributed to increasing labor costs, rising interest in automation, demand for efficiency, growth in the manufacturing industry, globalization of supply chains.
The humanoid robot market size is expected to see exponential growth in the next few years. It will grow to $19.69 billion in 2028 at a compound annual growth rate (CAGR) of 51.9%. The growth in the forecast period can be attributed to expanding applications in healthcare, rising demand for personal assistance robots, evolving consumer preferences, increased funding in robotics research, demand for collaborative robots. Major trends in the forecast period include customization and personalization, focus on safety features, adoption of cloud robotics, emergence of socially intelligent robots, sustainability initiatives.
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Humanoid Robot Market Major Segments
The humanoid robot market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Motion Type: Biped, Wheel Drive
3) By Application: Education And Entertainment, Research And Space Exploration, Personal Assistance And Caregiving, Search And Rescue, Public Relations, Other Applications
Key Driver - Growing Demand For Humanoid Robots In The Medical Sector Drives Growth In The Humanoid Robot Market
Rising demand for humanoid robots in the medical sector is driving the humanoid robot market. The medical sector refers to a broad range of organizations and professionals involved in providing medical services, treatments, and products to promote and maintain human health. Humanoid robots are being increasingly used in the medical industry, owing to the benefits offered by humanoid robots such as efficiency, personal care management, and increased accuracy of diagnosis. For instance, in October 2022, according to the International Federation of Robotics (IFR), a Germany-based non-profit organization promoting the robotics industry worldwide, the medical sector employed 14,800 service robots in 2021, an increase of 23% as compared to 2020. As a result, the rising demand for humanoid robots in the medical sector is driving the humanoid robot market going forward.
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Prominent Trend - Introduction Of Cutting Edge Technology For Enhanced Interaction And Motion
Technological improvements are a key trend gaining popularity in the humanoid robot market. Major companies in the humanoid robot market are focused on developing technologically advanced robots to sustain their position in the market. For instance, in August 2022, Xiaomi, a China-based technology company, introduced the CyberOne humanoid robot. The new bipedal robot has technologically advanced features, such as an AI-based full-sized humanoid frame that generates peak torque of 300 nm and supports 21 degrees of freedom in motion. It leverages Mi-Sense depth vision technology to visually process the individual gestures, expressions, and reactions of the person in front of it.
Humanoid Robot Market Players
Major companies operating in the humanoid robot market report are Toyota Motor Corporation, Samsung Electronics Co. Ltd., Honda Motor Co. Ltd., SoftBank Corp., Toshiba Corporation, KUKA Robotics Corp, Instituto Italiano Di Technologia, Ubtech Robotics Corp. Ltd., HYULIM Robot Co. Ltd., ZMP Inc., Cyberdyne Inc., Agility Robotics Inc, WowWee Group Limited, Apptronik Inc., Pal Robotics S.L., Shadow Robot Company Ltd., F&P Robotics AG, Engineered Arts Limited, Beyond Imagination Inc, Macco Tecnologia Para el Ocio Sociedad Limitada, Trossen Robotics LLC, Hanson Robotics Limited, Furhat Robotics AB, Universal Robots Inc., Robo Garage.Co.Ltd., KAWADA Robotics Corporation, Figure AI, 1X Technologies AS, Intuitive Robots, Qihan Technology Co. Ltd.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the humanoid robot market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the humanoid robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Humanoid Robot Market Report Structure
3. Humanoid Robot Market Trends And Strategies
4. Humanoid Robot Market - Macro Economic Scenario
5. Humanoid Robot Market Size And Growth
…..
27. Humanoid Robot Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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