Humanoid Robot Market Top Players - SoftBank Robotics, ROBOTIS, Agility Robotics, UBTECH Robotics, Pal Robotics.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Humanoid Robot Market - (By Component (Hardware (Sensors (Gyroscopes, Microphones, Accelerometers, Tilt sensors, Force/Torque sensors, Position sensors, Vision/Image sensors, Others), Actuators (Electrical, Pneumatic, Hydraulic, Piezoelectric, Ultrasonic), Power Sources, Control Systems/Controllers, Others), Software), By Motion Type (Biped, Wheel drive), By Application (Research and Space Exploration, Education and Entertainment, Personal Assistance and Caregiving, Search and Rescue, Public Relations (Retail, Hospitality), Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Humanoid Robot Market is valued at US$ 1.53 Bn in 2023, and it is expected to reach US$ 24.4 Bn by 2031, with a CAGR of 41.5% during the forecast period of 2024-2031.

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A humanoid robot simulates the shape of an actual person and is made for many different kinds of applications. Numerous scientific fields use these goods. In order to create humanoid robots, scientists are researching the human body's composition and activity. It is equipped with technology that makes self-education and maintaining themselves simpler. Humanoid robots will become popular as a result of widespread adoption in the cultural activities, motoring technological and educational sectors. Furthermore, the development of advanced technologies like machine learning, mechanical monitoring, and optical perception will enable humanoid robots to acquire knowledge of themselves, which will expand the market for these robotics. The humanoid robot business is going to keep expanding as a result of the growing adoption of these robots in commerce, the aerospace industry, and transport industries. The usage of robots as helpers in space missions and medical procedures is reportedly going to enhance business. Additionally, the quickly evolving conditions in the manufacturing and industrial industries will fuel the growth of the market of humanoid robot in the years ahead.

List of Prominent Players in the Humanoid Robot Market:
• SoftBank Robotics
• ROBOTIS
• Agility Robotics
• UBTECH Robotics
• Pal Robotics
• Toyota Motor Corporation
• Kawada Robotics Corporation
• Honda Motor Co, Ltd.
• Hanson Robotics Ltd
• Hyulim Robot
• Samsung
• Boston Dynamics
• Engineered Arts Ltd
• Sanctuary Cognitive Systems Corporation
• NASA
• APPTRONIK
• Macco Tecnología para el ocio, S.L.
• Tesla
• Promobot
• Invento Research Inc.
• Beyond Imagination
• Figure
• NVIDIA Corporation
• Other Market Players

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Market Dynamics:
Drivers-
The growing demand for humanoid robots is fueled by the growing need for these machines in the healthcare sector. A wide range of businesses and experts engaged in offering healthcare services, therapies, and goods to support and preserve human health are referred to as the healthcare sector. The medical field is using humanoid robots more and more because of their advantages, which include better diagnostic accuracy, performance, and private care administration. Consequently, the growing need for humanoid robots in the healthcare industry is propelling the market for these devices.

Challenges:
One of the biggest challenges has been the expensive nature of the humanoid robot market. Based on the robotics' level of development, a humanoid robot can be highly expensive. The development of humanoid robots is being hampered by the equipment's excessive use of electricity. Furthermore, the humanoid robots use greater amounts of electricity than the others since they have more detectors and parts, which limits their ability to develop. The manufacturing of humanoid robots has been halted due to COVID-19. The infection has had a significant impact on several global economies as it progresses. A lack of workers and supply interruptions have prompted enterprises to shut down for an extended period. The outcome has been a significant slowdown in market expansion.

Regional Trends:
The North American humanoid robot market is anticipated to register a major revenue share. It is projected to grow at a high CAGR in the near future because of the development of humanoid robots and upgraded facilities. The need for robots with humanoids to provide care and instruct in North America's health services and instructional industries is growing. Furthermore, the market's earnings are also being driven by higher governmental and major player investments in emerging industries. Besides, Asia Pacific had a significant market share because of the nations' usage of humanoid robots in the security, administration, retail sector, and industrial sectors. In addition to this, growing labour costs and a shortage of workers for essential positions in the manufacturing, construction, and entertainment sectors will promote regional market expansion.

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Recent Developments:
• In April 2024, Sanctuary Cognitive Systems Corporation and Magna International, a mobility technology company, established a partnership to enhance the development of humanoid robots for car manufacturing. This collaboration entails a comprehensive evaluation focused on improving the cost-effectiveness and scalability of humanoid robots using Magna's automotive product offerings, engineering expertise, and production proficiencies.
• In September 2023, Toyota Motor Corporation's subsidiary, Toyota Research Institute (TRI), has introduced a generative AI methodology that employs Diffusion Policy to rapidly instruct robots in acquiring new, dexterous abilities. This milestone, accomplished without the introduction of new code, improves robot functionality, representing a substantial advancement towards the development of "Large Behavior Models (LBMs)" for robots. TRI intends to impart hundreds of new abilities by the end of this year and an amazing 1,000 by the conclusion of 2024, utilizing these transformational technologies.

Segmentation of Humanoid Robot Market-
By Component-
• Hardware
o Sensors
 Gyroscopes
 Microphones
 Accelerometers
 Tilt sensors
 Force/Torque sensors
 Position sensors
 Vision/Image sensors
 Others
o Actuators
 Electrical
 Pneumatic
 Hydraulic
 Piezoelectric
 Ultrasonic
o Power Sources
o Control Systems/Controllers
o Others
• Software
By Motion Type-
• Biped
• Wheel drive
By Application-
• Research and Space Exploration
• Education and Entertainment
• Personal Assistance and Caregiving
• Search and Rescue
• Public Relations
o Retail
o Hospitality
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.