The global humanoid robot market size was USD 1.02 Billion in 2021 and is expected to register a revenue CAGR of 62.5% during the forecast period, according to the latest analysis by Emergen Research. Technological advancements in humanoid robots and increasing use of humanoid robots in the industrial sector are factors projected to support market revenue growth between 2021 and 2030. An industrial robot is capable of autonomous control, can be reprogrammed, and can work in three or more axes. They can be used for applications such as welding, painting, ironing, assembly, pick-and-place, palletizing, product inspection, and testing, among others.
Automobile and electronics industries are significantly impacted by robots, which are used in various industries such as agriculture, mining, transportation, space and maritime exploration, unmanned surveillance, health, and education. The biggest filers of robotics patents are in automotive and electronics industries. Patents are also held by academic institutions and public research organizations, which encourages strong industry-university partnerships and also promotes corporate specialization. In addition, companies are developing advanced algorithms that will allow robots to work in different fields that can be dangerous for people but require human competence to complete such as in mining where potentially dangerous gas is present, bomb disposal teams, spraying disinfectants, field during cleaning duties, and delivery of necessary items in war areas.
However, manufacturing advanced robots requires high start-up costs and research & development expenses, which is expected to hamper market revenue growth.
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The major manufacturers covered in this report:
SoftBank Robotics, Hanson Robotics Ltd., Hajime Research Institute, Ltd., Ubtech Robotics Corp., PAL Robotics, Keenon Robotics Co., Ltd., Boston Dynamics, Kindred, Inc., Samsung Electronics, Honda Motor Co., Ltd., Yaskawa America, Inc., and PSYGIG
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2019–2030)
- Power Source
- Control System/Controller
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- Application Outlook (Revenue, USD Billion; 2019–2030)
- Security and Surveillance
- Personal Assistance
- Search and Rescue
- Physical Therapy
- Space Exploration
- Teaching & Training
- End-use Outlook (Revenue, USD Billion; 2019–2030)
- Industrial & Commercial Sector
- Aerospace & Defense
- Research & Education
The global Humanoid Robot market consists of various significant regional segments. Under this section of the report, the product demand, output, and estimated revenue share of each region have been ascertained. The most prominent regions dictating the global market include:
- North America (U.S., Canada, Mexico)
- South America (Brazil, Argentina, Ecuador, Chile)
- Europe (U.K., Germany, France, Italy)
- Asia Pacific (China, Japan, India, Korea)
- Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
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- Further key findings from the report suggest:
- The teaching and training segment is expected to register a steady revenue CAGR due to rapid adoption of humanoid robots in the education sector. For instance, on 28 July 2022, the university of Hyderabad, India deployed robot Eagle, for teaching science and humanities. Eagle is fluent in 30 languages and can teach grade 5 to 11 students along with a human teacher and also in stand-alone mode.
- The aerospace and defense segment is expected to register a steady revenue CAGR over the forecast period. Various companies are developing humanoids or robonauts for space exploration. For example, Russia developed Fedor or Final Experimental Demonstration Object Research, a remote-controlled robot that went to the International Space Station (ISS) in 2019.
- The North America market accounted for largest revenue share in 2021 due to rising demand for humanoid robots in education and healthcare sectors for training and caregiving. Rising investments from government and market players for increasing application areas are driving revenue growth of the market.
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Humanoid Robot Market?
How will the Humanoid Robot Market change in the upcoming six years?
Which application and product will take a lion’s share of the Humanoid Robot Market?
What is the Humanoid Robot market drivers and restrictions?
What will be the CAGR and size of the Humanoid Robot Market throughout the forecast period?
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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