Humanoid Robot Market by Component, Motion Type (Biped & Wheel Drive) Global Forecast to 2023

[133 Pages Report] The humanoid robot market is expected to grow from USD 202.2 Million in 2016 to USD 3,962.5 Million by 2023, at a CAGR of 52.1% between 2017 and 2023. The humanoid robot market is mainly driven by factors such as the introduction of advanced features in humanoid robots, the increasing use of humanoids as educational robots, and growing demand from the retail industry for personal assistance. For this study, the base year considered is 2016, and the forecast period is between 2017 and 2023.

The prime objectives of this report can be summarized as follows:

• To define, describe, segment, and forecast the global humanoid robot market, in terms of value, on the basis of component, motion type, application, and geography
• To define, describe, segment, and forecast the humanoid robot market, in terms of volume, on the basis of motion type, application, and geography
• To forecast the market size, in terms of value, for the application segment with regard to 4 main regions Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To strategically analyze the micromarkets with regard to the individual growth trends, prospects, and contributions to the humanoid robot market
• To provide detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the humanoid robot market
• To analyze opportunities in the market for stakeholders and the details of the competitive landscape for leaders in the market

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The sizing of the humanoid robot market has been done using top-down and bottom-up approaches. The bottom-up approach has been employed to arrive at the overall size of the humanoid robot market from the revenues of key players (companies) and their shares in the market. Calculations are made on the basis of the number of humanoid robots used in each type of application. Finally, the volume is multiplied by the average selling price of each humanoid robot to arrive at the overall market size. In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits from secondary research (including the study of associations, databases, and journals). Major secondary sources include the International Federation of Robotics (IFR), the International Journal of Robotics Research, the Robotic Industries Association, and the Association for Advancing Automation. For the calculation of specific market segments, the most appropriate parent market size has been used to implement the top-down approach.

In the process of determining and verifying the market size for several segments and subsegments obtained through secondary research, extensive primary interviews have been conducted with key opinion leaders. 

The key players in the market are SoftBank (Japan), ROBOTIS (South Korea), KAWADA ROBOTICS (Japan), Honda Motor (Japan), UBTECH ROBOTICS (China), Hajime Research Institute (Japan), Hanson Robotics (Hong Kong), DST Robot Co. (South Korea), PAL Robotics (Spain), Toyota Motor (Japan), ROBO GARAGE Co. (Japan), Istituto Italiano di Tecnologia (Italy), Engineered Arts (UK), Robotics Lab (Spain), and National Aeronautics and Space Administration (NASA, US).