Humanoid Robots Take Center Stage: Market Growth Driven by Technological Advances

 The humanoid robot market size is valued at USD 1.8 billion in 2023 and is anticipated to be USD 13.8 billion by 2028; growing at a CAGR of 50.2% from 2023 to 2028. The key factors contributing to the growth of the humanoid robot market include the increasing use of humanoids as educational robots and the surging demand for humanoid robots from the retail and household as personal assistance.

Key Applications: Where Humanoid Robots Are Making an Impact

Humanoid robots are finding their place in a variety of sectors, each benefiting from their unique capabilities:

• Healthcare: In hospitals and care facilities, humanoid robots are assisting with patient care, performing tasks such as delivering medications, providing companionship, and aiding in rehabilitation exercises. Their ability to interact with patients in a friendly, human-like manner enhances the overall care experience.
• Customer Service: Retailers and service providers are deploying humanoid robots as customer service representatives, information guides, and even receptionists. These robots can answer questions, provide information, and engage customers in a way that improves service efficiency and customer satisfaction.
• Manufacturing and Automation: Humanoid robots are also making their mark in manufacturing, where they can work alongside humans in assembly lines, perform quality control tasks, and even handle hazardous materials. Their flexibility and adaptability contribute to enhanced productivity and safety in industrial environments.
• Entertainment and Education: In the entertainment sector, humanoid robots are being used in theme parks, exhibitions, and interactive shows to engage and entertain audiences. They are also used in educational settings to teach robotics and programming in a hands-on, engaging manner.

Download PDF Brochure @

 https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99567653

 

Market Trends: What’s Driving Growth?

• Increasing Investment: Both private and public sectors are investing heavily in robotics research and development. This investment is driving innovation, reducing costs, and accelerating the commercialization of humanoid robots.
• Aging Population: As the global population ages, there is a growing demand for robotic solutions that can assist with elderly care and support. Humanoid robots offer a promising solution to address the challenges associated with an aging demographic.
• Technological Convergence: The integration of AI, IoT, and robotics is creating new opportunities for humanoid robots. These technologies enable robots to interact with their environment and make intelligent decisions, expanding their potential applications.

The Asia Pacific region is expected to grow at the fastest CAGR in the humanoid robot market during the forecast period. The increasing aging population in countries such as China and Japan will likely increase the deployment of humanoids for caregiving and personal assistance in the coming years in the Asia Pacific. Large and established humanoid robot manufacturing companies that have made significant investments in R&D to gain a competitive edge also support the regional market’s growth. SoftBank Robotics (Japan), ROBOTIS INC (South Korea), KAWADA ROBOTICS CORPORATION (Japan), Honda Motor Co., Ltd. (Japan), and UBTECH Robotics Corp. Ltd. (China) are the major players in this market.

SoftBank Robotics (Japan), Honda Motor Co., Ltd. (Japan), Toyota Motor Corporation (Japan), ROBOTIS (South Korea), KAWADA ROBOTICS CORPORATION (Japan), UBTECH Robotics Corp. Ltd. (China), HANSON ROBOTICS LTD. (Hong Kong), PAL Robotics (Spain), HYULIM Robot Co., Ltd (South Korea), Hajime Research Institute, Ltd. (Japan), Engineered Arts Limited (UK), National Aeronautics and Space Administration (NASA) (US), ROBO GARAGE Co., Ltd. (Japan), Istituto Italiano di Tecnologia (IIT) (Italy), Robotics Lab (Spain), Samsung Electronics Co., Ltd. (South Korea), Promobot Corp.( US), EZ-Robot (Canada), Macco Robotics (Spain), Boston Dynamics (US), Advanced Telecommunications Research Institute International (ATR) (Japan), Wowwee Group limited (Hong Kong), Kindred, Inc. (US), Tesla (US), and Agility Robotics (US) are the major players in humanoid robot market. These players have implemented various strategies to extend their global reach and enhance their market share.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441