Humanoid Robot Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Humanoid Robot Market is segmented By Component (Hardware, Software), By Motion (Biped, Wheel Drive), By Application (Education & Entertainment, Research & Space Exploration, Personal Assistant & Caregiving, Search & Rescue, Public Relations, Others), By Region (North America, Europe, South America, Asia-Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Humanoid Robot Market Overview

The global humanoid robot market reached USD million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 28.3% during the forecast period (2024-2031). A robot that has been built to mimic the human body in shape is called a humanoid robot.

The design could have functional objectives like interacting with human tools and environments, experimental aims like the research of bipedal mobility or other goals. The growing usage of humanoid robots in fields including healthcare, retail and manufacturing, as well as their capacity to carry out difficult jobs and communicate with people, are factors driving the need for these machines.

Humanoid Robot Market Summary

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Humanoid Robot Market Dynamics

The growing product launch

Due to an increase in product launches over the past few years, the market for humanoid robots has increased dramatically. Product launches might result in corporate alliances and cooperation that advance the market's expansion. For instance, to construct a more sophisticated humanoid robot, a company that specializes in software development may work with a company that specializes in hardware development.

As a result of the investments made by various businesses, the market has development potential for the foreseeable future. For instance, a robotics startup debuted the first general-purpose humanoid robot in the world on March 2, 2023. ​

Increasing adoption in healthcare

The global market for humanoid robots is expanding as a result of the growing use of these machines in healthcare. There are several ways that humanoid robots are used to provide medical care. As an example, hospitals use the SoftBank Robotics-developed Pepper robot to inform patients and visitors. It can communicate with people using natural language and expressions on their faces and can provide details about medical services and patient care.

Humanoid Robot Market Segment Analysis

The global humanoid robot market is segmented based on component, motion, application and region.

The rising usage of hardware in making humanoid robot

The physical parts that allow a robot to move, interact with its surroundings and carry out activities are included in the hardware component sector, which dominates the global market for humanoid robots. Actuators, sensors, power systems and other mechanical and electrical parts are included in the components.

As robotic applications migrate from the controlled surroundings of factory floors to the less controlled natural environments shared with people and other agents, more computation is needed to tackle the accompanying perceptual, planning and control issues. Hence, higher computational load enhances the demands for computer hardware in robotics, offering growth opportunities for the market sector.

Source: DataM Intelligence Analysis (2023)

Humanoid Robot Market Geographical Share

The large end-use industries in Asia-Pacific

In recent years, Asia-Pacific humanoid robot market has grown significantly. Humanoid robots are used throughout Asia-Pacific in a variety of industries, including industry, education and entertainment. For instance, manufacturing firms are adapting processes in Thailand to product assembly in order to cut labour costs and improve overall efficiency. Also, Thailand is going through the most recent industrial revolution, dubbed as "4.0," which goes beyond mechanisation and robotics. It entails utilising science and technology extensively to improve business processes, from smart gadgets to machine learning.

Source: DataM Intelligence Analysis (2023)

Humanoid Robot Companies

The major global players include SoftBank Robotics Group Corp, Kawada Robotics Corporation, Honda Motor Co., Ltd., Hanson Robotics Ltd., HYULIM Robot, PAL Robotics, Engineered Arts Limited, Sanbot Co, Trossen Robotics and Hajime Research Institute, Ltd.

Key Developments

• On June 22, 2022, PAL Robotics announced the successful introduction of its most recent prototype in front of international investors in Abu Dhabi, United Arab Emirates. The new humanoid robot REEM, which stands 1.65 meters tall and has 22 degrees of freedom, is the fourth PAL Robotics prototype. The robot's upper body is made up of a motorized head, two motorized arms with a wide range of expression and a touch-screen-equipped torso. 
• The final experimental demonstration object research, also known as the Russian humanoid Fedor, was a remote-controlled spacecraft that visited the International Space Station (ISS) in 2019 to perform a dummy spacewalk and dummy repairs. Then it took off again for Earth.
• On September 17, 2019, the cutting-edge, AI-enabled vacuum-cleaning robot "Whiz" was made available to commercial clients in Hong Kong and Macau for trial and subscription purposes, expanding the smart device's market outside of its home country. SBRG is a leader in robotics innovation. Whiz is designed to improve productivity and simplify procedures in the cleaning industry. The best outcomes come from carpets and hard flooring.

The global humanoid robot market report would provide approximately 61 tables, 58 figures and 204 pages.