Humanoid Robot Market: Global Industry Analysis and Forecast 2023-2029

Humanoid Robot Market was valued at USD 1.36 Billion in 2022, and it is expected to reach USD 10.35 Billion by 2029, exhibiting a CAGR of 33.6 % during the forecast period (2022-2029)
Humanoid Robot Market Overview:
Robotics is undergoing a major transformation in scope and dimension. A humanoid robot is a robot that has a human-like shape. Currently, the humanoids are one of the smallest groups of service robots. They have the potential to become the industrial tool during the forecast period. The robotic industry is expected to witness an increase in humanoid robots, it will also affect the service industry. Looking forward at industry insights, the robots in the service industry are mostly led by floor cleaning robots, unmanned aerial vehicles (UAVs) and lawnmowers. It is also preferred for applications like humanoid robots, assistant robots and companion robots, telepresence robots, human exoskeletons, surgical robots, and autonomous mobile robots.To know about the Research Methodology :- Request Free Sample Report

The robotics of tomorrow is a thrilling prospect as companies like Softbank Robotics and others have created human-like robots to be used as medical assistants. Currently, humanoid robots are outstripping in the medical industry, predominantly companion robots. Key players operating in the market are leveraging humanoid robots to fill engineering tasks. For instance, Joint Robotics Laboratory and Airbus Group has conducted joint research project to make usage of humanoid robotic technology in aircraft manufacturing facilities. Airbus looks to free up human operators of some of the most arduous and perilous tasks by utilizing humanoid robots on aircraft assembly lines. Tesla CEO, Elon Musk unveiled two prototypes of the Tesla robot. It has presented the latest prototype of a humanoid robot and announced Tesla’s plan for humanoid robots to have its robot prototype working, with a plan to start production possibly in 2023.
Humanoid Robot Market Dynamics
US, UK, Canada, and Japan are leading the adoption of humanoid robots. In addition, four major industries like computer and electronic products, the electrical equipment and appliances industry, transportation equipment, and machinery will be seen taking charge of the advancements. The Humanoid Robot industry is continually transforming and evolving rapidly.

The industry can focus their efforts on three primary areas to advance the technology: cost reduction, accelerating the realization of benefits, and increasing the benefits of humanoid robot in healthcare industry. Humanoid robots typically possess physical appearance similar to that of a human, including two arms, two legs, and ahead. Emerging innovation in the digitization across various sectors followed by the rising adoption of less cost equipment’s in various business operations drives the demand for humanoid robots through the forecast period. Implementation of humanoid robots in the medical industry enhance the operational efficiency, perform multiple tasks and provide effective productivity and thus, drive the market through the forecast period.

Humanoid robots are used in the inspection, maintenance and disaster response at power plants. It helps to relieve human workers of laborious and dangerous tasks. Similarly, they’re prepared to take over routine tasks for astronauts in aerospace travel. It is used in others diverse applications like companionship for the elderly and sick, act as a guide and interact with customers in the role of receptionist. The global humanoid robots market growth is driven by rapid innovation in technology for the creation of more effective and affordable robot models. Additionally, it is projected that, a growing number of humanoid robots used in military and defence applications to give battlefield intelligence, or data on enemy movements and need for humanoid robots are expected to boost the production of the Humanoid Robot during the forecast period (2022-2029).

An increase in demand from the education and entertainment field is expected to drive the growth of humanoid robots market over the forecast period. The popularity of such robots providing human interaction is on the rise among students of various age-groups further contributing to the market growth. On behalf of inefficient traditional promotion activities and methods used by brick-and-mortar stores, humanoid robots have the potential to effectively deliver promotions and offer a more customized experience to customers.

Furthermore, the capability of the robots to identify customers and provide recommendations based on the purchase history contributes to the industry demand. Many researchers have been putting lots of efforts consistently to make the robots which can resemble the human beings physically and psychologically. They made humanoid robots to walk like a human with the usages of inducted vision sensors and touch sensitivity. The key challenges in the field of humanoid robotics industry were expression and identification of emotions, artificial intelligence, and the silicone skin.

The Evolving Road to Adoption: Humanoid Robot

In the age of innovation and technology, more and more companies are making extremely human-looking robots, which will work closely with actual humans in the hospitality or customer service sectors. Despite many humanoid robots are still in the prototype phase, a few robots have runaway research and development and entering the real world as bartenders, concierges, deep-sea divers and as companions for older adults. An advancement in humanoid robots with greater AI capabilities and human-like features, which can take on more duties in the service industry, education and healthcare are expected to drive the demand for humanoid robot in the near future.

Humanoid robot plays a crucial role as horizontal technology for many industries. It offers innovative approaches to onsite repair, reconstruction of hard-to-find or obsolete parts, reducing material costs and waste, and enhanced speed-to-market through streamlined production. An increase in demand for commercial and military aircraft along with a substantial defense spending has contributed to the growth of the aerospace and defense industry in North America. The region is actively engaged in conducting extensive R&D of emerging technologies for deployment of the robot in the aerospace sector, which is expected to drive the demand for Humanoid robot. Many manufacturers are investing in latest technologies.
Humanoid Robot Market Segment Analysis
The software segment is expected to grow at a higher 8.45% rate of CAGR during the forecast period. As the technological advancement that led to the growing complexity in terms of features such as AI and autonomous operations, the value of the software part in the robot will grow faster than hardware as the software will assist the complex functionalities to process efficiently and accurately.



The biped motion type held a larger share of the global humanoid robot market in 2022. The actual human-like appearance can be realized in humanoids only when the robot is capable of walking on feet like humans. A majority of the humanoid robot manufacturers are focusing on their designs to make biped robots. Biped product types are gaining popularity because of its high usage in the construction, production and other industries. On the other hand, Wheel drive humanoid robot is expected to grow at a CAGR of 5.66% and expected to reach value US $4,347.6 Mn by 2029. The demand for wheel type robots in the military & defense applications are expected to increase at rapid rate because of its designation and program capability to navigate surrounding area. The wheel drive humanoid robots are also used as entertainment robots at amusement parks, science events and theme parks that are expected to drive its demand during the forecast period.
Humanoid Robot Market Regional Insights
North America region held the dominant position in 2022. The presence of prominent key players who are focusing on research and development activities regarding the robotics applications with most of the industry verticals are expected to drive the market growth in the North America region.

Humanoid Robot Market in Europe:

In Europe, Research and Industry have tried to address the prerequisite for flexible production by introducing technologies, which allow humans and robots to coexist and share production tasks. The latest trends of European Research foster the integration of new forms of interaction between robots and workers. It is aiming to make the most out of the synergy effect, which means to efficiently combine and exploit the robot’s precision, repeatability and strength with the human’s intelligence and flexibility. Europe has a strong democratic setup and effective rule of law, which are considered transparent. Europe must rely on its innovation potential to be competitive on the international humanoid robot market. Continued development in the robotics technology has achieved greater automation and improved efficiency. The COVID‐19 pandemic has plunged the European economy into its deepest recession.

Automation in the worlds of production is continuously advancing. The role of the robot in production shops have undergone a grate change. Previously, isolated robots were used to automate individual operations, the current trend is towards intelligence assistance, which can be fully integrated into production operations. In Europe, Humanoid Robot has achieved increased popularity in current years because of the flexibility and enhanced performance. It is becoming a clear trend among major automobile makers to transform from hard to flexible automation. Advancements in software, add-on technology services are a few factors, which will play a crucial role in the growth of the market. An innovation of new programming tools offers operators to program and maintain robot systems. With an introduction of the laser, key players operating in the market are focusing to offer a powerful tool for end user industry applications.

Rapid Transformation in Next Generation Manufacturing: Drive the Asia Pacific Market

Emerging technologies like Internet of Things, big data, artificial intelligence have already transformed major segments of the economy of developing economies. Next generation manufacturing has shifted the significances to sustainability, speed-to-market, and supply chain resiliency. Asia Pacific humanoid robot market growth is attributed directly to progressive industries that recognize the disruptive potential of the technology. The governments across the developing economies are also keeping a close eye on robotics solution, as they start to integrate innovative technologies into their industrial strategies. High investment from businesses and interest from policymakers have created the conditions for additive manufacturing ecosystems in India.

Humanoid Robot in India:

Humanoids robots have been gaining popularity in India. Despite the country is still catching up with the developments in artificial intelligence and robotics, Indian start-ups, and the government are working at a rapid pace to integrate new-age technologies. Manav is India’s first 3D-printed humanoid robot. It performs activities like push-ups, headstands and can also play football.

The first indigenously built humanoid robot is Mitra, which is capable of interacting with humans smartly. Mitra was also showcased at an annual technology conference Slush 17 in Finland. The robot has caught the attention of the audience and also received opportunities for partnership with a European firm. the robot is as handy in the service sector as it is as a host. The start-up customises the humanoids accordingly depending on the requirement. India’s robotics industry is still small with compared to other developing economies like South Korea, Japan, and China. India already has many of the basic elements to become a major player in robotics industry, which includes established business, academic research, government support and an increasingly entrepreneurial business community.
Report Scope:
The objective of the report is to present a comprehensive analysis of the global Humanoid Robot Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. The reports also help in understanding the Humanoid Robot Market dynamic, structure by analyzing the market segments and projecting the Humanoid Robot Market size. Clear representation of competitive analysis of key players by segment type and regional presence in the Humanoid Robot Market make the report investor’s guide.
Humanoid Robot Market Scope: Inquire before buying



Humanoid Robot Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.36 Bn.


Forecast Period 2023 to 2029 CAGR:
33.6%
Market Size in 2029:
US $ 10.35 Bn.


 Segments Covered:
by Component
1. Hardware
2. Software


by Motion Type
1. Biped
2. Wheel Drive


by Application
1. Education and Entertainment
2. Research & Space Exploration
3. Personal Assistance and Caregiving
4. Search and Rescue
5. Public Relations
6. Others


by End-use
1. Industrial & Commercial Sector
2. Aerospace & Defense
3. Healthcare
4. Education
5. Others



Humanoid Robot Market, Key Players are:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Humanoid Robot Market, Key Players are:
1. Ubtech Robotics (US)
2. Willow Garage (US)
3. Engineered Arts (UK)
4. Instituto Italiano Di Technologia (Italy)
5. Pal Robotics (Spain)
6. Qihan Technology Co.(China)
7. Sanbot Co. (China)
8. WowWee Group (Hong Kong)
9. Hanson Robotics (Hong Kong)
10. Samsung Electronics (South Korea)
11. DST Robot Co. Ltd. (South Korea)
12. ROBOTIS (Republic of Korea)
13. Kawada Robotics Japan)
14. Toshiba (Japan)
15. Robo Garage Co. (Japan)
16. Hajime Research Institute, Ltd.(Japan)
17. Honda Motor Co. Ltd. (Japan)
18. Toyota Motor Corporation (Japan)
19. SoftBank Corporation (Japan)

Frequently Asked Questions:

1] What segments are covered in the Global Humanoid Robot Market report?
Ans. The segments covered in the Humanoid Robot Market report are based on Component, Application, and Motion Type.

2] Which region is expected to hold the highest share in the Global Humanoid Robot Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Humanoid Robot Market.

3] What is the market size of the Global Humanoid Robot Market by 2029?
Ans. The market size of the Humanoid Robot Market by 2029 is expected to reach USD 10.35 Bn.

4] What is the forecast period for the Global Humanoid Robot Market?
Ans. The forecast period for the Humanoid Robot Market is 2023-2029.

5] What was the market size of the Global Humanoid Robot Market in 2022?
Ans. The market size of the Humanoid Robot Market in 2022 was valued at USD 1.36 Bn.