WorldWide Humanoid Robot Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Humanoid Robot Market

Industry / Sector Trends

Humanoid Robot Market size valued at USD 450 million in 2016 and will grow at a CAGR of over 35% from 2017 to 2024. The global shipments are expected to reach 1 million units by 2024.
 

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Market Segmentation, Outlook & Regional Insights: Humanoid Robot Market

 Humanoid Robot Market, By Product, 2016 (USD Million)

 

The increasing popularity of companion robotic technology in research, healthcare, and hospitality sectors to gain enhanced assistance & operational efficiency is driving the humanoid robot market. These products are finding applications in the healthcare sector as medical assistants & training aids, further adding up to the demand. The rapid development & transformation of the medical infrastructure by implementing robotic & digitally advanced products for enhanced patient care & engagement supports robot deployment. Additionally, changing dynamics in industrial & manufacturing sectors, which include robotic additions to aid employees & workers is adding up to the industry expansion. These products are utilized to perform engineering tasks in various industries to eliminate human involvement in dangerous tasks and allow them to focus on high-value operations.
 

The human-like robots face technical and power-related issues, limiting their performance and active time. The low battery life limits prolonged operations in these machines, creating assistance issues in several industries. Due to a limited battery life, these products cannot be utilized in long-term operations and create human dependability concerns. Extended batteries and the use of long lifetime components in manufacturing these products can eliminate quick discharging issues and increase operational efficiency.
 

 By Product

Biped products are expected to grow at a CAGR of over 30% from 2017 to 2024. Biped models are gaining high popularity as they support human operations and assist them in various tasks such as floor cleaning, automated lawnmowing, etc. These machines have several beneficial features, such as self-maintenance, autonomous learning, security, etc., that provide efficient assistance to human tasks. Humanoid robots are gaining traction across all industry verticals due to the steady decline in prices owing to reduced sensor & actuator costs. However, over the forecast years, the increasing popularity of robotic devices and the need for automated machines will create several opportunities for humanoid robot market demand. Companies are launching new products for various applications that include human assistance capabilities. For instance, in May 2019, Ford announced its plan to develop its robot ‘Digit’ in cooperation with Agility Robotics, which will be used for delivery purposes.
 

By Application

China Humanoid Robots Market, By Application, 2016 

 

The growing focus on the enhancement of the retail industry globally with the implementation of smart technologies and automated & robotic products will add up to the robot demand. Retailers are incorporating high-end technologies to provide enhanced consumer engagement and store knowledge. The human-like robot systems deployed in retail stores, supermarkets, and shopping malls reduce unnecessary employee costs, increase customer interactions, and offer digital proposals. They have several benefits over human employees, such as continuous operability, repetitive tasks, etc., and allow staff to work on higher-value tasks. Manufacturers are developing highly efficient systems for retail-specific applications to offer smarter aid to consumers and better management of the store infrastructure. For instance, in July 2019, CloudMinds, a robotics start-up funded by SoftBank Group announced its preparation for USD 500 million IPO to develop a cloud-based robotic system for products including Pepper.
 

The humanoid robot market growth is attributed to increasing requirements and rapid expansion in the retail & healthcare sector across the globe. These machines perform several tasks in retail outlets and multi-stores such as inventory management, operation extensions, and detecting shelf mistakes. For instance, Nestle announced the development of a humanoid robot, Pepper, along with SoftBank Robotics, which is used in several departmental stores of Nestle in Japan. In the healthcare sector, these machines are used as personal care & assistance robots that provide timely medication and entertainment to patients. They also offer elderly care services and eliminate the need for human caretakers due to high efficiency & automated learning capabilities.
 

 By Region

North America Humanoid Robot Industry, By Country, 2016 

 

The North America humanoid robot market is expected to grow at over 37.5% CAGR from 2017 to 2024. The industry is developing at a rapid pace due to the incorporation of automated machines & devices in various industry verticals including government, retail, military & defense, etc. High labor costs and the unavailability of workers to perform basic tasks in retail, construction, and hospitality sectors are creating a high demand for these products. Additionally, the increasing government spending on improvising defense & military and public infrastructure facilities to enhance the segment productivity and serve the citizens better is creating industry growth. High consumer knowledge and awareness related to technological advancements in North America promote the utilization of these products in application industries.
 

Key Players, Recent Developments & Sector Viewpoints: Humanoid Robot Market


The prominent players operating in the industry include Softbank Robotics, Hajime Research Institute, Qihan Technologies, DST Robot, Robotis, Toshiba, Ubtech Robotics Inc., Honda, and Hanson Robotics. The industry players are making significant investments in the research & development of new technologies and sophisticated solutions followed by the increasing demand from governments globally. The companies are launching new robots with enhanced software & hardware capabilities to cater to industry-specific applications and reduce the workload in humans. For instance, in 2017, Dubai police launched Robocop, aimed at assisting individuals in streets and malls, protect the city as well as fight crime.
 

Industry Viewpoint
 

The humanoid robots industry is currently witnessing intense competition among the players. It is characterized by continuous innovations and technical enhancements. With the rising number of new entrants in the market, competition is expected to increase over the years, contributing to a reduction in R&D and manufacturing expenses of humanoid robots. Due to the technically innovative portfolio with new players, they can surpass the competition and gain a higher share than the existing industry leaders. Additionally, with the development of online & e-commerce sales channels, manufacturers are enhancing their product distribution network.

Key Insights Covered: Exhaustive Humanoid Robot Market
1.  Market size (sales, revenue and growth rate) of Humanoid Robot industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Humanoid Robot industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Humanoid Robot industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Humanoid Robot industry.

Research Methodology: Humanoid Robot Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.