Humanoid Robot Market by Motion Type (Biped, Wheel Drive), Component (Hardware, Software), Type, Application - Global Forecast 2024-2030

Humanoid Robot Market by Motion Type (Biped, Wheel Drive), Component (Hardware, Software), Type, Application - Global Forecast 2024-2030

The Humanoid Robot Market size was estimated at USD 2.38 billion in 2023 and expected to reach USD 3.06 billion in 2024, at a CAGR 29.77% to reach USD 14.76 billion by 2030.

The humanoid robots are designed with a head, two arms, and two legs, and they often mimic human movements and actions. Application areas for humanoid robots include service robotics, where they perform tasks such as customer service, caregiving, and companionship, and industrial uses, where they carry out complex tasks requiring dexterity and human-like interaction. Increasing investments in research and development from both public and private sectors also propel market growth. Additionally, the growing demand for automation in services and the industrial sector serves as a significant catalyst for the growth of the humanoid robot market. Furthermore, the aging population and the subsequent need for assistance in care homes boost the demand for humanoid robots. Complexities in design and the requirement for constant software updates hamper the growth of the humanoid robot market. The growing technological advancements in artificial intelligence and machine learning that improve humanoid robots' functionality and adaptability are expected to create opportunities for market growth.

Regional Insights

In the American market, humanoid robots have been increasingly used in sectors including retail, healthcare, and education for functions ranging from customer service to therapeutic assistance. The Americas is known for its strong investments in research and development, and this is reflected in its volume of patents, where tech giants and startups alike are advancing the capabilities of humanoid robotics. Europe exhibits a diverse market with a strong focus on ethical, privacy, and safety standards in the development and application of humanoid robots. Initiatives, including SPARC and the Partnership for Robotics in Europe, show the region's commitment to fostering innovation in robotics. The European consumer base is sophisticated, with varied preferences across member countries, and tends to show a preference for humanoid robots that comply with strict standards and offer sustainable solutions. The Middle East and Africa have seen significant growth in their robotics industry, driven by investments in innovation, particularly in the Gulf states. Asia-Pacific's market for humanoid robots is rapidly expanding, supported by governmental initiatives and heavy investment. With initiatives including Made in China 2025, the nation aims to become a hub for robotics innovation. Chinese consumers are increasingly comfortable with robotic technologies, and there is a substantial market for both industrial and domestic humanoid robots.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Humanoid Robot Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing Government Initiative for Automation Across Industries
    • Growing Demand for Humanoid Robots from the Retail Industry
    • Rising Use of Humanoid Robots in Education and Healthcare Sector
    • Market Restraints
      • Higher Initial Cost for Development of Humanoid Robots
      • Market Opportunities
        • Ongoing Research and Development For Introducing Humanoid Robots
        • Introduction of Advanced Technologies in Humanoid Robots to Aid Human-Robot Collaboration
        • Market Challenges
          • Complex Mechanism and Concerns Related to Humanoid Robots
          • Market Segmentation Analysis
            • Component: Growing usage of hardware components that are necessary for the structure, movement, power supply of the robot
            • Application: Growing potential of humanoid robots in education & entertainment to engage students and audiences
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Humanoid Robot Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Humanoid Robot Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • BMW partners with robotics startup Figure to take on Tesla's robot
              
              Figure, a burgeoning robotics enterprise forged a notable alliance with BMW Manufacturing, bringing humanoid robots into the automaker's US facility. This collaboration, representing Figure's inaugural commercial agreement, aims to integrate these advanced robots into BMW's workforce, assisting with tasks that require human-like capabilities. This innovative venture exemplifies the rising trend of utilizing humanoid robotics in manufacturing and spotlights Figure's emergence as a pioneering force in this cutting-edge domain.
              
              Backed by Open AI, this Norweigian Startup just Raised USD 100M in Funding to Bring Humanoid Robots into Living Space
              
              Pal Robotics, now known as 1X Technologies and based in Mountain View, California, achieved a significant milestone with a hefty USD 100 million in Series B funding, orchestrated by the Swedish venture capital firm EQT Ventures, also known for its recent investments in Generative Engineering and Qevlar AI. The funding round saw participation from tech powerhouse Samsung NEXT as a new investor, alongside continued backing from Skagerak Capital and the Nistad group. This funding would help to produce safe and advanced androids at a commercial scale, aiming to meet global labor demands and build an abundant society.
              
              Sanctuary AI’s New Humanoid Robot Stands 5’7″ and Lifts 55 lb
              
              Sanctuary AI, headquartered in Vancouver, has recently introduced Phoenix, a cutting-edge humanoid robot with notable human-like attributes. Phoenix has been designed to mimic human form and function, standing at a height of 5'7 and weighing 155 pounds, closely aligning with the average adult's physique. This anthropomorphic machine is engineered to lift objects weighing up to 55 pounds and can move at speeds reaching three miles per hour, showcasing its robust capabilities.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Humanoid Robot Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Humanoid Robot Market, highlighting leading vendors and their innovative profiles. These include Agility Robotics, Apptronik, Inc., Beyond Imagination, Inc., Engineered Arts Ltd., EZ-Robot Inc., Fujitsu Limited, General Motors Company, Hajime Research Institute, Ltd., Hanson Robotics, Limited, Honda Motor Co., Ltd., Hyundai Motor Company, Intuitive Robots SAS, Kawada Robotics Co., Ltd., Kawasaki Heavy Industries, Ltd., Kondo Science Co., Ltd., Macco Robotics, PAL Robotics, Promobot LLC, Robotis, Inc., Samsung Electronics Co., Ltd., Shadow Robot Company, SoftBank Robotics Group Corp., THK Co., Ltd., Tokyo Robotics Inc., Toyota Motor Corporation, and Ubtech Robotics Corp Ltd..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Humanoid Robot Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Motion Type
              • Biped
              • Wheel Drive
              • Component
                • Hardware
                  • Actuator
                  • Control System
                  • Power Source
                  • Sensors
                  • Software
                  • Type
                    • Autonomous Robots
                    • Intelligent Robotic Assistants
                    • Personal Assistants
                    • Service Robots
                    • Social Robots
                    • Application
                      • Education & Entertainment
                      • Personal Assistance & Caregiving
                      • Public Relations
                      • Research & Space Exploration
                      • Search & Rescue
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year