Global Humanoid Robots Market (by Component, Motion Type, Application, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

Global Humanoid Robots Market (by Component, Motion Type, Application, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)


Market Insight:

Humanoid robots are service robots with body shapes designed to imitate human bodies. Humanoid robots are utilised in power plant inspection, maintenance, and disaster response to relieve human workers of hard and risky jobs. They are also prepared to take over ordinary activities for astronauts during space travel.

Humanoid robots with artificial intelligence algorithms are widely used in the healthcare sector as medical assistants and training aids because they can do laborious and difficult tasks from a variety of body positions. As a result, rising demand from the healthcare industry is one of the primary factors driving the demand for humanoid robots in the coming years. The global humanoid robots market is predicted to rise to US$3.04 billion in 2023, progressing at a CAGR of 41.16%, during the forecast period.

Segment Covered:
  • By Component: In terms of component, the report identifies two segments of the global humanoid robots market: Hardware and Software. The hardware held the maximum share in the market. On the other hand, the software segment is expected to grow at the highest CAGR in the forthcoming years on account of rising adoption of artificial intelligence algorithms in humanoid robots to boost robot’s performance.
  • By Motion Type: The report provides the categorization of the market into two segments on the basis of motion type: Bipedal and Wheel Drive. The bipedal motion type held largest share in the market. The segment is expected to grow at the highest CAGR in the forthcoming years segment owing to rising demand for biped robots as they are capable of walking on the feet like humans. In addition, beneficial features associated with the bipedal humanoids such as self-maintenance, autonomous learning, security, etc., that provide efficient assistance to human task is estimated to contribute to the bipedal segment growth in the forecasted period.
  • By Application: The report further splits the global market into six segments based on the application: Retail & Healthcare, Hospitality, Healthcare, Military & Defense, Construction and Others. The retail & healthcare held the highest share in the market. The market's expansion is aided by growing emphasis of the retail sector to enhance customer engagement by implementation of smart technologies such as humanoid robots and high adoption for personal assistance and caregiving to provide patients with personal care at hospitals and homes.
Geographic Coverage:

According to this report, the humanoid robots market is divided into four regions, namely, Asia Pacific, North America, Europe, and the Rest of the World. The countries covered in Asia Pacific region are China, Japan, South Korea, India, and Rest of the Asia Pacific, while North America includes the US, Canada, and Mexico. Moreover, Germany, Italy, France, The UK, and Rest of Europe are included in the Europe region.

Asia Pacific held the dominating share in the market owing to growing availability of most sophisticated and advanced robots at lower prices along with the large number of players present in the APAC region. In North America, the US is expected to be the fastest growing region in the forecasted period. Whereas, in Europe region, Germany held major share in the market owing to the increasing adoption of humanoid robots by the industrial verticals due to modernization and industrialization in the region, surge in demand for automation in personal and professional sector, and increasing number of elderly care centres.

Top Impacting Factors:

Growth Drivers
  • Accelerating Adoption for Educational Purposes
  • Rising Income Levels
  • Increasing Geriatric Population
  • Surging Demand from Healthcare Sector
Challenges
  • Lack of High Level Interfacing
  • Privacy & Security Concerns
Trends
  • Rising Adoption in Aviation Industry
  • Growing Demand from Retail Industry for Personal Assistance
  • Expansion of Construction Industry
  • Technological Advancements
  • Driver: Accelerating Adoption for Educational Purposes
These robots assist educators in teaching as well as help enhance the students' motivation, engagement, and concentration. In addition to these abilities, the humanoid robots enable educators to create an enhanced interactive education session, which is propelling their adoption and bolstering the market growth. For instance, SoftBank Robotics’ humanoid robot, Nao, is transforming how STEM (science, technology, engineering, and math) education is conducted in schools. It has also been touted to be of immense benefit for children with special needs. Moreover, the use of these robots for teaching languages is another factor bolstering the market growth. Hence, with growing education expenditure, the adoption of these robots for educational purposes is bound to increase, which in turn, has encouraged the global humanoid robots market growth.
  • Challenge: High Initial Cost and Research & Development Expenses
A major challenge faced by the humanoid robots industry is the high initial cost and research & development expenses. Academic robots, programmable industrial or service provider robots, and other robots made with mass-market components may perform simple tasks and are easily available in the marketplace at a competitive price. However, in the case of humanoid robots, as the level of complexity of tasks increases, the cost of R&D incurred into it also increases. The overall cost associated with humanoid robots includes component costs, repair, and maintenance costs, and research and development costs required for developing advanced and professional humanoid robots. The price disparity is almost 140%, which makes it impossible for the humanoid robot makers to compete. The high cost of humanoid robots acts as a major restraining factor for market growth.
  • Trend: Growing Demand from Retail Industry for Personal Assistance
Humanoid robots are employed in commercial or retail outlets to provide customers, demonstrate components, and help to gather customer data effectively such as phone numbers, zip codes, email addresses, and service feedbacks. Big retailers like Walmart and Amazon use a lot of different robots in their warehouses and retail stores to do the jobs like inventory management and to deliver unique experiences to the customers. The growth in retail sales would lead to rising adoption of humanoid robots.

The COVID-19 Analysis:

In 2020, the pandemic affected growth of the humanoid robot market by halting the export of humanoid robot components, impacting the production of humanoid robots during the initial phase of 2020. However, the demand for humanoid robots increased in the healthcare sector in the second half of 2020. Humanoid robots handled COVID-19 panic situations at healthcare facilities by assisting and providing relief to over-burdened medical staff. They were used in hospitals to ensure the safety of the medical staff and supply food and medicines to the patients affected by the virus.

Analysis of Key Players:

The global humanoid robots market is consolidated, with a few companies accounting for majority market revenue share. The key players in the global humanoid robots market are:
  • Honda Motor Co., Ltd.
  • Toyota Motor Corporation
  • Toshiba Corporation
  • Kawada Technologies, Inc. (Kawada Robotic Corporation)
  • SoftBank Group Corp.
  • Hyulim Robot Co., Ltd.
  • Hanson Robotics Limited
  • Hyundai Motor Group (Boston Dynamics)
  • Agility Robotics Inc.
  • Engineered Arts Limited
  • Hajime Research Institute Ltd.
  • UBTECH Robotics Inc.
  • Qihan Technology Co., Ltd.
Some of the strategies among key players in the market for humanoid robots are product launches, mergers, acquisitions, and collaborations. For instance, in 2021, SoftBank Robotics signed a partnership agreement with Keenon Robotics to widen the applications of robotics systems in the service industry. Whereas, UBTECH Robotics, Inc., partnered with Ricoh USA, Inc., during the same year, to combine the deployment and maintenance of UV-C power disinfection system.


1. Executive Summary
2. Introduction
2.1 Humanoid Robots: An Overview
2.1.1 Introduction to Humanoid Robots
2.1.2 Types of Robots
Table 1: Types of Robots
2.1.3 Components Breakdown of Humanoid Robots
Table 2: Components Breakdown of Humanoid Robots
2.2 Humanoid Robots Segmentation: An Overview
2.2.1 Humanoid Robots Segmentation
Table 3: Humanoid Robots Segmentation
3. Global Market Analysis
3.1 Global Humanoid Robots Market: An Analysis
3.1.1 Global Humanoid Robots Market: An Overview
3.1.2 Global Humanoid Robots Market by Value
Table 4: Global Humanoid Robots Market by Value; 2017-2021 (US$ Billion)
Table 5: Global Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
3.1.3 Global Humanoid Robots Market by Component (Hardware and Software)
Table 6: Global Humanoid Robots Market by Component; 2021 (Percentage, %)
3.1.4 Global Humanoid Robots Market by Motion Type (Bipedal and Wheel drive)
Table 7: Global Humanoid Robots Market by Motion Type; 2021 (Percentage, %)
3.1.5 Global Humanoid Robots Market by Application (Retail & Healthcare, Hospitality, Construction, Military & Defense, and Others)
Table 8: Global Humanoid Robots Market by Application; 2021 (Percentage, %)
3.1.6 Global Humanoid Robots Market by Region (Asia Pacific, North America, Europe, and rest of the World)
Table 9: Global Humanoid Robots Market by Region; 2021 (Percentage, %)
3.2 Global Humanoid Robots Market: Component Analysis
3.2.1 Global Humanoid Robots Market by Component: An Overview
3.2.2 Global Humanoid Robots Hardware Market by Value
Table 10: Global Humanoid Robots Hardware Market by Value; 2017-2021 (US$ Million)
Table 11: Global Humanoid Robots Hardware Market by Value; 2022-2027 (US$ Billion)
3.2.3 Global Humanoid Robots Software Market by Value
Table 12: Global Humanoid Robots Software Market by Value; 2017-2021 (US$ Million)
Table 13: Global Humanoid Robots Software Market by Value; 2022-2027 (US$ Billion)
3.3 Global Humanoid Robots Market: Motion Type Analysis
3.3.1 Global Humanoid Robots Market by Motion Type: An Overview
3.3.2 Global Bipedal Humanoid Robots Market by Value
Table 14: Global Bipedal Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 15: Global Bipedal Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
3.3.3 Global Wheel Drive Humanoid Robots Market by Value
Table 16: Global Wheel Drive Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 17: Global Wheel Drive Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
3.4 Global Humanoid Robots Market: Application Analysis
3.4.1 Global Humanoid Robots Market by Application: An Overview
3.4.2 Global Retail & Healthcare Humanoid Robots Market by Value
Table 18: Global Retail & Healthcare Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 19: Global Retail & Healthcare Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
3.4.3 Global Hospitality Humanoid Robots Market by Value
Table 20: Global Hospitality Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 21: Global Hospitality Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
3.4.4 Global Construction Humanoid Robots Market by Value
Table 22: Global Construction Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 23: Global Construction Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
3.4.5 Global Military & Defense Humanoid Robots Market by Value
Table 24: Global Military & Defense Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 25: Global Military & Defense Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
3.4.6 Global Others Humanoid Robots Market by Value
Table 26: Global Others Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 27: Global Others Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
4. Regional Market Analysis
4.1 Asia Pacific Humanoid Robots Market: An Analysis
4.1.1 Asia Pacific Humanoid Robots Market: An Overview
4.1.2 Asia Pacific Humanoid Robots Market by Value
Table 28: Asia Pacific Humanoid Robots Market by Value; 2017-2021 (US$ Billion)
Table 29: Asia Pacific Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
4.1.3 Asia Pacific Humanoid Robots Market by Region (China, Japan, South Korea, India, and Rest of the Asia Pacific)
Table 30: Asia Pacific Humanoid Robots Market by Region; 2021 (Percentage, %)
4.1.4 China Humanoid Robots Market by Value
Table 31: China Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 32: China Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
4.1.5 Japan Humanoid Robots Market by Value
Table 33: Japan Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 34: Japan Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.1.6 South Korea Humanoid Robots Market by Value
Table 35: South Korea Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 36: South Korea Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.1.7 India Humanoid Robots Market by Value
Table 37: India Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 38: India Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.1.8 Rest of Asia Pacific Humanoid Robots Market by Value
Table 39: Rest of Asia Pacific Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 40: Rest of Asia Pacific Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.2 North America Humanoid Robots Market: An Analysis
4.2.1 North America Humanoid Robots Market: An Overview
4.2.2 North America Humanoid Robots Market by Value
Table 41: North America Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 42: North America Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
4.2.3 North America Humanoid Robots Market by Region (The US, Canada, and Mexico)
Table 43: North America Humanoid Robots Market by Region; 2021 (Percentage, %)
4.2.4 The US Humanoid Robots Market by Value
Table 44: The US Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 45: The US Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
4.2.5 Canada Humanoid Robots Market by Value
Table 46: Canada Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 47: Canada Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.2.6 Mexico Humanoid Robots Market by Value
Table 48: Mexico Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 49: Mexico Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.3 Europe Humanoid Robots Market: An Analysis
4.3.1 Europe Humanoid Robots Market: An Overview
4.3.2 Europe Humanoid Robots Market by Value
Table 50: Europe Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 51: Europe Humanoid Robots Market by Value; 2022-2027 (US$ Billion)
4.3.3 Europe Humanoid Robots Market by Region (Germany, Italy, France, the UK, and Rest of the Europe)
Table 52: Europe Humanoid Robots Market by Region; 2021 (Percentage, %)
4.3.4 Germany Humanoid Robots Market by Value
Table 53: Germany Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 54: Germany Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.3.5 Italy Humanoid Robots Market by Value
Table 55: Italy Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 56: Italy Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.3.6 France Humanoid Robots Market by Value
Table 57: France Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 58: France Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.3.7 The UK Humanoid Robots Market by Value
Table 59: The UK Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 60: The UK Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.3.8 Rest of Europe Humanoid Robots Market by Value
Table 61: Rest of Europe Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 62: Rest of Europe Humanoid Robots Market by Value; 2022-2027 (US$ Million)
4.4 Rest of World Humanoid Robots Market: An Analysis
4.4.1 Rest of World Humanoid Robots Market: An Overview
4.4.2 Rest of World Humanoid Robots Market by Value
Table 63: Rest of World Humanoid Robots Market by Value; 2017-2021 (US$ Million)
Table 64: Rest of World Humanoid Robots Market by Value; 2022-2027 (US$ Million)
5. Impact of COVID-19
5.1 Impact of COVID-19 on Humanoid Robots Market
5.1.1 General Impact
5.1.2 Post COVID Impact on Humanoid Robots
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rapid Urbanization
Table 65: Global Share of Urban Population in Total Population; 2015, 2020 & 2050 (Percentage, %)
6.1.2 Accelerating Adoption for Educational Purposes
Table 66: Global Education Expenditure; 2018-2030
6.1.3 Rising Income Levels
Table 67: Global GNI per Capita; 2017-2021 (Current US$)
6.1.4 Increasing Geriatric Population
Table 68: Global Population 65 Years and Above; 2017-2021 (Million)
6.1.5 Surging Demand from Healthcare Sector
Table 69: Global Health Innovation Funding; 2019-2021 (US$ Billion)
6.2 Challenges
6.2.1 High Initial Cost and Research & Development Expenses
6.2.2 Lack of High Level Interfacing
6.2.3 Privacy & Security Concerns
6.3 Market Trends
6.3.1 Rising Adoption in Aviation Industry
Table 70: Global Number of Scheduled Passengers Boarded by the Airline Industry; 2020-2022 (Million)
6.3.2 Growing Demand from Retail Industry for Personal Assistance
Table 71: Global Total Retail Sales; 2020-2025 (US$ Trillion)
6.3.3 Expansion of Construction Industry
Table 72: Global Construction Market; 2020-2030 (US$ Trillion)
6.3.4 Technological Advancements
6.3.5 Increasing Rental Offerings of Humanoid Robots
7. Competitive Landscape
7.1 Global Humanoid Robots Market Players: Comparison based on Product Launches
Table 73: Global Humanoid Robots Market Players: Comparison based on Product Launches (2015-2022)
8. Company Profiling
8.1 Toyota Motor Corporation
8.1.1 Business Overview
8.1.2 Operating Segment
Table 74: Toyota Motor Corporation Sales Revenue by Segment; 2021 (Percentage, %)
8.1.3 Business Strategy
8.2 Honda Motor Co., Ltd.
8.2.1 Business Overview
8.2.2 Operating Segment
Table 75: Honda Motor Co., Ltd. Sales Revenue by Segment; 2021 (Percentage, %)
8.2.3 Business Strategy
8.3 SoftBank Group Corp.
8.3.1 Business Overview
8.3.2 Operating Segment
Table 76: SoftBank Group Corp. Net Sales by Segment; 2021 (Percentage, %)
8.3.3 Business Strategy
8.4 Toshiba Corporation
8.4.1 Business Overview
8.4.2 Business Segments
Table 77: Toshiba Corporation Net Sales by Segment; 2021 (Percentage, %)
8.4.3 Business Strategy
8.5 Kawada Technologies, Inc. (Kawada Robotic Corporation)
8.5.1 Business Overview
8.5.2 Operating Segment
Table 78: Kawada Technologies, Inc. Sales Revenue by Segment; 2021 (Percentage, %)
8.5.3 Business Strategy
8.6 Hyulim Robot Co., Ltd.
8.6.1 Business Overview
8.6.2 Business Strategy
8.7 Hanson Robotics Limited
8.7.1 Business Overview
8.7.2 Business Strategy
8.8 Agility Robotics Inc.
8.8.1 Business Overview
8.8.2 Business Strategy
8.9 Engineered Arts Limited
8.9.1 Business Overview
8.9.2 Business Strategy
8.10 Hyundai Motor Group (Boston Dynamics)
8.10.1 Business Overview
8.10.2 Business Strategy
8.11 UBTECH Robotics Inc.
8.11.1 Business Overview
8.11.2 Business Strategy
8.12 Qihan Technology Co., Ltd.
8.12.1 Business Overview
8.13 Hajime Research Institute Ltd.
8.13.1 Business Overview

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