PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1568346
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1568346
The humanoid robot market to grow from USD 2.03 billion in 2024 and is expected to reach USD 13.25 billion by 2029, growing at a CAGR of 45.5% from 2024 to 2029. The rising adoption of humanoids as educational robots is driving market growth. Humanoid robots serve as interactive tools to engage and motivate students across various learning settings, such as classrooms, and out-of-school programs
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Type, Offering, Application and Region |
Regions covered | North America, Europe, APAC, RoW |
"Wheel-drive segment segment to grow at the second fastest CAGR during forecast period."
Wheel-drive humanoid robots are used for entertainment at theme parks, amusement parks, science events as well as research in universities and research institutes. Recent developments in wheel-drive humanoid robots have enabled them to work in hazardous environments and places where humans cannot easily reach.
"Hardware segment to hold the largest market share during the forecast period."
The hardware system in humanoid robots is made up of a variety of components that are integrated to achieve specific tasks. These include sensors that make it possible for the robot to perceive the environment through cameras, depth sensors, and touch sensors. Control systems and processors take care of processing sensor data and running very complex algorithms that result in autonomous decision-making plus intelligent behavior. Additionally, body materials combine with electronic; electrical; and mechanical components toward achieving a complete structure and functioning as a whole machine. This kind of composition of hardware features in humanoid robots allows for easy integration of technologies so that they attain human-like features and can perform duties across various industries such as healthcare, entertainment, research, and education.
"China to grow at the fastest CAGR during forecast period."
China is a manufacturing hub for semiconductors and electronic components, electronic chips, and sensors, which are exported to the rest of the world. The country has huge potential in manufacturing and selling sensor-based devices. It is also home to some of the leading humanoid robot manufacturers such as Hanson Robotics Ltd and UBTECH Robotics Corp. Ltd. China is making great progress in the mass production of humanoid robots and plans to reach this milestone by 2025. The initiative, led by the Ministry of Industry and Information Technology (MIIT), has laid out a comprehensive roadmap for the development of humanoid robots as a key component of the national industrial strategy.
Research Coverage
The report segments the humanoid robot market and forecasts its size, by value & volume, based on By Type (Biped, and Wheel Drive); By Offering (Hardware, Software, and Services); By Application (Education & Entertainment, Research & Space Exploration, Personal Assistance & Caregiving, Search & Rescue, Public Relations, Manufacturing, and Other Applications (Cleaning, and Surveillance)); and Region (North America; Europe; Asia Pacific; and RoW. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the humanoid robot market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Reason to Buy Report
The report will provide market leaders and new entrants with information closes approximations of the revenue numbers for the overall humanoid robot market and the subsegments. This report will help stakeholders comprehend the competitive landscape and gain deeper insights to better position their businesses and plan effective go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.