Humanoid Robot Market Size Forecast to Reach $3.0 Billion by 2026

(IT-NEWSWIRE.COM, April 05, 2022 ) Global Humanoid Robot Market is forecast to reach $3.0 billion by 2026, estimated to grow at a CAGR of 30.9% from 2021 to 2026. Humanoid Robot Market is driven by the increasing demand of safety and comfort, of the human beings, due to advancement in technologies. The humanoid collaborative robot performs tedious and strenuous tasks through electronic design automation and artificial intelligence (particularly reinforcement learning), which are avoided by humans, this is going to provide huge growth to humanoid robot market. The use of Humanoid robots in supportive patient care as gynoids, social robots and bipedal lcoomotion based patient care robots, is going to provide huge growth to humanoid robot market in healthcare. Additionally, introduction of advance technology such as artificial intelligence, tactile sensing and visual perception is going to provide the self-learning capabilities to humanoid robots, which are going to boost the humanoid robot market.

Humanoid Robot Market Segment Analysis – By Motion

Biped motion type humanoid robots are estimated to hold the major share in humanoid robot market during the forecast period. The growing demand of biped motion type humanoid robots in industry as well as academia, for various purposes, is going to boost the humanoid robot market. The biped motion type (BMT) humanoids robot can easily climb up stairs and avoid obstacles on the floor. The BMT humanoid robots are widely used for advertisement, research platform, publicity campaigns, house-hold work and others, which is going to provide huge growth to humanoid robot market.

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Humanoid Robot Market Segment Analysis – By Application

Healthcare followed by education is estimated to hold the major share in humanoid robots of 21% in 2020. The introduction of surgical humanoid robot is going to provide huge growth to humanoid robot in healthcare. Additionally, humanoid robots can also be deployed for disease management, pediatric healthcare assistant, physical therapy and others. With the growing demand of E-learning the demand of humanoid robot is also increasing, the humanoids are widely used for the role of teaching assistant and games partner for children. Additionally with the introduction artificial intelligence (AI) in humanoid robots is going to provide huge growth to humanoid robot market in the research field.

Humanoid Robot Market Segment Analysis – By Geography

APAC followed by North America region is expected to dominate the humanoid robot market during the forecast period 2021-2026 with a share of 39% in 2020. The countries present in APAC region such as Japan, China others, are one of largest humanoid robot manufacturing countries. The humanoid robot(HM)are deployed in various tasks such as advertisement, teaching assistant and others, which is going to provide huge growth to humanoid robot market in this region. Moreover countries are such as China, Japan are planning to deploy humanoid in healthcare and education due to covid-19 outbreak, which is going to boost HM market in this region. In North America region the presence of key companies such as Canonical Group, Diligent Robotics, Boston Dynamics and others, is going to provide humanoid robot market. Additionally with the introduction of artificial intelligence (AI) and increasing the demand of humanoid in military and healthcare is going to boost HM market in North America region.

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Humanoid Robot Market Drivers

Increasing Demand of Safety and Comfort

The humanoid robot can perform various tasks which are dangerous to human such as exposure to harmful gases in various industries. Humanoid robot can also be deployed at the time of natural disasters, pandemic diseases such as covid-19 and others, which is going to provide huge growth to humanoid robot market. Additionally the humanoid robots can be deployed in battle field and in jobs in which human worker don’t want to do, which is going to boost the humanoid robot market.

Introduction of Advance Technology

The introduction of smart technologies such as artificial intelligence (AI) and Internet of things (IoT) is going boost the humanoid robot market. With the use AI humanoid robot can educate themselves by observing and analyzing data using different sensors. Whereas IoT enables humanoid robot to stay connected and transfer data from remote or far distance. Additionally by the application of theses advance technology the demand of humanoid robot is going to increase in various industry verticals, which is going to boost humanoid robot market.

Humanoid Robot Market Challenges

High Power Consumption

The humanoid robots are manufactured by using various types of sensors and other components. The high power consumption by the components is acting as hindrance in the growth of humanoid robot. Additionally the biped humanoid robots require more energy as compared to others, due to addition of more sensors and components, which is restring the growth humanoid robot.

Humanoid Robot Market Landscape

Launches, Innovations and R&D activities are key strategies adopted by players in the humanoid robot market. Humanoid Robot Market is expected to be dominated by major companies such as Toyota, Hitachi, Honda, ISRO, Boston Dynamics and Others.

Innovation/Launches

In March 2020, Hitachi, announced to launch a full-scale commercial operations with Excellent Mobility and Interactive Existance as Workmate (EMIEW) communication robot. The robot is primarily for the offices, hospitals and care facilities, which are going to boost the humanoid robot market.

In January 2020, The Indian Space Research Organization (ISRO) is announced to launch Vyommitra, a semi humanoid robot to space. This robot doesn’t require any space suit and is going to help by sending warning according to the changes in cabin environments. This is going to provide boost the humanoid robot market in the field of Space.

Key Takeaways

Humanoid robot market is driven by the increasing demand of safety and comfort. The humanoid robot can perform various tasks which are dangerous for humans, which is going to boost the humanoid robot market.

Introduction of advance technology such as artificial intelligence (AI) is going to provide self learning capabilities to humanoid robot. This is going to boost humanoid robot market during the forecast period.

Humanoid robot market is dominated by APAC region followed by North America during the forecast period. The presence of major humanoid manufacturing countries such as China Japan and others. Moreover Increasing deployment of humanoid robot in healthcare and education is going to provide huge growth to humanoid robot market in APAC region.

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Humanoid Robot Market Size Forecast to Reach $3.0 Billion by 2026