Exploring the Evolution and Impact of Humanoid Robots: Market Trends and Technological Breakthroughs

Exploring the Evolution and Impact of Humanoid Robots: Market Trends and Technological Breakthroughs

May 03, 2024

October 26th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Humanoid Robot Market

The Humanoid Robot Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The humanoid robot market is expected to grow from USD 1.46 billion in 2022 to USD 49.23 billion by 2029 at a CAGR of 65.3% during the forecast period. The demand for robotics has been influenced by technological advancements, leading to their adoption in various applications. Humanoid robots, which can mimic human behavior and interactions, offer a superior interface for human-robot interactions, making them ideal companions for humans.

Segments Analysis

By Component Type

"The hardware segment of the humanoid robot market held the largest share in 2021 and is expected to maintain its position during the forecast period".

Hardware components are essential in giving humanoid robots a human-like appearance, adding significant value to them. The control system is a crucial sub-component of a humanoid robot, as it processes data collected by the sensor system and sends commands to the actuators based on the output of the decision process.

By Application Type

"Personal Assistance and Care Giving applications to account for the largest market share in 2022".

The adoption of humanoid robots for personal assistance and caregiving is rapidly increasing, particularly in hospitals and homes where patients require personal care. Biped humanoid robots are being widely implemented in COVID-19 wards worldwide, which is fueling the growth of this market.

In hospitals and homes, humanoid robots are responsible for taking care of patients, assisting older people with their daily routines, and providing them with medication at the right time. These robots are programmed to handle routine tasks that caregivers typically perform, such as checking vital signs, administering medication, assisting with feedings, and alerting healthcare professionals in case of an emergency


Regional Analysis

"The Asia Pacific humanoid robot market is to grow at the highest CAGR during the forecast period".

The Asia Pacific region is expected to account for the second-largest market share in 2022 in the humanoid robot market, as players in the region are the key inventors and innovators of the technology. Asia Pacific is likely to adopt humanoid robots for almost all major applications during the forecast period. With the elderly population in countries such as China and Japan on the rise, the region is expected to employ humanoid robots for personal assistance and caregiving applications.

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Features of the Report

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Humanoid Robot Market analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors 

About Stratview Research

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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Author : Emily

Frequently Asked Questions (FAQs)

Humanoid robots are non-manual service robots created to mimic human motion and interaction. This robot is similar to and acts like a human. It is mainly designed to copy actual human expressions, interactions, and movements. These robots are mainly equipped with an array of cameras, sensors, AI, and machine learning technologies.

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