PUBLISHER: DataM Intelligence | PRODUCT CODE: 1208661
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1208661
The global humanoid robot market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of YY% during the forecast period (2022-2029).
A professional service robot known as humanoid shares many physical traits with humans, such as having one head, a torso, two arms, two legs, a face, eyes and a mouth. It also can interact with humans and other robots, interpret information and carry out specific tasks in response to user input. Because it can adjust to its surroundings and keep working toward its objectives, it is fully automated. Robots that resemble humans have sensors and actuators. The robots are typically pre-programmed to do particular jobs.
Self-maintenance, autonomous learning, and secure interaction with people and the environment are characteristics of humanoid robots. Humanoid robots are capable of performing tasks that humans can, as well as tasks that they are unable to perform and they are error-free. Artificial intelligence-enhanced humanoid robots are frequently used in the healthcare sector as medical assistants and training tools since they can carry out laborious and challenging activities from various body positions.
The market's expansion is attributable to the advancement of humanoid robot technology and the increased use of humanoids in industrial and automotive settings. However, the high startup costs and R&D expenses necessary for creating advanced robotics limit industry expansion.
The growing product launches
Important market participants communicate with their clients to comprehend needs and create effective solutions. Space agencies like NASA use advanced humanoid robots to conduct space exploration that is dispatched to extraterrestrial planets for various purposes, from close-up photography of planets to determining whether they sustain life.
India is anticipated to launch Vyomitra, a humanoid robot developed by the Indian Orbit Research Organization, into space in the latter half of 2021. (ISRO). The model is based on a real lady who can handle switch panels, communicate with astronauts and keep an eye on a spacecraft's environmental and life support systems but lacks legs. The main objective is to enable ISRO to investigate how space travel affects the human body.
The rising usage in automotive and industrial applications
The industrial sector has benefited from the advent of robotics and the advancement of humanoid robots since they may be used to replicate human intelligence, improve working conditions and increase task precision. Digit, a 5-foot-tall humanoid robot by Agility Robotics, debuted in January 2020. Ford Motor Company was the company to purchase the first two robots.
Ford's connected vehicles may share their continuously updated cloud-based maps with Digit, so that duplicate data does not need to be created. Digit can balance on one moveable leg, overcome obstacles equipped with sensors and use robust onboard computing technology to map the world for robot navigation. Ford uses Digit for its autonomous self-driving vehicles' commercial package delivery service. Without wasting energy, Digit can pick up products weighing up to 40 pounds and proceed upright upstairs to the consumer's door.
High initial costs and R&D expenses
Robotic toys, instructional robots, programmable industrial or service robots, and others may perform basic tasks and are readily accessible on the market at a competitive price because they are made using mass-market components. However, the cost of R&D is increased in the case of humanoid robots as the complexity of the duties grows.
A significant barrier to market expansion is the expensive cost of humanoid robots. The total cost of humanoid robots comprises component costs, repair and maintenance expenses and the research and development costs necessary to create sophisticated and capable humanoid robots. For small- and medium-sized businesses, it involves a significant expenditure.
COVID-19 Impact Analysis
Transmitting robots are being used as an interaction between doctors and patients to carry out diagnostic and treatment procedures while lowering the risk of infection at field hospitals in Hongshan Sports Centre, Wuhan in China, during the COVID-19 outbreak and with social distancing initiatives being imposed by governments worldwide. To transfer skills from humans to machines performing treatments, essential staff are being substituted by autonomous floor-cleaning humanoid robots, which has caused the market share of humanoid robots in various hospitals in China and AIIMS Delhi, India, to soar.
Forbes reported in March 2020 that humanoid robots powered by 5G are being utilized to stop the spread of disease and clean inaccessible spaces in hospitals close to contaminated patients. These robots have force-based touch sensors installed to give them a feeling of touch. According to a March 2020 Forbes article, the Shenzhen-based startup Pudu Technology has developed contactless delivery methods using robots and autonomous cars to decrease cross-infection through fully automated home delivery of food and medications. The logistics subsidiary of Alibaba deploys robots in its warehouses to speed up order fulfillment and also secures contributions of medical help to certain regions of China for necessary coronavirus testing and treatment.
By motion, the humanoid robot market is segmented into biped and wheel drive.
The rising usage of biped humanoid robots in various end-use industries
Biped motion-type humanoid robots are anticipated to command the most market share during the anticipated timeframe. Biped product types are becoming increasingly popular due to the widespread use of biped humanoid robots in manufacturing, construction and other sectors of the economy. The market for humanoid robots will develop due to the increasing demand for biped motion type humanoid robots in industry and academics for various applications.
Robots of the biped motion type (BMT) can easily climb stairs and dodge objects on the ground. The market for humanoid robots will experience tremendous growth due to the widespread use of BMT robots in advertising, research platforms, public relations efforts and other applications.
The presence of key innovators in Asia-Pacific
As the principal creators and innovators of the technology, Asia-Pacific is likely to hold a sizable market share for humanoid robots. Asia-Pacific will likely use humanoids for all key applications during the projection period. Asia-Pacific nations like China and Japan, where the senior population is growing, are likely to use humanoids for personal support and nursing purposes. The nations are among the biggest producers of humanoid robots.
The market for humanoid robots in this region will experience tremendous growth due to the humanoid robots (HM) being used in various functions, including advertising, instructional assistance and others. Additionally, because of the COVID-19 pandemic, economies like China and Japan want to use humanoids in healthcare and education, increasing the demand for humanoids in the region.
The global humanoid robot market appears competitive due to many well-established rivals. To meet consumer needs, the players are spending on the R&D of new technologies, introducing new products and upgrading existing technologies. These are the methods that the major players most frequently use to get a competitive edge across the whole humanoid robot business.
Major global humanoid robot market companies include SoftBank, Kawada Robotics, Honda Motor, Hanson Robotics, DST Robot Co., PAL Robotics, Engineered Arts Limited, Sanbot Co., Trossen Robotics and Hajime Research Institute, Ltd.
Overview: SoftBank Robotics creates and makes friendly, interactive robots. In less than ten years, the business has quickly risen to the top of the market for humanoid robots. More than 25,000 NAO and Pepper robots from SoftBank Robotics are used in more than 70 countries, from retail to tourism, health and education. There are presently more than 500 employees working with SoftBank Robotics at its offices in Tokyo, Paris, San Francisco, Boston and Shanghai.
Product Portfolio: The robots made by the company are Whiz, NAO and pepper. The first social humanoid robot to identify faces and fundamental human emotions is Pepper. Pepper can interact with humans through speech and his touch screen since it was designed for human interaction.
Key Development: To expand the use of robot systems in the service sector, SoftBank Robotics and Keenon Robotics announced a partnership agreement in September 2021. Service teams will have more time and resources to devote to customer service because of service robots' excellent operating efficiency.
The global humanoid robot market report would provide access to an approx. 61 market data table, 63 figures and 211 pages.
Target Audience 2022
LIST NOT EXHAUSTIVE