PUBLISHER: Grand View Research | PRODUCT CODE: 1363180
PUBLISHER: Grand View Research | PRODUCT CODE: 1363180
The global humanoid robot market size is expected to reach USD 5.04 billion by 2030, registering a CAGR of 21.1% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The global market is poised for substantial growth due to rapid technological advancements leading to more efficient and affordable robot models. Furthermore, the increasing adoption of humanoid robots in military and defense applications, providing battlefield intelligence and knowledge of enemy movements, is expected to drive market expansion. In addition, the growing trend of industry automation is anticipated to further fuel the demand for humanoid robots in various sectors.
Healthcare personnel are using humanoid robots to help with a variety of duties, including patient care, physical therapy, and monitoring. They can be designed to carry out monotonous activities, lightening the load on medical staff and increasing productivity all around. Some cutting-edge humanoid robots are employed in operations. They provide tremendous dexterity and precision, allowing surgeons to carry out intricate procedures with more accuracy and less intrusiveness. Humanoid robot advancements are being driven by ongoing R&D in the field of robotics, making them more versatile and specialized for healthcare purposes. The key players have focused on renting out their humanoids to promote the use of the technology.
For example, in December 2019, CloudMinds created a smart robot rental program that provides humanoid robots with cloud-based intelligence for entertainment at weddings, special events, conferences, trade exhibitions, and workplaces. With ambitions for robots like Cloud Patrol, Cloud Vending, Cloud Cleaning, and Cloud Assistant, the rental program began with the Cloud Pepper robot, which is well-known across several worldwide industry verticals. This would raise awareness about the advantages of technology and encourage more people to adopt it. Moreover, novel product launch by key players to enhance their product portfolio boosts market growth.
For instance, Fourier Intelligence intends to produce 100 of its GR-1 universal humanoid robots by the end of 2023, ensuring the incredible claim that these machines will be able to lift nearly their own weight, in response to the growing need for healthcare during labor shortages and an aging population. They have a distinct focus as well. The GR-1 humanoid will be able to help pick up goods and transfer people from beds to wheelchairs. Robotic humanoid development was slowed during the COVID-19 pandemic. Several economies were badly disrupted due to the pandemic. Industries were forced to shut down for several months as a result of the supply chain disruption and manpower scarcity.
Humanoids, on the other hand, are important in the healthcare industry, and this trend is expected to continue. To minimize human contact during the pandemic, robots were introduced into healthcare and other industries. Finding the best financing and leasing options is just as crucial as picking the correct robot as the high price of humanoids has been a significant barrier to their adoption. Brick-and-mortar enterprises must carefully weigh concerns about human labor while using and deploying these robots. Financing and leasing alternatives can help remove this barrier by providing firms with a variety of payment choices that might make the initial cost more feasible. Some distributors and manufacturers of robots provide financing and leasing arrangements for their products, allowing businesses to pay for the robots gradually rather than all at once.