Key Trends – Humanoid Robot Market to Soar at 52.1% CAGR and Projected to Reach US$ 3,962.5 Million by 2023
The humanoid robot market is mainly driven by factors such as introduction of advanced features in humanoid robots, increasing use of humanoids as educational robots, and growing demand from retail industry for personal assistance. For this study.
Pune, India – April 27, 2018 /MarketersMedia/ —
The humanoid robot market size will reach $3,962.5 million by 2023 from $320.3 million in 2017 at a CAGR of 52.1% between (2017-2023) driven by the introduction of advanced features in humanoid robots, the increasing use of humanoids as educational robots, growing demand from the retail industry for personal assistance, rapid growth in aging population, rise in demand from medical and logistics sectors, and the rising trend of autonomous rescue operations.
Browse 64 Market Data Tables and 37 Figures spread through 133 Pages and in-depth TOC on “Humanoid Robot Market by Component, Motion Type (Biped & Wheel Drive), Application (Education and Entertainment, Research & Space Exploration, Personal Assistance and Caregiving, Search and Rescue, Public Relations), and Geography – Global Forecast to 2023” http://www.reportsnreports.com/reports/1222387-humanoid-robot-market-by-component-motion-type-biped-wheel-drive-application-education-and-entertainment-research-space-exploration-personal-assistance-and-caregiving-search-and-rescue-public-relations-st-to-2023.html .
Key players in the humanoid robot market include Soft Bank (Japan), ROBOTIS (South Korea), KAWADA ROBOTICS (Japan), Honda Motor (Japan), UBTECH ROBOTICS (China), Hajime Research Institute (Japan), Hanson Robotics (Hong Kong), DST Robot Co. (South Korea), PAL Robotics (Spain), Toyota Motor (Japan), ROBO GARAGE Co. (Japan), Istituto Italiano di Tecnologia (Italy), Engineered Arts (UK), Robotics Lab (Spain), and National Aeronautics and Space Administration (NASA, US).
Target Audience:
• Raw material and manufacturing equipment suppliers
• Electronic design automation (EDA) and design tool vendors
• Original equipment manufacturers (OEMs)
• Integrated device manufacturers (IDMs)
• Original design manufacturers (ODMs)
• ODM and OEM technology solution providers
• Assembly, testing, and packaging vendors
• Technology, service, and solution providers
• Intellectual property (IP) core and licensing providers
• Suppliers and distributors
• Government and other regulatory bodies
• Technology investors
• Research institutes and organizations
• Market research and consulting firms
The Americas held the largest share of the humanoid robot market in 2016. The Americas is the early adopter of humanoids for all the major applications, such as public relations, personal assistance and caregiving, and education and entertainment, resulting in the maximum demand for robots from this region. The market in APAC is expected to grow at the highest CAGR between 2017 and 2023. APAC is likely to adopt humanoids for almost all the major applications during the forecast period. As the elderly population in APAC countries such as China and Japan is on the rise, the region is expected to employ humanoids for the personal assistance and caregiving application.
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The humanoid robot market for the biped motion type is expected to grow at a higher CAGR between 2017 and 2023. At present, biped humanoid manufacturers are facing several challenges in terms of robot stability and movement speed issues, and its capability to move around in different terrains. This is limiting its use in several applications, such as space exploration, search and rescue, and public relations, where the movement of the robot at high speed and in various terrains is a requirement. However, with the advancement in the technology, players are likely to overcome these issues associated with biped humanoid robots; hence, the demand for humanoids is expected to grow in almost every application.
The humanoid robot market for the education and entertainment application is expected to grow at the highest CAGR during the forecast period. Humanoid robots have the ability to assist and even replace teachers in classrooms; hence, schools are looking forward to deploying humanoids in their classrooms to attract the attention of parents by modernizing the teaching pattern. Moreover, with decline in the price of humanoids, it is expected that they will make their way to homes as educational material to impart education and also teach programming to kids.
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The hardware component held a larger share of the humanoid robot market in 2016. The hardware components add major value to the overall humanoid robot as they make robots look like humans. Among different hardware components, control systems accounted for the largest market share in 2016.
The humanoid robot market for software will grow at higher CAGR during forecast period. The breakup of primaries conducted during the study is depicted below.
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level Executives – 75% and Director Level – 25%
• By Region: Americas – 10%, Europe – 20%, APAC – 40%, and RoW – 30%
This report includes the market statistics pertaining to the humanoid robot component, motion type, application, and geography, along with their respective market size. Major drivers, restraints, opportunities, and challenges for the humanoid robot market have been detailed in the report. Opportunities in the market have been defined for stakeholders, along with the details of the competitive landscape for the market leaders. Strategic profiling of the key players in the humanoid robot market has been done, and player’s market rankings and core competencies have been comprehensively analysed. Illustrative competitive leadership mapping of 25 global companies has been done.
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