Humanoid Robots Market Research Report, by Component (Actuator, Control System, Power Source, Sensor), Motion (Bipedal), Application (Education & Entertainment, Personal Assistance, Public Relation, Research & Space Exploration) — Forecast till 2027

Market Overview

The Humanoid Robots Market is projected to grow at a high CAGR. In the upcoming years, Humanoid robots are designed with human characteristics such as behavior, appearance, and body structure. The developers in the Humanoid Robots Market are working on solving issues such as dexterous manipulation, targeted application, bipedal locomotion, etc. to work in the same environment as humans.

They can be useful to perform crucial tasks such as the dismantling of the nuclear power plant, disaster emergencies, extra-vehicular activities, space exploration, etc. Thus, the development of machine learning, artificial intelligence, machine vision, etc. is a major driver of the Humanoid Robots Market. Also, the increasing costs of research and development for designing humanoid robots will restraint the market growth significantly.

The market has various benefits such as dealing with the distribution process and customer care. They are also durable so that they can visit challenging places for humans. It is estimated that Humanoid Robots Market will boom in the Asia-Pacific region in the upcoming years. Countries such as Japan and China are extensively focusing on the development of Humanoids that will be favorable for the market.

COVID-19 Analysis

The COVID-19 disease put a brake on the production of Humanoid Robots. As the disease spread across the world, various economies across the world were highly affected. Industries were forced to shut down for several months due to the disruption in the supply chain and shortage of labor. As a result, the market growth declined drastically. However, it is anticipated that Humanoids can play a major role in the healthcare sector as well. Companies are coming forward to invest in the development of Humanoid Robots. Furthermore, the rising Humanoid Robots Market Trends will be beneficial for the market.

Market Dynamics

Market Drivers

The growing Humanoid Robots Market Trends in the past few years will promote the market positively. The increasing development of machine learning, declining costs of components used in humanoids and artificial intelligence are driving factors of the Humanoid Robots Market. Along with that, the use of humanoid robots in educational purposes, defense, and military, the market will eventually propel in the upcoming years.  

Restraints

However, some restraining factors will affect the market growth. Some of them are the high costs of investments for the research and development which is essential for the development of humanoid robots.

Opportunities

There use of Humanoids opens new opportunities for aerospace, defense, and military purposes. They will help provide real-time data and maintain appropriate safety levels. Also, the use in the education sector, disaster management, healthcare, etc. will boom the Humanoid Robots Market in the upcoming years.

Challenges

The lack of skilled laborers is a major challenge for the production of Humanoids. Also, the expensive costs of the important components can slow the market growth to a certain rate. Also, the technical problems that can occur in the bipedal motion can slow down the Humanoid Robots Market.

Value Chain Analysis

The growing need for Humanoid Robots Market Components will have a significant rise during the forecast period. Apart from that, the growing deployment of humanoid robots in various fields such as education, military, aerospace, the defense will fuel the market growth during the forecast period. Hence, the value chain of the market will strengthen simultaneously.

Market Segmentations

The segments of the Humanoid Robots Market are divided into motion, components, and application. Based on motion, the market is divided into Wheel Drive and Bipedal.

Based on components, the market is divided into Software and hardware. The Hardware sub-segment is divided into Power Source, Sensor, Actuator, and Control System.

Based on application, the market is divided into Caregiving and Personal Assistance, Entertainment and Education, Public Relations, Research, and Space Exploration, and Rescue and Search.

Regional Analysis

The Humanoid Robots Market Size is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The report suggests that the Asia-Pacific region will dominate the market with the largest share. Countries such as Japan, China, and India have a huge demand for Humanoids. This will further boost the market exponentially. Also, the presence of several key players in these countries will promote the Humanoid Robots Market Growth.

Furthermore, Europe will also play a considerable growth in fulfilling the market demands. Due to factors such as technological advancements such artificial intelligence is propelling market growth in the forecast period.

Competitive Landscape

The key players use strategies such as acquisitions, mergers, product launches, mergers, collaborations, etc. These are some important key players in the Humanoid Robots Market-

• Samsung Electronics (South Korea)


• DST Robot Co. Ltd. (South Korea)


• Qihan Technology Co.(China)


• Kawada Robotics Japan)


• Toshiba (Japan)


• Robo Garage Co. (Japan)


• Honda Motor Co. Ltd. (Japan)


• Engineered Arts (UK)


• Instituto Italiano Di Technologia (Italy)


• WowWee Group (Hong Kong)


• Toyota Motor Corporation (Japan)


• ROBOTIS (Republic of Korea)


• Ubtech Robotics (US)


• Pal Robotics (Spain)


• SoftBank Corporation (Japan)


• Hanson Robotics (Hong Kong)

Recent Developments

• The Indian Space research Organisation (ISRO) in January 2020 announced the launch of a semi-humanoid robot named “Vyommitra" in outer space. The humanoid doesn't need to wear a spacesuit and will send signals for warning as per the changes that occur in the cabin environment.


• Hitachi in March 2020 announced the launch of an EMIEW (Excellent Mobility and Interactive Existence as Workmate. It is a communication robot that is designed specifically for hospitals, care facilities, and offices.


• UBTECH Robotics in October 2019 announced the development of “Holiday 2019” a line-up of robot building kits for children.


• EU Horizon2020 SecondHands in 2020 announced its new platform for humanoid called ARMAR-6. This humanoid is designed for working in warehouses, and factories. It is capable to hold a ladder, lift heavy objects, pass tools, etc.

Report Overview

The report overview of the Humanoid Robots Market is as follows-  

• Market Overview


• COVID-19 Analysis


• Dynamics of the Market


• Value Chain Analysis


• Market Segmentation


• Regional Analysis


• Competitive Analysis


• Recent Development

Report Score and Segmentation

• Study Period- 2020-2027


• Base Year-2019


• Forecast Period- 2020-2027


• Historical Period-2017-2018

The report score is to highlight the potential of Humanoid Robots in the upcoming period. The report highlights drivers, market values, opportunities, key players, and recent developments. Apart from that, the information collected in this report is gathered from secondary and primary sources.

Market Segmentation

• Wheel Drive


• Bipedal

• Software


• Hardware


• Power Source


• Sensor


• Actuator


• Control System

• Caregiving and Personal Assistance


• Entertainment and Education


• Public Relations


• Research and Space Exploration


• Rescue and Search

• Wheel Drive


• Bipedal

• North America


• Latin America


• Europe


• Asia-Pacific


• The Middle East and Africa