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Humanoid Robot Market size worth $ 26401.4 Million, Globally, by 2028 at 52.53% CAGR: Verified Market Research®

JERSEY CITY, N.J., Nov. 1, 2021 -- Verified Market Research recently published a report, "Humanoid Robot Market" By Motion Type (Wheel Drive and Biped), By Component (Software and Hardware), By Application (Research & Space Exploration, Public Relations, Search and Rescue) and By Geography. According to Verified Market Research, the Global Humanoid Robot Market size was valued at USD 903.5 Million in 2020 and is projected to reach USD 26401.4 Million by 2028, growing at a CAGR of 52.53 % from 2021 to 2028.

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Global Humanoid Robot Market Overview

Increased use of humanoid robots for security and surveillance applications such as detection of unauthorized intrusion, terror activities and enhanced use of AI robots in the hazardous environment as well as research and space exploration enabling connectivity from a remote distance are primary factors that are driving the humanoid robot market growth. Furthermore, the rapid development of advanced robots to increase customer interaction and experience, as well as rising demand for robots in retail applications, are some of another market drivers for humanoid robots.

Humanoid robots are employed in commercial or retail outlets to provide customers, demonstrate Components, and help to gather customer data effectively such as phone numbers, zip codes, email addresses, and service feedbacks. Government expenditures in R&D and the deployment of humanoid robots in educational institutions to impart teachings result in a transformation to efficient infrastructure, which can help to open new doors for the humanoid robot sector. In addition to this, the market is expected to increase due to the rising demand for humanoid robots for personal support in everyday life. The high initial cost of robots, as well as the significant investments needed for R&D activities, are significant restraints for the growth of the humanoid robot market.

Furthermore, the lack of high-level infrastructure required for the development and manufacturing of humanoid robots is expected to limit market growth. Nevertheless, new Component launches can create a lucrative growth opportunity for the market. Key market participants are interacting with their customers to understand needs and develop efficient solutions. NASA and other space organisations use advanced humanoid robots to perform space research on non-terrestrial planets for a variety of objectives, including close-up photography of planets and determining whether or not they can support life.

Key Players

The major players in the market are SoftBank (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), and Toyota Motor (Japan).

Verified Market Research has segmented the Global Humanoid Robot Market On the basis of Motion Type, Component, Application, and Geography.

  • Humanoid Robot Market, By Motion Type
    • Wheel Drive
    • Biped
  • Humanoid Robot Market, By Application
    • Research & Space Exploration
    • Education and Entertainment
    • Personal Assistance and Caregiving
    • Public Relations
    • Search and Rescue
    • Others
  • Humanoid Robot Market, By Component
    • Software
    • Hardware
      • Control System
      • Actuator
      • Sensor
      • Power Source
      • Others
  • Humanoid Robot Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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