Humanoid Robot Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Component (Software, Hardware, Sensor, Control System, Actuator, Others), By Type (Wheel Drive, Biped), By Application (Education, Entertainment, Research And Space Exploration, Medical, Others), And By Geography - Forecasts From 2019 To 2024

Published:  May 2021 Report Code: KSI061611152 Pages: 125

Humanoid Robot Market is projected to witness a CAGR of 46.05% during the forecast period to reach a total market size of US$4.143 billion by 2023, increasing from US$0.624 billion in 2018.

The expanding applications of humanoids are the major factor driving this market growth. For instance, there is a growing demand for humanoid robots in the retail industry for personal assistants. Likewise, there is a going trend of using humanoids for medical training; such initiatives augment the market growth. In addition to this, the rapidly aging population, as well as the increasing number of rehabilitation centers, drive the demand for humanoid as it can provide a helping hand to elderly people. Other drivers include rising spending power, high-speed innovations, and the rising trend of autonomous rescue operations. However, high initial cost restraints its adoption and thereby hampers its market growth.

By Application

By Application, the education segment is expecting considerable growth over the projected period. The rapid modernisation of the educational system across the world and a growing number of educational institute drives the segment growth. Likewise, the medical sector is also expected to grow at a good rate owing to rising healthcare expenditure. Research and space exploration accounted for a high market share in 2016.   

By Geography

Geographically, North America accounted for the highest market share in 2016 and is also expected to hold a notable position by the end of the forecasted period. The large-scale adoption of humanoid robots for various applications is a major factor driving this market growth. The presence of many major players in the United States further contributes to the high market share. APAC region is expected to grow at a high rate over the projected period. The demand generated by the rapidly ageing population in China and Japan drives the regional market growth. Continuous R&D and innovation further contribute to regional growth.  

Competitive Insight

The global Humanoid robot market is considerably competitive; however, the market is dominated by a few major players owing to their prior experience. The major players discussed in the report include Engineered Arts Limited, National Aeronautics and Space Administration, Samsung Electronics, Istituto Italiano di Tecnologia, Honda Robots, Robotics Lab, and Robo Garage Co. Ltd.

Humanoid Robot Market Scope:

Report Metric Details
 Market size value in 2018  US$0.624 billion
 Market size value in 2023  US$4.143 billion
 Growth Rate  CAGR of 46.05% from 2018 to 2023
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Billion
 Segments covered  Component, Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Engineered Arts Limited, National Aeronautics and Space Administration, Samsung Electronics, Istituto Italiano di Tecnologia, Honda Robots, Robotics Lab, Robo Garage Co. Ltd. 
 Customization scope  Free report customization with purchase

Segmentation

Thirdly, the Humanoid robot market has been segmented by component, type, application, and geography.  

By Component

Software

Hardware

Sensor

Control System

Actuator

Others

 

By Type

Wheel Drive

Biped

 

By Application

Education

Entertainment

Research and Space exploration

Medical

Others

 

By Geography

North America

South America

Europe

MEA

Asia Pacific


Frequently Asked Questions (FAQs)

Q1. What will be the humanoid robot market size by 2023?
A1. The humanoid robot market is projected to reach a total market size of US$4.143 billion by 2023.


Q2. What is the size of the global humanoid robot market?
A2. Humanoid Robot Market was valued at US$0.624 billion in 2018.


Q3. What are the growth prospects for the humanoid robot market?
A3. The global humanoid robot market is projected to witness a CAGR of 46.05% during the forecast period.


Q4. What factors are anticipated to drive the humanoid robot market growth?
A4. The expanding applications of humanoids are the major factor driving the humanoid robot market growth.


Q5. Which region holds the largest market share in the humanoid robot market?
A5. Geographically, North America is expected to hold a notable share in the humanoid robot market.

1. Introduction
1.1. Market Definition
1.2. Scope of the Study
1.3. Currency
1.4. Assumptions
1.5. Base, and Forecast Years Timeline
2. Research Methodology
2.1. Research Design
2.2. Secondary Sources
2.3. Validation
3. Key Findings Of The Study
4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Opportunities and Market Trends
4.4. Market Segmentation
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Technology 
4.7. Industry Regulations
4.8. Industry Value Chain Analysis
5. Global Humanoid robot market Forecast By Component (US$ billion)
5.1. Introduction
5.2. Software
5.3. Hardware
5.3.1. Sensor
5.3.2. Control System
5.3.3. Actuator 
5.3.4. Others 
6. Global Humanoid robot market Forecast By Type (US$ billion)
6.1. Introduction
6.2. Wheel Drive
6.3. Biped
7. Global Humanoid robot market Forecast By Application (US$ billion)
7.1. Introduction
7.2. Education
7.3. Entertainment
7.4. Research and Space exploration
7.5. Medical 
7.6. Others 
8. Global Humanoid robot market Forecast By Geography (US$ billion)
8.1. North America
8.2. South America
8.3. Europe
8.4. MEA
8.5. Asia Pacific
9. Competitive intelligence
9.1. Market Share Analysis
9.2. Strategies of Key Players
9.3. Recent Investments And Deals
10. Company profiles
10.1. Engineered Arts Limited
10.1.1. Overview
10.1.2. Financials
10.1.3. Products and Services
10.1.4. Key Developments
10.2. National Aeronautics and Space Administration
10.2.1. Overview
10.2.2. Financials
10.2.3. Products and Services
10.2.4. Key Developments
10.3. Samsung Electronics 
10.3.1. Overview
10.3.2. Financials
10.3.3. Products and Services
10.3.4. Key Developments
10.4. Istituto Italiano di Tecnologia
10.4.1. Overview
10.4.2. Financials
10.4.3. Products and Services
10.4.4. Key Developments
10.5. Honda Robots 
10.5.1. Overview
10.5.2. Financials
10.5.3. Products and Services
10.5.4. Key Developments
10.6. Robotics Lab
10.6.1. Overview
10.6.2. Financials
10.6.3. Products and Services
10.6.4. Key Developments
10.7. Robo Garage Co. Ltd. 
10.7.1. Overview
10.7.2. Financials
10.7.3. Products and Services
10.7.4. Key Developments
Engineered Arts Limited
National Aeronautics and Space Administration
Samsung Electronics 
Istituto Italiano di Tecnologia
Honda Robots 
Robotics Lab
Robo Garage Co. Ltd. 

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