What Is The Projected Size and Growth Rate for the Humanoid Robot Market?
The humanoid robot market has seen substantial growth in recent years, from $3.68 billion in 2024 to an expected $5.6 billion in 2025. The CAGR for this period is anticipated to be an outstanding 52.1%. The growth can be attributed to the escalating labor costs, rising interest in automation, heightened demand for efficiency, expansion of the manufacturing industry, and the globalization of supply chains.
Even more significantly, this market is forecasted to skyrocket in size to $30.03 billion by 2029, indicating a CAGR of 52.2%. Key factors contributing to this impressive growth forecast include the expanding applications in healthcare, the rising demand for personal assistance robots, evolving consumer preferences, increased funding in robotics research, and demand for collaborative robots.
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What are the Key Drivers of the Humanoid Robot Market?
Robotic humanoid robots’ rising demand in the medical sector is driving the humanoid robot market forward. These robots’ unique attributes – improved efficiency, personal care management, and heightened diagnostic accuracy – make them an attractive solution in the medical industry. According to records from the Private Healthcare Information Network, the UK saw 48,000 robotically-assisted procedures within the first three quarters of 2023, reflecting the rising demand for humanoid robot services in the medical sector.
What Are The Major Segments To Monitor Within the Global Humanoid Robot Market?
1) By Component: Hardware, Software, Services
2) By Motion Type: Biped, Wheel Drive
3) By Application: Education And Entertainment, Research And Space Exploration, Personal Assistance And Caregiving, Search And Rescue, Public Relations, Other Applications
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What Main Players Operate in the Humanoid Robot Market?
Prominent companies contributing to the dynamic humanoid robot market include Toyota Motor Corporation, Samsung Electronics Co. Ltd., Honda Motor Co. Ltd., SoftBank Corp., Toshiba Corporation, KUKA Robotics Corp, Instituto Italiano Di Technologia, Ubtech Robotics Corp. Ltd., HYULIM Robot Co. Ltd., ZMP Inc., Cyberdyne Inc., Agility Robotics Inc, WowWee Group Limited, Apptronik Inc., Pal Robotics S.L., Shadow Robot Company Ltd., F&P Robotics AG, Engineered Arts Limited, Beyond Imagination Inc, Macco Tecnologia Para el Ocio Sociedad Limitada, Trossen Robotics LLC, Hanson Robotics Limited, Furhat Robotics AB, Universal Robots Inc., Robo Garage.Co.Ltd., KAWADA Robotics Corporation, Figure AI, 1X Technologies AS, Intuitive Robots, Qihan Technology Co. Ltd.
What Are The Emerging Trends in the Humanoid Robot Market?
Embracing technological advancements is a significant trend in the humanoid robot market. Case in point, Xiaomi’s recent launch of their new CyberOne humanoid robot, which offers advanced features including a full-sized humanoid frame powered by AI and Mi-Sense depth vision technology which can process each individual’s gestures, expressions, and reactions.
Which Region Is The Fastest Growing in the Humanoid Robot Market?
In 2024, North America held the largest share of the humanoid robot market, while the Asia-Pacific region is the one to watch for the fastest growth rates. Other regions analyzed in the humanoid robot market report include Western Europe, Eastern Europe, South America, Middle East, and Africa.
What is the Humanoid Robot Global Market Report 2024 Offering?
The Humanoid Robot Global Market Report 2024 from The Business Research Company provides insights into the global market size, opportunities, competitor analysis, detailed segments, trends, and growth rate. Humanoid robots are designed to mimic human characteristics, behaviors, and capabilities while performing tasks within human environments.
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