Humanoid Robot Market Size, Share, And Growth Report 2032

Humanoid Robot Market: Size

The global Humanoid Robot market size was worth around USD 1.89 billion in 2023 and is predicted to grow to around USD 111.98 billion by 2032 with a compound annual growth rate (CAGR) of roughly 50.4% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Humanoid Robot market on a global and regional level.

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Humanoid Robot Market: Overview

A humanoid robot is designed for various functions and resembles the human body form. These products find applications in myriad scientific domains.  Researchers are studying the structure of the human body as well as their behavior for developing humanoid robots. The physical or outer appearance of humanoid robots is the same as human beings and these products have two artificial legs, two artificial arms, and a head. It is embedded with technology facilitating self-learning and self-maintenance.

Humanoid Robot Market: Growth Dynamics

Massive product penetration in the entertainment industry, automotive production, scientific research activities, and education sector will prompt the humanoid robot industry. In addition to this, escalating acceptance of humanoid robots in aerospace, aviation, and retail sectors will prop up the expansion of the humanoid robot industry. Apparently, the use of robots as assistants in the medical sector and space programs will boost industry growth over the assessment period.

Furthermore, rapidly changing dynamics in manufacturing & industrial sectors will propel the expansion of the humanoid robot industry in the years ahead. With humanoid robots used in performing engineering tasks requiring less human involvement, the market for the humanoid robot is anticipated to witness escalating surge over the ensuing years. The need for avoiding the use of manpower for carrying out hazardous tasks and the necessity for saving labor costs in repetitive tasks requiring huge strength will prompt the expansion of the humanoid robot market in the years ahead. In addition to this, the requirement to perform operations in an accurate manner will create lucrative growth avenues for the humanoid robot industry in the years ahead. Nonetheless, huge product costs & massive requirements of funding necessary for research activities are predicted to pose a challenge to the expansion of the humanoid robot industry in the ensuing years.

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Humanoid Robot Market: Segmentation

The global humanoid robot market is bifurcated on the basis of the application, component, motion type, and regional analysis.

Based on the component, the market is divided into hardware and software. The hardware segment is subdivided into actuator, sensor, control system, power source, and others.

Based on the motion type, the market is divided into wheel drive and biped.

Based on the application, the market is divided into search & rescue, research & space exploration, education & entertainment, personal assistance & caregiving, public relations, and others.

Humanoid Robot Market: Report Scope

Humanoid Robot Market: Regional Analysis

North America To Account Sizably Towards Overall Market Size By 2032

The expansion of the humanoid robot industry in North America over the forecast timespan is due to the use of humanoid robots in defense, government, military robot, and retail industries in the countries such as the U.S. Apart from this, rising labor charges and less availability of workforce for carrying out primary tasks in hospitality, retail, and construction sectors will prompt up the regional market growth in the ensuing years. In addition to this, the surge in government expenditure for enhancing military activities and expanding public infrastructure amenities will propel the scope of the business in the years ahead.

Humanoid Robot Market: Competitive Players

Key participants profiled in the study include:

• Kawada
• Honda
• Engineered Arts
• Willow Garage
• DST Robot
• Toshiba
• Hanson Robotics
• Trossen Robotics
• Hajime Research Institute
• Qihan Technology
• Softbank Robotics
• Robotis
• Ubtech Robotics Inc.

The global humanoid robot market is segmented as follows:

By component:

• Hardware
  • Power Source
  • Sensor
  • Actuator
  • Control System
  • Others
• Software

By motion type:

• Wheel Drive
• Biped

By application:

• Personal Assistance & Caregiving
• Education & Entertainment
• Research & Space Exploration
• Search & Rescue
• Public Relations
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa