Global Humanoid Robot Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Using humanoid robots opens new opportunities for military, aerospace, and defense in delivering real-time data and carrying appropriate safety levels

• A humanoid robot is a professional service robot that not only resembles a human’s physical characteristics, especially one head, a torso, two arms, and two legs along with a face, eyes, and mouth but also has the capability to communicate with humans and other robots, interprets information, and executes certain tasks based on the user’s input. It is fully automatic because it can adapt to its environment and keep pursuing its goals. Sensors and motors are features of robots that mimic humans. Usually, these machines have specific tasks pre-programmed into them.
• The worldwide market for humanoid robots is primarily driven by the quick development of autonomous technologies to enhance consumer interaction and experience as well as the rising demand for retail robots. The development of humanoid robots with more sophisticated features, the expansion of the use of humanoids as teaching aids, and the rising demand for humanoid robots from the healthcare industry to improve patient outcomes, increase efficiency, and reduce costs. These are all factors contributing to the market's expansion. Other applications include guiding, engaging with clients, and being a companion for the elderly and sick. Modern robots are fully autonomous systems that can function and make decisions without the help of a person. Robot manufacturing companies are increasingly adopting intellectual property (IP) systems as more players enter the robotics ecosystem and focus on creating more sophisticated robots to defend their interests. Due to such advantages, the demand for Humanoid in various industries is increasing.
• Moreover, with the advancements in artificial intelligence (AI), humanoid robots are finding increasing applications in customer engagement roles. These robots possess advanced capabilities such as facial recognition, speech recognition, and emotion recognition, and are being used alongside the growing use of smartphones, social media, and the web as primary customer engagement channels. For instance, Misty Robotics has taken this a step further with the development of Misty II, a robot that not only sees and talks but also has the ability to smell and touch. This robot has been designed with a wide range of features such as facial recognition, voice recognition, capacitive touch, path planning, spatial mapping, and environmental sensors. Equipped with a 3D and 4K camera, two Qualcomm chips, and a wide-angle fisheye lens, Misty II operates on Microsoft Windows IoT Core. The company aims to turn Misty II into a genuine personal robot that can perform tasks such as cleaning and cooking, as part of its ten-year plan.
• However, the higher initial cost of developing humanoid robots is also due to the fact that they are still a relatively new technology, and the development process is still evolving. There are ongoing challenges in the areas of power consumption, control systems, and artificial intelligence that need to be addressed to make humanoid robots more practical and affordable for widespread use, these factors will hamper the market growth.

Market Segmentations

• The Global Humanoid Robot Market is segmented based on Component, Motion Type, applications, and Geography.
• By Component, the market is classified into Hardware and Software. The Hardware segment is further classified into Sensors, Actuators, Power Sources, and Controllers.
• The Hardware segment is predicted to hold the largest market share in upcoming years. They add major value to humanoid robots, making them look like humans. From Hardware, the Control system is one of the significant parts of a humanoid is its ability to receive sensory information, process it, and send commands to its actuators based on the output of its decision-making process.
• By Motion Type, the market is classified into Biped and Wheel Drive.
• The Wheel Drive segment is predicted largest market share and grow with the highest CAGR. It is possible to control the simple-to-design wheel-drive robots to move around their surroundings. Wheel-type robot demand is anticipated to rise in military applications due to its many advantages. Wheel-drive humanoid robots are also used at scientific fairs and amusement parks.
• By, applications, the market is classified into Education, Entertainment & Hospitality, Personal Assistance & Caregiving, Scientific Research & Space Exploration, Security & Surveillance, and Others. Other included Healthcare, Public Relations, etc.
• The Personal Assistance & Caregiving segment is expected to dominate the market growth. It provides patients with personal care at home and in hospitals. Without human assistance, they can readily monitor patients and provide necessary services. These humanoid robots are also programmed to perform daily routine tasks usually performed by caregivers, such as administering medications, monitoring vital signs, and aiding feeding, in an emergency. As a result, these devices are used more frequently, increasing their value. These robots will soon be capable of carrying out other essential medical procedures without endangering the lives of human healthcare workers.
• By Geography, the market is classified into the Americas, Europe, Middle-East, and Asia-Pacific.
• The Asia-Pacific region is expected to grow with the highest CAGR in the forecast period. Countries such as Japan, South Korea, and China are significantly contributing to its large share. The region has been witnessing demand for humanoid in the Aviation industry. along with increasing investments in the aviation sector. For instance, Air India is almost set to purchase up to 500 aircraft in 2022 from both Boeing and Airbus.

Recent Development

• The EU Horizon2020 SecondHands consortium announced its ARMAR-6 humanoid platform after five years of development. The robot is designed to help workers in spaces designed for humans in factories and warehouses. - May 2020
• SoftBank Robotics signed a partnership agreement with Keenon Robotics to widen the applications of robotics systems in the service industry. - September 2021

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, and the Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Humanoid Robot Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Humanoid Robot Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position influence on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Humanoid Robot Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market