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Humanoid Robot Market Size, Market Status and Future Forecasts to 2031

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Considering the growing advancements and inventions in the robotic industry, it is obvious that the world is going to witness a significant increase in the number of robots over the next decade. And among these, Humanoid Robots are seen to be the most demanding and trending of the other robots. These robots are developed with human characteristics and hence they greatly resemble humans in both behavior and appearance.

As per the Boston Consulting Group, robots are expected to carry out around 25% of all labor tasks by 2025. This is attributed to the growing developments, improvements in performance, and drop in the prices of robots. The U.S., along with South Korea, Japan, Canada, and the UK will be at the forefront of adopting robots. The major sectors that are expected to lead the charge are computer & electronic devices; electrical appliances and equipment; transportation equipment; and machinery. These industries will give a satisfactory record of nearly 75% of all robotic installations in the near future.

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Why is the humanoid robot market growing?

The considerable growth in the advancements of robots is giving a boost to consumer engagement & experience, which is in turn leading to the growth in demand for robots all across the globe. Today, humanoid robots are seen performing various tasks across different industry verticals. From personal assistance in daily life to industry-centric jobs, these robots are completely nailing their duties. Besides, rising consumer knowledge and awareness about technical advancements in humanoid robots is increasing the acceptance of these robots by production companies for reducing the labor costs and improving productivity. All these aforementioned factors greatly contribute to the growth of the humanoid robot market.

Moreover, accelerated growth in the technical developments for the production of more competent and cost-effective robots is expected to make way for forwarding growth opportunities in the global humanoid robot market. Nowadays, these robots have also proved useful in areas such as military & defense.In these areas, they are used for providing battlefield intelligence, which keeps the army informed about the movements of enemies. All these applications and uses of humanoid robots are sure to fuel the growth of the humanoid robots industry in the coming years.

Recent highlights of the humanoid robot’s industry

Humanoid robots have the utmost potential to become the industrial tool of the future. Various companies are greatly investing in the research & development of human-like robots. For instance, Softbank Robotics, a worldwide leader in robotics solutions have developed human-like robots that can be used as teaching aids and medical assistance. At present, humanoid robots are gaining much popularity in the healthcare sector, particularly as companion robots.

Since 2014, Professor Maja Matari? from University of Southern California has been pairing robots with patients. Her robots helped children with autism and in 2015, the robots aided stroke recovery victims with upper extremity exercises. The patients show improves responses to the exercises when encouraged and promoted by these robot.

In the past, Joint Robotics Laboratory has developed the HRP-2 and HRP-4 robot models with a novel robotic locomotive technology called multi-contact locomotion. This robot models were able to use their entire body for moving from one place to the other, and not just their feet.They are able to climb ladders and enter narrowplaces.

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Future scope of the humanoid robots industry

The robotic industry has witnesses groundbreaking inventions in the recent years and many more are yet to arrive. According to a report by research dive, the humanoid robots industry  is expected to grow at a striking growth rate of 36.4% by 2031. Several manufacturers such as HYULIM Robot Co., Ltd, HANSON ROBOTICS LTD, Engineered Arts Limited, Honda, KAWADA Robotics Corporation, and many more are playing significant roles in the growth of this industry. Taking all this into account, it is clear that the humanoid robots industry is on the verge of gaining heights in the upcoming years.

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