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Humanoid Robots Market

Market Overview

Since living on the planet is turning into a health hazard due to constant exposure to pollutants, epidemics, and climate change, the need for an A.I. based assistant, has risen. The humanoid robot market has seen a surge, especially after the COVID-19 crisis, where more automated robots are being used for medical support.

Humanoid Robot Industry is modern artificial intelligence. A technology that resembles the human body. It is programmed to take orders and communicate in accordance with human emotions. With the advancement of futuristic features, these humanoid robots will work independently with less human interaction and more remote viewing and control.

It has been estimated that the size of this futuristic market will increase from USD 202.2 million in 2016 to USD 3, 962.5 million in 2023. The CAGR rate is set to a record of 52.1% from 2017 to 2023.

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Market Segmentation

The market segmentation for humanoid robots is vast. It is spread in medical support, educational research, space technology, automation, and the service industry. Kawada Robotics has designed Nextstage robots for an industrial setting, these robot’s function alongside workers in large industrial units. While there has been an increasing demand for humanoid robots in the smart home industry, contemporary homeowners want to enjoy the luxurious services of this A.I. intelligence for manual housekeeping tasks.

SoftBank Robotics has designed an easy-to-use robotic nanny called Pepper to inspire young minds. Children can now program this humanoid robot to read, talk, illustrate messages and show basic emotions while performing tasks. NASA and other world space organizations are working closely with scientists to create robots that can withstand harsh conditions in space and carry out unmanned expeditions to gather data from other planets.

Humanoid robots are also being developed to combat future wars and conduct dangerous military missions to reduce the loss of human soldiers. They are also being used in medical science as caregivers for terminally ill patients and assist doctors working long hours during the pandemic. Soon, they will replace entertainment venues like being a pub bartender and acting on cinema screens.

Manufacturing units have also been considering using driverless cars with A.I. managed robots to carry out the shipment of goods. Supply chains were affected by the lack of human power when the pandemic was raging. Thus giving rise to more remotely based controlled automatic robotic delivery system that could perform manual tasks.

The humanoid market is further divided into biped and wheel drive motion integrated robots. Biped robots that can imitate human walking are in high demand; manufacturers are focusing on incorporating A.I. robots with accurate human characteristics to make them more user-friendly in the future.

Regional Classification

Developing countries in the Asia-Pacific region are seeing increased humanoid aid to the elderly. Countries such as China and Japan are leaders in supporting the delivery of humanoid robotic care. Europe and the United States are taking medical research and application assistance. The Middle East and Africa countries have yet to catch up with this increasing trend.

The key companies dominating the A.I. markets are ROBOTIS – South Korea, KAWADA ROBOTICS – Japan, Toyota Motor – Japan, Robotics Lab – Spain, and National Aeronautics and Space Application – US.

Industry News

Humanoid robots will be seen in every spectrum of human life in the not-too-distant future, from operating on basic labour to remotely complex tasks of performing a surgery. The rise of automated technology and the prospect of humans living lives without tragedy will mark this integrating artificial intelligence amongst nations.

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