The humanoid robot market size is valued at USD 1.8 billion in 2023 and is anticipated to be USD 13.8 billion by 2028; growing at a CAGR of 50.2% from 2023 to 2028. The key factors contributing to the growth of the humanoid robot market include the increasing use of humanoids as educational robots and the surging demand for humanoid robots from the retail and household as personal assistance.

Education and entertainment application segment witnessed the highest growth during the forecast period.

The humanoid robot market for the education and entertainment application segment is expected to grow at the highest CAGR during the forecast period. The growing use of technology in education is fueling the deployment of humanoid robots in schools and driving the market's growth for the education and entertainment application segment. Humanoid robots have become popular as interactive and engaging toys, offering children and enthusiasts a unique and futuristic play experience. They can perform entertaining dances, play games, and even respond to voice commands, providing hours of fun and amusement. Additionally, these robots serve as companions, offering emotional support and interactive experiences for individuals seeking companionship. By blending entertainment and functionality, humanoid robots are revolutionizing how we interact and engage with technology in various sectors.



Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99567653



Biped humanoid robots hold the largest market share during the forecast period.

The growing adoption of biped humanoid robots in applications such as personal assistance and caregiving, public relations, and education and entertainment is expected to drive the market growth for the biped motion type segment during the forecast period. Biped robots, such as Honda (Japan) ASIMO and Boston Dynamics (US) Atlas, have significantly contributed to the field of robotics, showcasing advanced mobility and human-like dexterity. With its exceptional agility and movement capabilities, Honda's ASIMO has garnered industry attention. Similarly, Boston Dynamics' Atlas, known for its balance and agility, can easily navigate challenging terrains. SoftBank Robotics' (Japan) NAO, a small biped robot primarily designed for educational and research purposes, has also played a vital role in advancing the field. These diverse biped robots, along with others like Toyota's (Japan) T-HR3 and the HRP series developed by AIST (Japan), have collectively pushed the boundaries of robotics and opened up new possibilities for the future.

Hardware is expected to hold the largest market share during the forecast period.

The hardware includes sensors, actuators, power sources, control systems, and others (body materials and electronic, electrical, and mechanical components, which work together to perform a specific task). The hardware components add significant value to the humanoid robots by giving them a human-like appearance. The combination of hardware elements in humanoid robots enables the seamless integration of advanced technologies, enabling them to closely resemble humans and perform tasks across diverse industries, including healthcare, entertainment, research, and education.

Asia Pacific to grow at the fastest CAGR during the forecast period.

The Asia Pacific region is expected to grow at the fastest CAGR in the humanoid robot market during the forecast period. The increasing aging population in countries such as China and Japan will likely increase the deployment of humanoids for caregiving and personal assistance in the coming years in the Asia Pacific. Large and established humanoid robot manufacturing companies that have made significant investments in R&D to gain a competitive edge also support the regional market’s growth. SoftBank Robotics (Japan), ROBOTIS INC (South Korea), KAWADA ROBOTICS CORPORATION (Japan), Honda Motor Co., Ltd. (Japan), and UBTECH Robotics Corp. Ltd. (China) are the major players in this market.

SoftBank Robotics (Japan), Honda Motor Co., Ltd. (Japan), Toyota Motor Corporation (Japan), ROBOTIS (South Korea), KAWADA ROBOTICS CORPORATION (Japan), UBTECH Robotics Corp. Ltd. (China), HANSON ROBOTICS LTD. (Hong Kong), PAL Robotics (Spain), HYULIM Robot Co., Ltd (South Korea), Hajime Research Institute, Ltd. (Japan), Engineered Arts Limited (UK), National Aeronautics and Space Administration (NASA) (US), ROBO GARAGE Co., Ltd. (Japan), Istituto Italiano di Tecnologia (IIT) (Italy), Robotics Lab (Spain), Samsung Electronics Co., Ltd. (South Korea), Promobot Corp.( US), EZ-Robot (Canada), Macco Robotics (Spain), Boston Dynamics (US), Advanced Telecommunications Research Institute International (ATR) (Japan), Wowwee Group limited (Hong Kong), Kindred, Inc. (US), Tesla (US), and Agility Robotics (US) are the major players in humanoid robot market. These players have implemented various strategies to extend their global reach and enhance their market share.



Know more Info @ https://www.marketsandmarkets.com/Market-Reports/humanoid-robot-market-99567653.html

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.



MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.



Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.



The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.



Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.



To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.



Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441