[8-Nov-2019] Nowadays, the demand for humanoid robot is ever increasing with the aging of population and declining birth rates. The humanoid robots have become the best substitute as technologies related to humanoid robots are increasing and developing along with each passing year and also expected to improve in the forthcoming years.
Robotic industry is witnessing a significant surge in past few years and the growth is not expected to cease anytime soon. Robots are taking over humans for performing critical and monotonous tasks and offer exceptional productivity and repeatability. Out of several forms and types of robots, humanoid robots have always created interest and are now playing a vital role across several end-use applications. Various factors such as rising adoption of humanoid robots in retail industry for personal assistance, increasing use of robot in education and research purposes, and significant technological advancement in the robotics are driving the growth of the humanoid robot market across the globe. In addition, rapidly ageing population as well as increasing number of rehabilitation centers are further augmenting the growth of the humanoid robot market as it can provide a helping hand to elderly people.
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Software Dominate the Humanoid Robot Market in 2019
Based on components, humanoid robot market is classified into hardware and software. Software commanded the largest share in the humanoid robot market in 2018. Owing to extensive adoption of artificial intelligence algorithms in humanoid robots to boost robot’s performance, software segment is expected to retain its dominance throughout the forecast period.
Biped Motion Type Dominate the Humanoid Robot Market in 2019
Biped motion type commanded the largest share of the humanoid robot market in 2018. The share of this segment is mainly attributed to rising demand of biped robots as they are capable of walking on the feet like humans. In addition, the advancement in technology has made humanoid robots more stable with the precise movements, leading to its high demand from almost every application.
North America Dominates the Market, While APAC Leads the Growth
North America commanded the largest share of the humanoid robot market in 2018, followed by Europe and Asia-Pacific. The major share of this region is mainly attributed to the rising adoption of humanoids for all the major applications such as public relation, personal assistance and caregiving, and education and entertainment. However, Asia Pacific region is expected to register the fastest CAGR during the forecast period owing to growing geriatric population in major economies such as China, India, and Japan.
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Analysis of Humanoid Robot Market Segments
The global humanoid robot market is mainly segmented into by motion type (biped, wheel drive), component (hardware, software), application (education and entertainment, research & space exploration, personal assistance, and caregiving, search and rescue, public relations), and geography.
Based on motion type, the humanoid robot market is segmented into biped and wheel drive. Biped motion type commanded the largest share of the humanoid robot market in 2018. The share of this segment is mainly attributed to rising demand for biped robots as they are capable of walking on the feet like humans. In addition, the advancement in technology has made humanoid robots more stable with the precise movements which have a high demand from almost every application.
Based on component, the humanoid robot market is segmented into software and hardware. Software commanded the largest share of the humanoid robot market in 2018, owing to increasing adoption of artificial intelligence algorithms in humanoid robots to boost robot’s performance.
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Humanoid Robot Market Key players
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 5 years (2015-2019). The key players operating in the global humanoid robot market are SoftBank Corp. (France), Kawada Robotics Corporation (Japan), Honda Motor Co., Ltd (Japan), PAL Robotics (Spain), Toyota Motor Corporation (Japan), Hajime Research Institute, Ltd. (Japan), Robotis (South Korea), Hanson Robotics LTD. (Hong Kong), Ubtech Robotics, Inc. (China), DST Robot Co., Ltd. (South Korea), Engineered Arts Ltd (U.K.), Robotlab Inc. (U.S.), Qihan Technology Co., Ltd. (China), Trossen Robotics (U.S.), and Willow Garage (U.S.).
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