New York, July 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Humanoid Robot Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Motion Type, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06481339/?utm_source=GNW
Therefore, the personal assistance & caregiving segment is expected to capture more than 35% share of the market by 2029. Humanoid robots are expected to become more popular as the population ages quickly in both developed and developing countries. WHO reports that one in six people will be 60 years of age or older by the year 2030. At this point, there will be 1.4 billion people, up from 1 billion in 2020, who are 60 years of age or older. The number of individuals 60 and older worldwide will double (to 2.1 billion) by 2050. Between 2020 and 2050, there will be 426 million more people who are 80 years of age or older than there are today.
The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In September, 2021, Honda Motor Co., Ltd. joined hands with Rakuten to run a trial robot delivery on the campus of the Ibaraki-based Uni. Additionally, the deployment of an automated vehicle built by Honda together with delivery boxes and systems developed by Rakuten. Moreover, In November, 2022, KAWADA Robotics Corp. teamed up with ExaWizards Inc. to solve social issues. Under this collaboration, both companies would develop exaBase Robotics Powder Weighing for NEXTAGE, a humanoid dual-arm robot. With NEXTAGE, the automation, and acceleration of powder weighing operations in the manufacturing sector through “NEXTAGE".
Based on the Analysis presented in the KBV Cardinal matrix; Toyota Motor Corporation is the major forerunner in the Humanoid Robot Market. In August, 2019, Toyota came into partnership with Preferred Networks for advancing useful service robots that could support people in daily life. Companies such as Hanson Robotics Limited, Honda Motor Co. Ltd. and SoftBank Robotics Group (SoftBank Group Corporation) are some of the key innovators in Humanoid Robot Market.
Market Growth Factors
Rising development of humanoids with advanced features
Robotics are in demand and are being used in a variety of applications as a result of technological breakthroughs. Humanoid robots offer the ideal interface for human-robot interactions as they can replicate a person. These are all results of advancing robotics research and ongoing technical development. Artificial intelligence, the creation of robot hardware, the implementation of bipedal or wheel drive locomotion, and human-robot interaction are the four key categories under which humanoid robot research is classified. These commercial developments are anticipated to help the market expansion of humanoid robots.
Highly flexible and mobile
Humanoid robots can move fast in several directions and are incredibly mobile due to their four legs. Thus, humanoids are capable of carrying out a variety of human tasks both at home and at work. The behavior of these robots is intended to resemble that of humans. Accordingly, some robots are ideal for demanding industrial jobs, including deep-sea research, mining, and other heavy industries. In addition to operating machinery and vehicles, humanoid robots are utilized to care for the old and the sick. Numerous industry verticals make extensive use of humanoid robots. The market is anticipated to experience faster expansion as humanoid robot use rises in various key verticals.
Market Restraining Factors
High cost to be spent initially
Educational robots and programmable industrial or service robots are widely available on the market and manufactured with mass-market components. They come at a reasonable price and can handle simple tasks. The cost of research and development necessary to create humanoid robots, on the other hand, rises in direct proportion to the complexity of the jobs that they must perform. In controlled environments like factories and retail stores, robots have proven successful in operating and carrying out tasks. However, there is a growing need for robots to carry out advanced activities due to the growing need for service robots in several industries, including entertainment, education, search & rescue, public relations, logistics, cleaning, and medicine. As a result, the market growth may hinder due to the high initial cost of humanoid robots.
Component Outlook
Based on component, the humanoid robots market is classified into hardware and software. The hardware segment held the highest revenue share in the humanoid robots market in 2022. Humanoid robots can interact with people more effectively due to hardware components. A broader range of activities may be carried out by more complex robots with improved efficiency and accuracy because of developments in robotics engineering, materials science, and control system design. Hardware components, in particular, enhance humanoid robots’ ability to interact with humans.
Application Outlook
By application, the humanoid robot’s market is bifurcated into research & space exploration, education & entertainment, personal assistance & caregiving, hospitality, search & rescue, and others. The hospitality segment garnered a significant revenue share in the humanoid robots market in 2022. The hospitality sector is deploying robots to assist with customer care procedures, from artificial intelligence chatbots to auxiliary robots. Robots in hotels are employed to enhance the standard of guest satisfaction. Ordering has become simpler due to front desk robots. The deployment of robots in hotels and restaurants is advantageous since COVID-19’s effects on the hospitality sector have made it necessary to prevent human-to-human contact and labor shortages.
Motion Type Outlook
By motion type, the humanoid robot’s market is fragmented into biped and wheel drive. In 2022, the wheel drive segment dominated the humanoid robots market with the maximum revenue share. The wheel-drive robots are easy to construct and may be programmed to move with regard to the environment. Compared to two-legged robots, they are less likely to topple over since they can keep their balance on a solid foundation. At theme parks, science fairs, and amusement parks, wheel-drive humanoid robots are often used as entertainment. These elements are anticipated to fuel the demand for humanoid robots in the coming years.
Regional Outlook
Region wise, the humanoid robot’s market is analyzed across North America, Europe, Asia Pacific, LAMEA. In 2022, the North America region led the humanoid robots market by generating the highest revenue share. The development of humanoid robot technology and improved infrastructure is responsible for the market expansion. In North America, there is an increased demand for humanoid robots for teaching and providing care in the healthcare and educational sectors. The government and major businesses are boosting their investments, though, which is also fueling the market’s growth in terms of income.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hajime Research Institute, Ltd., Hanson Robotics Limited, Honda Motor Co. Ltd., HYULIM Robot Co., Ltd., KAWADA Robotics Corporation (Kawada Technologies Co., Ltd.), PAL ROBOTICS, SoftBank Robotics Group (SoftBank Group Corporation), Toshiba Corporation, Toyota Motor Corporation and Trossen Robotics.
Strategies Deployed in Humanoid Robot Market
Apr-2023: SoftBank Robotics Australia entered into a partnership with Sushi Machines, a wholesale distributor of Sushi Machines across Australia. Through this partnership, Sushi Machines Australia would offer tray-delivery robots with other SoftBank Robotics (SBR) solutions that would help alter the food and beverages sector in the direction of smart savvy efficient restaurants.
Dec-2022: Hanson Robotics Limited came into an agreement with The Hong Kong Polytechnic University (PolyU), a Hong Kong, Asia-based University. Under this agreement, Companies would establish the Centre for Humanistic Artificial Intelligence and Robotics (CHAiR) for translational research to boost the welfare of humanity.
Nov-2022: KAWADA Robotics Corp. teamed up with ExaWizards Inc., a company engaged in the development of AI-enabled services to solve social issues. Under this collaboration, both companies would develop exaBase Robotics Powder Weighing for NEXTAGE, a humanoid dual-arm robot. With NEXTAGE, the automation, and acceleration of powder weighing operations in the manufacturing sector through “NEXTAGE".
Oct-2022: SoftBank Robotics America partnered with Gausium, a provider of autonomous cleaning and service robot solutions. The partnership would aim to move indoor automated robotic solutions to the U.S. market. Their products are smart, safe, and simple, allowing customers to easily adopt them into their businesses.
Sep-2021: SoftBank Robotics Europe joined hands with United Robotics Group, an ecosystem of experts and partners. Following this collaboration, United Robotics Group would open a new office in Paris, France to manage and develop new sales, services support, and operate in European countries for Pepper & NAO humanoid robots.
Sep-2021: Honda Motor Co., Ltd. joined hands with Rakuten, a tech company that provides electronic commerce solutions. Through this collaboration, the company aims to run a trial robot delivery on the campus of the Ibaraki-based Uni. Additionally, the deployment of an automated vehicle built by Honda together with delivery boxes and systems developed by Rakuten.
Mar-2021: Hanson Robotics Limited partnered with Immervision Inc., a Provider of provides panoramic imaging technology solutions. Under this partnership, Immervision’s JOYCE, a Humanoid robot to unify the circle of computer vision, would work with Hanson Robotics Limited’s Sophia, a humanoid Robot, to grow and evolve machine perception to help provide human-like vision and beyond.
Sep-2020: SoftBank Robotics collaborated with Bear Robotics, an artificial intelligence and robotics company. Under this partnership, the companies would introduce Servi to the hospitality and food service sectors. Moreover, the Servi robot is a result of the integration of Bear Robotics’ unrivaled robotics technology and vast experience in commercializing and developing SoftBank Robotics.
Nov-2020: SoftBank introduced a new feature: telepresence to its humanoid robot Pepper. This feature is developed to streamline smooth communication among people. In addition, it also consists of the function of teleoperation that allows customers to operate the robot remotely.
May-2020: Hanson Robotics entered into collaboration with CereProc, a Scottish company, based in Edinburgh. This collaboration aimed to enable Hanson Robotics to make live human-like expressive performances from its robots.
Dec-2019: Toshiba Machine Co. announced the launch of THE600 SCARA robot, the humanoid collaborative robot. The launched product was created on the features of the available THE400 SCARA robot, accelerating double the speed and 60 percent larger payload capacity than competing SCARA models in a similar price range.
Dec-2019: Toyota Motor Corp. introduced the T-HR3 robot, an expanded version of its human-shaped. The product is managed remotely by an individual wearing a headset and wiring on his or her arms and hands, with faster and smoother finger movements as the controlling device is low-weight and simple to use.
Nov-2019: Hanson Robotics Limited came into partnership with Patrick Tresset, a developer of theatrical installations with robotic agents as actors. This partnership would allow Sophia the Robot to create human portraits through her AI software and specially calibrated aluminium arms.
Aug-2019: Toyota came into partnership with Preferred Networks, a Japan-based company with a focus on deep learning and artificial intelligence. Through this partnership, both Toyota and Preferred Networks would aim to help move forward its aim of advancing useful service robots that could support people in daily life.
Scope of the Study
Market Segments covered in the Report:
By Component
• Hardware
• Software
By Application
• Personal Assistance & Caregiving
• Hospitality
• Research & Space Exploration
• Education & Entertainment
• Search & Rescue
• Others
By Motion Type
• Wheel drive
• Biped
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Hajime Research Institute, Ltd.
• Hanson Robotics Limited
• Honda Motor Co. Ltd.
• HYULIM Robot Co., Ltd.
• KAWADA Robotics Corporation (Kawada Technologies Co., Ltd.)
• PAL ROBOTICS
• SoftBank Robotics Group (SoftBank Group Corporation)
• Toshiba Corporation
• Toyota Motor Corporation
• Trossen Robotics
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