Humanoid Robot Market

Humanoid Robot Market- By Component, motion type and application

Market Synopsys

The market size of the global Humanoid Robot market in the year 2022 is valued at USD 1312.35 Million and is predicted to reach USD 32398.97 Million by the year 2030 at an 49.30% CAGR during the forecast period. Humanoid Robot is an expert assistance robot with its body shape worked to look like human body and copy human movement and collaboration. This gadget comprises of a middle with a head, two arms, two legs alongside face, eyes, mouth and can take care of tasks & responsibilities in daily existence all the more productively and efficiently in all around planned manner. Humanoid Robots with man-made consciousness calculations observe enormous scope application in the medical care area as clinical colleagues, arranging helps as it can execute drawn-out, and complex errand from different body position.

The introduction of advanced features and functionalities of Humanoid Robots is a key factor expected to drive the growth of the target market. Rising demand for Humanoid Robots for use as educational robots is another factor expected to boost the growth of the global Humanoid Robot market. Rising demand for personal assistance in the retail industry is one of the other factors expected to boost the growth of the target market. Aerospace and defense services use these robots for disaster response, sending real-time alerts when intruders are automatically detected, as it uses millisecond computing speeds to predict and accurately respond to worker movements and take on tasks that could pose health hazards to human workers. Thus, maintaining the highest level of safety. Such automatics are able to take over astronauts' day-to-day tasks during space travel, as they are structures with variable flexibility, redundant motion, and are preferable to manual labor due to their error-free, fast response, improving product quality standard market. This creates a new potential opportunity for the prominent players operating in the target market in the near future.

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Market Segmentation:

The Humanoid Robot market is segmented on the basis of component, motion type and application. Based on component, the target market is bifurcated into hardware and software. The hardware segment include sensor, actuator, power source, control systems, others. By motion type, the market is segmented into biped and wheel drive. By application, the market is segmented into education & entertainment, research & space exploration, personal assistance & caregiving, search & rescue, public relations and other applications.

Based on component, the software segment is accounted as a major contributor in the Humanoid Robot market

In 2021, the software segment represented the biggest revenue share and is expected to register the highest CAGR in the target market during the forecast period. As the innovative progression will prompt the expanded intricacy as far as elements, for example, AI and independent activities, the worth of the product part in the robot will become quicker than equipment as the product will help the intricate functionalities to process effectively and precisely.

Wheel Drive segment witness growth at a rapid rate over the forecast period

The wheel drive section holds the biggest portion of the overall industry during the conjecture time frame. The wheel drive robots are straightforward in plan and are modified to explore the environmental elements. The requirement for wheel-type robots in military and guard applications is relied upon to increment because of their advantages. Likewise, wheel drive Humanoid Robots are being utilized as diversion robots at entertainment meccas, science occasions and amusement parks. These elements are relied upon to fuel the market's development later on years.

Public Relation application dominates the entire market

In 2021, the overall Humanoid Robot industry was overwhelmed by the public relations application section, and this pattern is relied upon to go on for the upcoming years. The market for training and amusement applications is anticipated to extend at the quickest CAGR during the conjecture time frame. The key element liable for this development is the capacity of humanoids to help and even supplant educators in homerooms, making a buzz for modernizing schools.

In the region, the North America Humanoid Robot market holds significant revenue share.

APAC followed by North America area holds major share in terms of revenue in 2021 and is expected to dominate the Humanoid Robot market during the forecast period. The nations present in APAC district like Japan, China others, are one of biggest Humanoid Robot producing nations. The Humanoid Robot (HM) are conveyed in different errands, for example, notice, showing partner and others, which will give tremendous development to Humanoid Robot market around here.