Humanoid Robot Market Size, Share, Market Analysis Report 2031

(MENAFN- Straits Research) Humanoid robots, designed to emulate people's complex movements and skills, have shown considerable promise in various fields. Modern technology has aided several critical healthcare functions. These instruments are extremely useful in surgery, patient care, and rehabilitation. Humanoid robots are interactive educational aids. These technologies are also used in the manufacturing, retail, and hospitality industries. They are employed in customer service, logistics, and entertainment areas.
Market Dynamics
Advances in Robotics, Artificial Intelligence (AI), and Machine learning Drive the Global Market
The industry is expanding due to advancements in robotics, artificial intelligence, and machine learning. Humanoid robots are becoming more adaptable and versatile as technology advances. AI and machine learning algorithms have improved these robots' observation, decision-making, and interpersonal skills. As a result, they have expertise in healthcare, manufacturing, entertainment, and customer service.
Furthermore, the seamless integration of cutting-edge artificial intelligence (AI) technologies enables robots to learn and adapt, increasing operational efficiency. The growing acceptance of humanoid robots' potential to boost productivity and customer experiences promotes market growth and innovation across industries.
Automation and Industry 4.0 Creates Tremendous Opportunities
The integration of contemporary automation technology and intelligent manufacturing processes into industries worldwide is propelled by automation and Industry 4.0, hence stimulating the global market. The paradigm shift is causing a significant increase in the demand for humanoid robots across all domains. With the increasing automation of businesses, there has been a growing utilization of humanoid robots in collaborative production and logistical processes. These applications require robots to possess characteristics such as agility, flexibility, and the ability to communicate like humans.
Regional Analysis
Asia-Pacific is the most significant global humanoid robot market shareholder and is anticipated to grow tremendously during the forecast period. In the global humanoid robot market, the Asia-Pacific region demonstrates substantial dynamics. With its expanding industrial environment and government support for robots, China leads innovation and mass manufacturing in the region. Furthermore, Japan's pioneering robotics business is still developing humanoid robots for healthcare and geriatric care. The Indian innovation environment also fosters the creation of firms specializing in humanoid robots, allowing them to capitalize on the promise of industrial automation.
Furthermore, Singapore and Malaysia are increasing their robotics investments to boost manufacturing and logistics. Asia-Pacific is adopting humanoid robots in healthcare, education, entertainment, and customer service due to its vast population and technological improvements. Asia-Pacific is a hotspot for the global growth and innovation of the humanoid robot market because of these characteristics and the increasing awareness of their benefits.
Key Highlights

The global humanoid robot market size was valued at
USD 1.98 billion in 2023. It is projected to reach
USD 14.5 billion by 2031, registering a
CAGR of 47.2%
during the forecast period (2023-2031).
Based on motion type, the global humanoid robot market is segmented into bipedal humanoid robots, wheel-based humanoid robots, humanoid drones, and others bipedal humanoid robots segment dominates the global market and is predicted to expand substantially over the forecast period.
Based on application, the global humanoid robot market is fragmented into education and research, healthcare and medical assistance, entertainment and gaming, personal assistance and companionship, industrial and manufacturing, and others (military, space).The education and research segment is the highest contributor to the market and is expected to expand significantly over the forecast period.
Based on end-users, the global humanoid robot market is fragmented into healthcare institutions, research institutes, manufacturing companies, entertainment companies, and others healthcare institutions segment owns the highest market share and is expected to expand significantly over the forecast period.
Asia-Pacific is the most significant global humanoid robot market shareholder and is anticipated to grow tremendously during the forecast period.

Competitive Players
The major players in the market are SoftBank Robotics, Honda Motor Co., Ltd., Toyota Motor Corporation, ROBOTIS, KAWADA ROBOTICS CORPORATION, UBTECH Robotics Corp. Ltd., HANSON ROBOTICS LTD., Boston Dynamics, Engineered Arts, Aldebaran Robotics, DST Robot Co. Ltd., FANUC Corporation, PAL Robotics, KUKA AG, Promobot Corp., EZ-Robot, Macco Robotics, and WowWee Group Limited.
Market News

In April 2023,
SoftBank Robotics (Japan) announced its partnership with Sushi Machines to offer Optimal Robotic and AI Solutions for restaurants in Australia.
In October 2022,
Hanson Robotics (China) partnered with Playasia (Hong Kong) to create and market merchandise featuring SOPHIA Humanoid Robots. The merchandise line includes apparel, artwork, posters, and collectibles.

Global Humanoid Robot Market: Segmentation
By Type

Bipedal Humanoid Robots
Wheel-Based Humanoid Robots
Humanoid Drones
Others

By Applications

Education and Research
Healthcare and Medical Assistance
Entertainment and Gaming
Personal Assistance and Companionship
Industrial and Manufacturing
Others (Military, Space)

By End-User

Healthcare Institutions
Research Institutes
Manufacturing Companies
Entertainment Companies
Others

By Regions

North America
Asia-Pacific
Europe
The Middle East and Africa
Latin America

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