Humanoid Robot Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Motion Type (Biped, Wheel-drive), By Application (Personal Assistance & Caregiving, Hospitality), And Segment Forecasts, 2023 - 2030

Report Overview

The global humanoid robot market size was estimated at USD 1.11 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 21.1% from 2023 to 2030. The market growth is propelled by several factors, including the wide utilization of humanoid robots for surveillance and security purposes, such as detecting unauthorized intrusion and terrorist activities. Furthermore, humanoid robots are utilized for research and space exploration, enabling connectivity from remote locations. Public and corporate subsidy funds become more demanding for the goals and perceived guiding research in humanoids, despite significant advancements in many fundamental and technological areas of humanoid robotics. Humanoid robots can be helpful in the study of participation and cognition as well as, a broader range of the neuroscience and behavioral sciences, apart from pure robots.

They are also represented by working in the media sector as staff members and participating in other social activities, such as assisting older individuals. The novel product launch by industry players boosts market growth. For instance, in January 2023, Aeo, a dual-arm humanoid robot from Aeolus Robotics, was launched for the novel uses for a range of service duties, including delivery, security, eldercare, operating kiosks, and ultraviolet germicidal cleaning. Operated by Aeo, the business's hands-on approach to service blends distinctive mobility with cutting-edge functionality to carry out duties like opening doors, picking up goods, and riding elevators.

The COVID-19 pandemic has also created new growth opportunities for the market. For instance, Invento Robotics adapted their customer engagement humanoid to collect patient data, take temperatures, and provide guidance in hospitals during the pandemic, highlighting the adaptability and relevance of humanoid robots in addressing urgent challenges. The company also launched humanoid robots in August 2020. Patients in hospital isolation wards receive meals and medications from a robot. According to a press release from the company, the autonomous robot, once programmed, can navigate the topography of a hospital.

Even patients with mobility impairments can easily approach the robot due to its height and the location of the container. Through a video call option included in the robot's features, medical professionals can guarantee that each patient is receiving proper medication. The field of robotics is undergoing significant transformation and development, evident by the rise in commercial investment, the entry of international players, reduced hardware costs, and the growing popularity of existing robots. Despite notable advancements in humanoid robotics research, funding from both public and private sources has become more demanding, seeking clearer motivations and perspectives behind such research.

Apart from robotics applications, humanoid robotics holds potential in areas related to embodiment, consciousness, neurosciences, and cognitive sciences. These robots are also envisioned to have roles in the entertainment industry as receptionists and in social interactions, particularly assisting the elderly. Leading companies like SoftBank Robotics in Japan and PAL Robotics in Spain have made substantial investments in humanoid robots and integrated them into their business strategies, particularly targeting the service industry, including healthcare, hospitality, and retail.

However, the high cost of these robots has been a significant hindrance to their widespread adoption, and finding suitable financing and leasing options is crucial for overcoming this challenge. Businesses, especially brick-and-mortar establishments, need to carefully consider the balance between humanoid robots and human labor concerns. Offering flexible payment options through financing and leasing plans can help alleviate this barrier, enabling companies to make the initial investment more manageable by paying for the robots over time.

Component Insights

The component segment comprises hardware and software. The hardware segment held the major share of 70.92%in 2022. The hardware consists of bodily parts and electronic, electrical, and mechanical components that cooperate to carry out a given duty, as well as sensors, actuators, generators, control systems, and others. The hardware elements give the humanoid robots a human-like look, which significantly increases their worth. Humanoid robots can perform duties in a variety of industries, including medical care, research, and education as the hardware components that enable the smooth integration of new technology.

For instance, in March 2023, through its collaboration with Canadian Tire Corp., Sanctuary AI revealed that it accomplished its goal of the very first installation of a special system created to provide the first human-like cognitive ability in broad-application robots at a client commercial site. On the other hand, the software segment registered the fastest CAGR of 22.3% over the forecast period. Humanoid robots have software a feature to carry out difficult jobs and interact with their environment. For the forecasted market era for humanoid robots, we can anticipate seeing ever more sophisticated and complex software applications.

A software framework for complex human-robot interaction scenarios, the iCub-HRI is used in the case of the iCub Humanoid Robot. In January 2023, as a part of the Ansys Startup Program, Halodi Robotics revealed that it is employing Ansys simulation software to create humanoid robots that can interact with people in regular settings. These robots could help with the developing shortage of workers by allowing key individuals to solely focus on jobs that call for their advanced abilities. These robots will carry out activities including nighttime building patrols, grocery store shelf replenishment, and hospital logistics. Ansys helped Halodi Robotics cut the length of the development process by months with the help of Elite Channel Partner EDRMedeso.

Application Insights

The application segment comprises research & space exploration, education & entertainment, personal assistance & caregiving, hospitality, search & rescue, and others. The personal assistance and caregiving segment held the largest share of 31.9% in 2022. One of the main uses for humanoid robots is in the area of personal assistance and caregiving. In a variety of instances including homes, hospitals, and assisted living facilities, these robots are intended to support and help people. By helping with daily chores and offering companionship, the program aims to improve users' quality of life. Humanoids provide daily assistance to patients and the elderly, helping them with tasks like timely medication delivery. The normal chores that caregivers often carry out include monitoring vital signs, giving prescriptions, assisting with meals, and alerting medical personnel in case of an emergency.

These humanoids are likewise designed to carry out these tasks. On the other hand, the education and entertainment segment is expected to register the fastest CAGRof 23.9% over the forecast period. Humanoid robots are employed in the educational sector to improve students' learning opportunities. They can serve as interactive tutors, giving pupils individualized training and involving them in enjoyable & creative ways. In addition, robots can assist in STEM (science, technology, engineering, mathematics) and foreign language classrooms. Humanoid robots are employed in the entertainment sector, such as at theme parks, exhibits, and events, and even as characters in films and television programs. These robots have cutting-edge AI and sensors that allow them to interact with people, dance, sing, and do other entertaining things.

For instance, the AI for Good Global Summit organized by the International Telecommunication Union was held in July 2023. A variety of new technology, including a variety of robots that can manage things from medicine to rock music, was displayed at the Summit. 51 novel robots were displayed at the summit, nine of which were humanoid and geared to assist people by performing tasks in accordance with the SDGs. According to ITU, Engineered Arts' Ameca is an ideal platform for examining how machines may coexist with people in sustainable communities of the future, work with them, and enhance human life. According to the UN organization, assistive robots are altering human lives in many different ways. These robots help mobility, interaction, wellness, and other crucial everyday tasks using AI, restoring confidence and autonomy for people.

Motion Type Insights

The motion type segment is bifurcated into biped and wheel-drive. The wheel drive segment held the largest share of 65.32% in 2022. Wheel-drive technology has made a substantial contribution to robots by providing effective mobility and adaptable maneuverability. For example, is a humanoid robot with a wheeled base and cutting-edge AI capabilities for human interaction. The small humanoid robot Alpha Mini by UBTECH (China) has wheels for easy movement and interactive features. Designed for amusement and education, MIP is a little wheel-drive robot by WowWee U.S.

These wheel-drive robots have greatly increased the potential of robotics, allowing applications in customer service, research in education, and entertainment. The segment is also expected to register the fastest CAGR of 21.6% over the forecast period. Wheel-type robots are likely to become more popular in military and defense applications due to their advantages. Wheel-drive humanoid robots are also utilized for entertainment in theme parks, science fairs, and other public venues. These factors will fuel market growth in the coming years.

Regional Insights

Asia Pacific held the largest share of 52.8% in 2022. In the global marketplace for robots, AsiaPacific has been a significant player. Major contributorsto the regional market are countries like Japan, South Korea, and China. The region has high product adoption due to the presence ofmanufacturing companies. It is also one of the few places in the world where significant firms like Robotis of Korea, Softbank of Japan, Invento Robotics of India, and other businesses have made progress with humanoids. In the aerospace sector, there has been a desire for humanoids in the area. For instance, the Indian Space Research Organization commenced its human launch program in January 2020 whose goal was sending its first humans into space starting in 2022. A "half-humanoid" robot astronaut named "Vyommitra" was assigned to the Gaganyaan when it made its initial voyage in December 2020, according to the organization.

North America is anticipated to register the fastest CAGR of 21.7% over the forecast period. Numerous top robotics businesses and research centers that have been at the forefront of developing humanoid robot technology are located in North America. Humanoid robots have been used in a variety of fields, including R&D, education, entertainment, and healthcare in the United States and Canada. Humanoid robots are being investigated by businesses and organizations in North America as a way to enhance learning environments, assist with medical procedures, and improve customer experiences. The regional market is expected to flourish owing to the result of the region's excellent robotics research facilities, encouraging governmental initiatives, and robust academic-industry partnerships.

Key Companies & Market Share Insights

To sustain a high level of competitive rivalry, market participants are involved in partnerships and strategic agreements. For instance, in September 2021, the world's top AI company, Keenon Robotics, which specializes in indoor intelligent robots for service, and SoftBank Robotics Group Corp. (SBRG), a leader in robots strategies, announced their collaboration to expand the use of robots technologies in the service sector, which will boost efficiency as well as productivity. Due to the increased operational efficiency that service robots bring, businesses will be able to devote more of their resources to service employees so that they can focus on providing excellent customer support.Some of the prominent players in the global humanoid robot market include:

• HYULIM Robot Co., Ltd.

• Hanson Robotics Ltd.

• Engineered Arts Ltd.

• Honda

• KAWADA Robotics Corp.

• SoftBank Robotics

• Sanbot Co.

• ROBOTIS Co. Ltd.

• Willow Garage

• Toshiba Corp.

Humanoid Robot Market Report Scope

Global Humanoid Robot Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the humanoid robot market report on the basis of component, application, motion type, and region:

• Component Outlook (Revenue, USD Million, 2018 - 2030)

  • Hardware

  • Software

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Research & Space Exploration

  • Education & Entertainment

  • Personal Assistance & Caregiving

  • Hospitality

  • Search & Rescue

  • Others

• Motion Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Biped

  • Wheel-drive

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Norway

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa      

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait