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Humanoid Robot Market worth $13.25 billion by 2029 - Exclusive Report by MarketsandMarkets™
Wheel-driven humanoids are increasingly favored for applications requiring efficient movement over flat surfaces, such as warehouses, factories, and hospitals. This hybrid design allows robots to navigate smoothly and quickly in controlled environments, where legs may be less practical. Enhanced robotics engineering has enabled these humanoids to transition between wheels and legs, providing versatility in terrain navigation.
Control Systems/Controllers sub-segment accounted for the largest share of the humanoid robot industry for hardware in 2023. The control system is the brain of a humanoid robot. It processes the data received by the sensor system and provides commands to the actuators to act accordingly based on the output of the decision process. The controller is the most essential and valuable part of a humanoid robot. Its price increases based on the complexity of the robot, resulting in maximum value addition to the overall humanoid robot hardware circuitry.
The personal assistance & caregiving segment accounted for the second fastest CAGR during forecast period 2024 to 2029. Humanoid robots are ideal for personal assistance and caregiving to patients and old people at hospitals and homes. Both biped and wheel-drive humanoid robots are being highly used in personal assistance and caregiving applications. Humanoid robots use equipment and tools designed for humans to carry out similar tasks. They also engage in meaningful social interactions with elderly people and provide a psychological perspective of caregiving.
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The adoption of humanoid robots is rising for the caregiving and personal assistance across the Asia Pacific region due to the increasing elderly population in countries like China and Japan . Also, the region is home to a number of well-established humanoid robot manufacturers with high investments into research and development, which enables these companies to maintain their edge over the competition and expand the market in that region. SoftBank Robotics ( Japan ), ROBOTIS INC ( South Korea ), KAWADA ROBOTICS CORPORATION ( Japan ), Honda Motor Co., Ltd. ( Japan ), and UBTECH Robotics Corp. Ltd. ( China ) are among the key manufacturers operating in the region.
SoftBank Robotics ( Japan ), ROBOTIS ( South Korea ), Agility Robotics (US), UBTECH Robotics ( China ), and Pal Robotics ( Spain ) are the major players in humanoid robot companies . These players have implemented various strategies to extend their global reach and enhance their market shares.
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