Market Research Future (MRFR) in its “Humanoid Robot Market” report states that the market is expected to register an exponential growth in the evaluation period of 2018 to 2023. MRFR reveals that the worldwide humanoid robot market is poised to increase to a decent size across the years of forecast.
Anthropomorphized robots with human-like senses are called humanoid robots. The developers of humanoid robots work on solving problems, such as audio-visual perception, bipedal locomotion, human-robot interaction, dexterous manipulation, and adaptive control and learning. The humanoid robot development industry is working constantly towards the development of such robots suit human needs. Their motive to simplify people’s life by providing assistance in their regular tasks is attracting hefty investment and legal support from government and other well-known organization for their research and development purposes. These factors are expected to boost the growth of the worldwide Humanoid Robot Market.
Industrialization is a major driving force for the humanoid robot market. The growing concern towards the protection of employees from occupational hazards and industrial mass production are factors that are expected to successfully deploying specialized industrial robots across different verticals. The emerging humanoid robot applications are interpreting eye-movements and body language, synthesizing speech, and mimicking gestures. These features are playing significant role in education and entertainment, search and rescue, research & space exploration, retail, personal assistance & caregiving, public relations, and others. The wide range of applications of humanoid robots is anticipated to amplify the market growth.
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The humanoid robot market is segmented by motion, component, and application. By component, the market is segregated into software and hardware. The hardware segment is expected to gain good traction for the humanoid robot market. The increase in development of new software are also expected to direct the course of progress of the market. The hardware segment is further narrowed down to control system, sensor, power source, actuator, and others. By motion, the market is divided into wheel drive and bipedal. By application, the market is segmented into research & space exploration, retail, education and entertainment, public relations, search and rescue, personal assistance & caregiving, and others.
The key players in global Humanoid Robot Market are DST Robot Co., Ltd (South Korea), Engineered Arts(UK), Hajime Research Institute(Japan), Hanson Robotics(Hong Kong), Honda Motor Co., Ltd.(Japan), Istituto Italiano Di Tecnologia(Italy), Kawada Robotics (Japan), Pal Robotics(Spain), Qihan Technology Co.(China), Robo Garage Co.(Japan), Samsung Electronics(South Korea), Toshiba (Japan), Ubtech Robotics(US), WowWee Group Limited(Hong Kong), SoftBank Robotics Corp. (Japan)., ROBOTIS(Republic of Korea) , Willow Garage(US) , Toyota Motor Corporation(Japan) .
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There have been many key developments in the products that the key players offer in terms of database automation.
The humanoid robot market in the Asia Pacific region is expected to secure the tip of the growth curve of the global market across forecast period. Increase in need for improving customer experience to gain brand loyalty, especially in developing economies, is identified as the chief cause that is likely to be boost the APAC humanoid robot market growth. Technological advancements and declining hardware cost in the region are additional driving factors of the market. The growing adoption of automation across the ever-increasing retail sector in APAC is expected to bolster the humanoid robots market expansion.
The Europe market is exhibit to grow at a high pace over the years of assessment. Continuous technological upgradations and surge in demand for humanoid robots across various research institutes and universities are additional factors that can induce growth to the regional market. Up rise in need for humanoid robot applications across the military and defense sector is expected to escalate the North America humanoid robot market growth.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Motion
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain Of Global Humanoid Robots Market
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