Humanoid Robot Market Size, Share & Analysis Report, 2023-2032
The global Humanoid Robot market size was exhibited at USD 1.62 billion in 2022 and is projected to hit around USD 28.66 billion by 2032, growing at a CAGR of 33.28% during the forecast period 2023 to 2032.
Key Pointers:
The need for personal assistance humanoid robots in the retail business, the adoption of humanoids as educational robots, the continued development of humanoid robots with advanced characteristics, and the expanding use of humanoid robots in the medical field are all factors driving the market expansion.However, high initial costs and research and development expenses needed for advanced robotics development are hindering market growth.On the plus side, there will likely be plenty of prospects for the adoption of humanoid robots in the future thanks to the fast expanding senior population in developed nations, increased demand for robots in the logistics industry, and rising demand for robots in various rescue missions.
Humanoid Robot Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 2.16 Billion |
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Market Size by 2032 |
USD 28.66 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 33.28% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Motion Type, By Component and By Application |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
Samsung Electronics, DST Robot Co. Ltd., Qihan Technology Co., Kawada Robotics, Toshiba, Robo Garage Co., Honda Motor Co. Ltd., Engineered Arts, Instituto Italiano Di Technologia, WowWee Group, Toyota Motor Corporation, ROBOTICS, Ubtech Robotics, Pal Robotics, SoftBank Corporation, Hanson Robotics and Others. |
Impact of COVID-19 on the Humanoid Robot Market
COVID-19 has severely impacted the global economy and all the industries throughout the globe. Governments of various countries have imposed lockdowns to contain the spread of the epidemic. The complete global lockdown in the initial stage of the pandemic in various countries severely impacted the livelihoods of people and quality of life. This has resulted into the disruptions in the supply chain across the globe. The economies across the world have declined as there is a major decline in the demand for products. The production across industries has been limited due to the pandemic resulting in the shortage of raw material. The decline in exports and the disruptions in the supply chain are the major factors contributing to the decline in production.
The COVID-19 pandemic affected the growth of the humanoid robot industry during the initial phase of 2020. The rapid spread of the virus halted the export of humanoid robot components, impacting the production of humanoid robots during the first two quarters of 2020. During this crisis, the main objective of the market players was to sustain their businesses by finding safer ways to continue manufacturing operations or other sustainable ways to get the revenue stream flowing. However, the demand for humanoid robots increased in the medical sector in the later period of 2020. They were used in hospitals to ensure the safety of the medical staff and supply food and medicines to the patients affected by the virus.
Market Dynamics
DRIVERS: Growing development of humanoid robots with advance features
Technological advancements have influenced the demand for robotics and driven its adoption by various applications. Humanoid robots provide the best interface for human–robot interactions as they can mimic a person; this makes humans treat humanoids as companions. All these are the result of continuous technological advancements and growing research in the robotics field. The research pertaining to humanoid robots is mainly classified into artificial intelligence, robot hardware development, the realization of biped or wheel drive locomotion, and human–robot interaction.
RESTRAINTS: High initial cost and research development expenses required for introducing advanced robotics
Robotic toys, educational robots, and programmable industrial or service robots, among others, which are produced using mass-market components can perform simple tasks and are easily available in the market at a competitive price. However, in the case of humanoid robots, as the level of complexity of tasks increases, the cost of R&D incurred into it also increases. The high cost of humanoid robots acts as a major restraining factor for market growth. The overall cost associated with humanoid robots includes component costs, repair, and maintenance costs, and research and development costs required for developing advanced and professional humanoid robots. This occurs as an extensive investment for small-and medium-sized enterprises.
OPPORTUNITIES: Rapidly growing geriatric population in most developed countries
Robotic technologies, along with supporting technologies, such as AI, machine learning, and speech recognition, are being developed to carry out autonomous activities through humanoid robots in the healthcare sector. For instance, humanoid robots Pepper and NAO from SoftBank Robotics (Japan) play an important role in the healthcare sector; they help in the supply of medicines and food from one place to another in hospitals, and can also move freely through hospital corridors, elevators, and departments. Besides, in 2021, Hanson Robotics, Limited (Hong Kong), announced its invention of a humanoid robot, Grace, which is specially designed for the healthcare market.
CHALLENGES: Lack of high level interfacing resulting in unpredictable performance of robots in untested environment
To date, robots have performed successfully in operated and controlled environments, such as factories and retail stores. With increasing applications of service robots in various fields, such as education and entertainment, search and rescue, logistics, public relations, cleaning, and medical, there is a need for robots to perform much more than pick and place and assist humans. Therefore, there is a need to develop humanoid robots with more efficient hardware (arms and hands), force and vision, tilt, position, and other sensors; and software to make them interact with the environment with tactile manipulation as humans do and learn it accordingly. Various companies are heavily investing in research and development activities to develop advanced humanoid robots.
Some of the prominent players in the Humanoid Robot Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Humanoid Robot market.
By Motion Type
By Component
By Application
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers