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(EMAILWIRE.COM, October 22, 2024 ) According to MarketsandMarkets, humanoid robot market to grow from USD 2.03 billion in 2024 and is expected to reach USD 13.25 billion by 2029, growing at a CAGR of 45.5% from 2024 to 2029. The growth is driven by the Surging demand for humanoid robots in retail industry for personal assistance. The retail industry already uses robots in different ways across stores and warehouses, as the major applications of robots in retail are in warehouses and logistics. Humanoid robots are also highly deployed in the retail industry for serving primary robotic applications, such as in-store customer service and bringing the store to customers.
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Based on Type, the humanoid robot market is into two segments: biped, and wheel drive. During the forecast period, wheel drive segment is expected to account for a second larger share of the market. A wheel-drive humanoid robot is a combination of the humanoid structure and the wheeled inverted pendulum (WIP) base. This type of robot can move swiftly on level surfaces and maintain its balance on slopes. The wheel drive segment in humanoid robots is growing due to its cost-effectiveness, energy efficiency, and suitability for stable, high-speed tasks in structured environments.
Based on Offering, the humanoid robot market has been segmented hardware, software, and services. The software segment is projected to register a highest CAGR during the forecast period. As technological advancements are expected to increase the complexity of robots in terms of features such as AI and autonomous operations, the demand for software that assist complex functionalities of robots in processing efficiently and accurately is likely to grow rapidly.
Based on Application, the humanoid robot market has been segmented into education & entertainment, research & space exploration, personal assistance & caregiving, search & rescue, public relations, manufacturing, and other applications (cleaning, and surveillance). Education & entertainment application segment to witness highest growth during forecast period. The use of computers and e-learning platforms in the education sector has increased the accessibility to education worldwide. Humanoid robots play a key role in this field as they can analyze situations logically to support human learning. Humanoid robots in the education sector act as a platform for experimenting with robotics technology without requiring professional expertise.
Key Market Players
SoftBank Robotics (Japan), ROBOTIS (South Korea), Agility Robotics (US), UBTECH Robotics (China), and Pal Robotics (Spain) are among the key players operating in the humanoid robot market. Reliable distribution facilities and strong services across key regions, such as North America, Europe, and Asia Pacific has led to their strong presence in the humanoid robot market. Their broad product portfolio, strong business strategies enhances their market presence.
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About MarketsandMarkets
MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99567653
Based on Type, the humanoid robot market is into two segments: biped, and wheel drive. During the forecast period, wheel drive segment is expected to account for a second larger share of the market. A wheel-drive humanoid robot is a combination of the humanoid structure and the wheeled inverted pendulum (WIP) base. This type of robot can move swiftly on level surfaces and maintain its balance on slopes. The wheel drive segment in humanoid robots is growing due to its cost-effectiveness, energy efficiency, and suitability for stable, high-speed tasks in structured environments.
Based on Offering, the humanoid robot market has been segmented hardware, software, and services. The software segment is projected to register a highest CAGR during the forecast period. As technological advancements are expected to increase the complexity of robots in terms of features such as AI and autonomous operations, the demand for software that assist complex functionalities of robots in processing efficiently and accurately is likely to grow rapidly.
Based on Application, the humanoid robot market has been segmented into education & entertainment, research & space exploration, personal assistance & caregiving, search & rescue, public relations, manufacturing, and other applications (cleaning, and surveillance). Education & entertainment application segment to witness highest growth during forecast period. The use of computers and e-learning platforms in the education sector has increased the accessibility to education worldwide. Humanoid robots play a key role in this field as they can analyze situations logically to support human learning. Humanoid robots in the education sector act as a platform for experimenting with robotics technology without requiring professional expertise.
Key Market Players
SoftBank Robotics (Japan), ROBOTIS (South Korea), Agility Robotics (US), UBTECH Robotics (China), and Pal Robotics (Spain) are among the key players operating in the humanoid robot market. Reliable distribution facilities and strong services across key regions, such as North America, Europe, and Asia Pacific has led to their strong presence in the humanoid robot market. Their broad product portfolio, strong business strategies enhances their market presence.
Ask for Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=99567653
About MarketsandMarkets
MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
