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Market ScenarioHumanoid robots are anthropomorphized robots with human like senses. Humanoid robot developers work on solving issues which include bipedal locomotion, dexterous manipulation, audio-visual perception, human-robot interaction, adaptive control and learning, targeted for the application in humanoid robots. The humanoid robot development industry constantly works on making robots that can work in close cooperation with humans in the same environments which are designed to suit human needs. The successful implementation of specialized industrial robots for industrial mass production has led to the development of general-purpose humanoid robots for a new set of applications. Humanoid robots are designed based on human-centered body design for it to have human like movements to adapt to a world designed for humans. Development in humanoid robots is moving in a direction to make them capable of having intuitive communication with human by analyzing and synthesizing speech, eye-movements, and mimicking gestures, and body language.
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Humanoid robots have a variety of applications in education and entertainment, research & space exploration, search and rescue, retail, public relations, and personal assistance & caregiving among others. Humanoid robots in retail deal with customer care and distribution process. Humanoid robots can have crucial applications in military search and rescue operations as their motion and durability can allow them to reach where humans cannot. Humanoid robots in public relations can answer customer queries and guide them to improve overall customer experience.
Development in artificial intelligence, machine learning, IoT, machine vision through AI, natural language processing is driving the growth of humanoid robot market as the entire working of humanoid robots is based on these technologies. The functions of humanoid robots that are still in development stage include bipedal locomotion, perception, dexterous manipulation, human-robot interactions and robot learning and adaptive behavior. Increasing demand to enhance customer experience, declining costs of hardware components used in robots, increasing adoption of humanoid robots in education and healthcare and surge in applications of humanoid robots for military and defense are the factors currently driving the humanoid robot market. However, high R&D budgets required for the development of humanoid robot technology is a restraining factor for the growth of Humanoid Robot Market. High initial cost of humanoid robots and technical challenges in bipedal motion and human-robot interactions can also hamper the growth of humanoid robot market.
Industry Update
August 2019: A restaurant named ‘Uruka’ in Guwahati, Assam will now serve food using a humanoid robot named Palki. This robot is designed by the proprietor of the restaurant, who is working on three other robots.
Key Players:
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.
By Segments
The global humanoid robot market is segmented based on component, motion, application, and region.
• By component, the global humanoid robot market is segmented into software and hardware. The hardware segment is further sub-segmented into sensor, actuator, power source, control system and others.
• By motion, the global humanoid robot market is segmented into bipedal and wheel drive.
• By application, the global humanoid robot market is segmented into education and entertainment, research & space exploration, search and rescue, public relations, retail, personal assistance & caregiving and others.
Regional analysis
The global market for humanoid robot is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis for global humanoid robot market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the humanoid robot market during the forecast period. Increasing demand for improving customer experience in countries like China and Japan is driving the growth of the market in this region. Technological advancements in China and Japan coupled with the declining cost of hardware in China can be considered as driving factors behind the growth of humanoid robot market in this region. Growing demand of automation from retail sector in APAC countries can be considered as an opportunity for the growth of humanoid robot market in this region.
Europe is expected to grow significantly in the humanoid robot market during the forecast period. Technological advancements and increasing demand for humanoid robots from various universities and research institutes is driving the growth of the humanoid robot market in this region
North America is expected to contribute significantly to the humanoid robot market during the forecast period. Rising investments by government for the R&D of humanoid robots is driving the growth of humanoid robot market in this region. Up rise in demand for humanoid robot applications in military and defense is another driving factor fueling the growth of the market in this region
For rest of the world the surge in demand for military & defense applications in the Middle Eastern countries is driving the growth of humanoid robot market in the region.
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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
Continued…
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Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future
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Release ID: 88925896
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