Market Highlights
The increasing need for making robots adaptive to environments designed for humans is driving the growth of humanoid robot market. The need for automation in various service sectors is another factor contributing to the growth of the market. Adoption of robotics in retail can be considered as an opportunity for growth of the global Humanoid Robot Market. However, technical challenges faced by humanoid robot developers can hamper the growth of this market.
Key Players:
Some of the important key players that are operating in the global humanoid robot industry are Engineered Arts(UK), DST Robot Co., Ltd (South Korea), Hanson Robotics(Hong Kong), Hajime Research Institute(Japan), Istituto Italiano Di Tecnologia(Italy), Honda Motor Co., Ltd.(Japan), Kawada Robotics (Japan), Qihan Technology Co.(China), Pal Robotics(Spain), Robo Garage Co.(Japan), Toshiba (Japan), Samsung Electronics(South Korea), WowWee Group Limited(Hong Kong), Ubtech Robotics(US), ROBOTIS(Republic of Korea) , SoftBank Robotics Corp. (Japan)., Willow Garage(US) , and Toyota Motor Corporation(Japan) .
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Industry Segments
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.
Regional Analysis
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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Intended Audience
- Robotics solution providers
- OEMs
- Software integrators
- Technology investors
- Regulatory industries
- Artificial intelligence developers
- Associations and forums related to Humanoid robots
- Government bodies
- Market research firms
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