Humanoid Robots Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 17.3 Billion by 2027, registering a CAGR of 63.5% from 2022-2027

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The growth of the humanoid robots market is attributed to the increasing development of humanoid robots with advanced functionality, the increasing use of humanoids as educational robots, the growing demand for humanoid robots from the retail sector for personal assistance and the growing demand for humanoid robots in the medical sector.

New York, April 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Humanoid Robots Market by Component, Movement Type, Application and Geography – Global Forecast to 2027” – https://www.reportlinker.com/p05178636/?utm_source=GNW
However, the high initial costs and R&D expenditure required for the development of advanced robotics is restraining the growth of the market.
“Hardware components hold the largest market share in 2021
The hardware segment market held the largest share in 2021 and is expected to remain the same during the forecast period. Hardware components add major value to humanoid robots, making them look like humans.

The control system is the main subcomponent of a humanoid as it processes the data received by the sensor system and sends commands to the actuators to act accordingly based on the output of the decision process.
“The personal assistance and personal care application will hold the largest market share in 2021
Humanoid robots are widely adopted for personal assistance and caregiving to provide patients with personal care in hospitals and homes. Hospitals around the world are widely implementing bipedal humanoid robots in COVID-19 wards, which is fueling the growth of this market.

In hospitals and homes, humanoids take care of patients and elderly people and assist them in their daily routines, such as providing medicines on time. They are programmed to handle routine tasks that caregivers are typically responsible for, such as checking vital signs, administering medications, assisting with feeding, and alerting healthcare professionals to illnesses. emergency.

APAC Market Expected to Grow at Highest CAGR Over Forecast Period
The APAC humanoid robot market players are the major inventors as well as technology innovators; hence, the region is expected to account for the largest CAGR of 65.7% during the forecast period. APAC is likely to adopt humanoids for almost all major applications during the forecast period. As the elderly population of APAC countries such as China and Japan is increasing, the region is expected to employ humanoids for personal assistance and care applications.

Distribution of the profiles of the main participants:
• By business type: Level 1 – 52%, Level 2 – 31% and Level 3 – 17%
• By designation: C-level executives – 47%, directors – 31% and others – 22%
• By region: North America – 37%, Europe – 28%, APAC – 31% and Rest of the world – 4%
Leading companies profiled in this report are: Key companies operating in this Humanoid Robots Market include SoftBank Robotics (Japan), ROBOTIS (South Korea), KAWADA ROBOTICS CORPORATION (Japan), Honda Motor Co., Ltd. (Japan), UBTECH Robotics Corp. ltd. (China), HANSON ROBOTICS LTD. (Hong Kong), PAL Robotics (Spain) and TOYOTA MOTOR CORPORATION (Japan), and others.

Research coverage
In this report, the humanoid robot market has been segmented on the basis of component, motion type, application, and region. The component-based humanoid robot market has been segmented into hardware and software.

On the basis of motion type, the market has been segmented into bipedal and wheel drive. Based on application, the market has been segmented into Education & Entertainment, Space Research & Exploration, Personal Assistance & Care, Search & Rescue, Public Relations, and Others.

The study also forecasts the market size in four major regions: North America, Europe, APAC, and RoW.

Key Benefits of Purchasing the Report:

The report would help market leaders/new entrants in this market in the following ways:
This report segments the Humanoid Robots market comprehensively and provides the closest approximation of the overall market size and sub-segments which include component, motion type, application and region.
The report would help stakeholders understand the pulse of the market and provide insights into the major drivers, restraints, challenges, and opportunities related to the Humanoid Robots market.
This report would help the stakeholders to better understand their competitors and acquire more information to improve their standing in the business.
The competitive landscape section includes the ecosystem of competitors along with the growth strategies such as product launches and acquisitions made by major market players.
Read the full report: https://www.reportlinker.com/p05178636/?utm_source=GNW

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