Humanoid Robot Market Size to Grow by USD 9.74 Bn, Demand for Enhanced Visibility and Flexibility in Industrial Operations to Drive Growth - Technavio
NEW YORK, Sept. 30, 2022 /PRNewswire/ -- The "Humanoid Robot Market by Component and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offerings. The humanoid robot market is estimated to grow by USD 9.74 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 49.37% during the forecast period.
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Market Dynamics
The demand for enhanced visibility and flexibility in industrial operations is driving the humanoid robot market growth. The production of humanoid robots has increased owing to the growing demand for automation in automobiles from countries such as Japan and China. The adoption of humanoid robots also helps manufacturers achieve high precision, quality, visibility, and flexibility.
The emergence of smart manufacturing is a key trend in the market. The growth of automation, data integration, human-machine interaction, electrification, and connectivity has paved the way for the adoption of smart manufacturing. Industrial machines and robots should be equipped with IoT-integrated microprocessors, microcontrollers, sensors, and switches that can optimize production efficiency to enable smart manufacturing.
Vendor Landscape
The humanoid robot market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Manufacturers are offering customized products and services, which is intensifying the competition in the market. Automation solution providers are focusing on innovations in industrial sensors. Moreover, government initiatives in APAC, North America, and Europe are driving the growth of the global humanoid robot market. They are encouraging automation solution providers to invest in R&D activities and product innovation. In addition, technological innovations, service delivery innovation, and supply-demand imbalance are some of the factors that are driving disruption in the global humanoid robot market.
Company Profiles
Some of the companies covered in this report are Advanced Telecommunications Research Institute International, Engineered Arts Ltd., EZ-Robot Inc., Hajime Research Institute Ltd., HANSON ROBOTICS Ltd., Hasbro Inc., Honda Motor Co. Ltd., HYULIM Robot Co. Ltd., Invento Research Inc., KAWADA ROBOTICS CORP., Macco Robotics, PAL Robotics SL, Qihan Technology Co. Ltd., ROBOTIS Co. Ltd., Samsung Electronics Co. Ltd., SoftBank Group Corp., Toshiba Corp., Toyota Motor Corp., Trossen Robotics, Ubtech Robotics Inc., and WowWee Group Ltd.
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Competitive Analysis
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into categories such as growth strategies, financial performance over the last three years, new product launches, innovation score, investments, and growth in market share.
Market Segmentation
By component, the market has been classified into hardware and software. The hardware segment will contribute the largest share of the market during the forecast period.
By geography, the market has been classified into North America, APAC, Europe, the Middle East and Africa, and South America. North America will have the largest share of the market during the forecast period.
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Humanoid Robot Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 49.37%
Market growth 2022-2026
USD 9.74 billion
Market structure
Fragmented
YoY growth (%)
41.26
Regional analysis
North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution
North America at 35%
Key consumer countries
US, Japan, China, South Korea, and Germany
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Advanced Telecommunications Research Institute International, Engineered Arts Ltd., EZ-Robot Inc., Hajime Research Institute Ltd., HANSON ROBOTICS Ltd., Hasbro Inc., Honda Motor Co. Ltd., HYULIM Robot Co. Ltd., Invento Research Inc., KAWADA ROBOTICS CORP., Macco Robotics, PAL Robotics SL, Qihan Technology Co. Ltd., ROBOTIS Co. Ltd., Samsung Electronics Co. Ltd., SoftBank Group Corp., Toshiba Corp., Toyota Motor Corp., Trossen Robotics, Ubtech Robotics Inc., and WowWee Group Ltd.
Market Dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 116: SoftBank Group Corp. - Business segments
Exhibit 117: SoftBank Group Corp. - Key offerings
Exhibit 118: SoftBank Group Corp. - Segment focus
10.11 Toyota Motor Corp.
Exhibit 119: Toyota Motor Corp. - Overview
Exhibit 120: Toyota Motor Corp. - Business segments
Exhibit 121: Toyota Motor Corp. - Key news
Exhibit 122: Toyota Motor Corp. - Key offerings
Exhibit 123: Toyota Motor Corp. - Segment focus
10.12 Ubtech Robotics Inc.
Exhibit 124: Ubtech Robotics Inc. - Overview
Exhibit 125: Ubtech Robotics Inc. - Product / Service
Exhibit 126: Ubtech Robotics Inc. - Key offerings
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 127: Inclusions checklist
Exhibit 128: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 129: Currency conversion rates for US$
11.4 Research methodology
Exhibit 130: Research methodology
Exhibit 131: Validation techniques employed for market sizing
Exhibit 132: Information sources
11.5 List of abbreviations
Exhibit 133: List of abbreviations
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