London, March 13, 2023 (GLOBE NEWSWIRE) -- Given the global manufacturing landscape and increasing population around the world, a continual increase in the scale of production is expected to remain the need of the hour in the coming years. Additionally, Fairfield Market Research has found that the increasing use or adoption of humanoid robots for tasks that would otherwise put human lives in danger is now becoming a reality. This can apply to deployment in case of natural disasters, pandemics, or other scenarios that may expose individuals to harmful elements such as chemicals, harmful gases, or even extreme temperatures. These are factors expected to have a profound influence on the growth trajectory of the global humanoid robot market.
“Over the last two decades, there have been immense strides taken in technological innovation. Leaps and bounds in fact. As these progressions were made, so were their implementations across a wide spectrum of application areas, in various fields, for the purpose of achieving a specific goal or task. And in the field of robotics, these advancements were applied to initially carry out customer engagement goals. The further implementation of AI, machine learning, and Human-Machine Interface systems resulted in a growing demand for these solutions for the various commercial applications,” says the analyst at Fairfield Market Research.
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Insights into Segmental Analysis
The humanoid robot market has been segmented as follows – By Component, Application, Motion Type, and Region. Based on the ‘Motion Type’ market segmentation, the ‘Wheel Drive’ sub-segment is expected to account for the majority share of this market owing to uncomplicated design and the ability to effectively navigate their surroundings. With respect to the ‘Component’ segmentation of this market, the ‘Software’ sub-segment is projected to account for the majority share of this market in the coming years. This can be attributed to software aspect being able to aid in processing complex functionalities efficiently and accurately. In terms of ‘Application’ market segmentation, the “Education & Entertainment” sub-segment is expected to index the fastest CAGR over the forecast period.
Insights into Regional Analysis
The Asia Pacific regional market is expected to account for the majority share of this industry over the forecast period. This can be attributed to a host of factors including the presence of a large target market, a higher number of application areas, increasing investments by respective governments towards the development and implementation of technological advancements to lower overall costs and boost productivity, as well as the fact that this region is home to a number of manufacturing powerhouses such as India, China, Japan, and South Korea. This trend is expected to continue at an exponential pace over the forecast timeline.
Key Players in the Humanoid Robot Market
Apart from Hitachi, Robotis, Softbank Robotics, PAL Robotics, and Honda Motor Co. Ltd., this report will also cover other prominent players in the humanoid robot market, particularly detailing their respective key strategic developments that lend a competitive edge. Some of these other major profiled companies include Ubtech Robotics Inc., Boston Dynamics, Hanson Robotics, Toyota Motor, Hajime Research Institute, and Kawada Robotics Corporation.
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Key Elements Included In The Study: Global Humanoid Robot Market
- Humanoid Robot Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2019 - 2022
- Market Value at Regional and Country Level, 2023 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
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