Global Humanoid Robot Market to Hit USD 10.8 Bn by 2035 | CAGR 17.7%

Read more about this report- Global Humanoid Robot Market to Hit USD 10.8 Bn by 2035 | CAGR 17.7%

The Humanoid Robot Market is valued at USD 1.80 Billion in 2024. The Humanoid Robot Market will achieve USD 10.8 Billion by 2035 through a projected 17.7% CAGR from 2025 to 2035.

Increasing need for automation of customer-facing jobs, especially in retail and healthcare markets, is the strongest driver behind the industry, whereas the overall cost of manufacturing and service costs limits its overall utilisation. The rising evolution of AI and machine learning technology offers the potential to advance the cognitive powers of humanoid robots and prompt responsiveness.

Based on various patterns in the direction to use the robot, the robot segments the humanoid robot into Component (Hardware, Software), Motion Type (Biped, Wheeled), Application (Research & Space Exploration, Education & Entertainment, Personal Assistance, Public Relations, Healthcare), and End-user (Retail, Healthcare, Education, Industrial). The healthcare application segment has a high growth rate as it is being used intensively in geriatrics and recuperation because of growing populations and the necessity of constant client involvement.

Applications range from retail uses of public relations robots to therapeutical uses using robots in the healthcare industry. The healthcare applications have a growing need for humanoid robots to interact with patients, monitor and give support in cognitive treatments, and, supported by the speech and behaviour modelling based on AI, the humanoid robots will be more responsive and specific in branches of treatment.

Some national programs emphasize the incorporation of humanoid robotics into everyday life, including Japan with its Society 5.0, which is aimed at answering labor shortage and an aging population via deploying advanced robotics to care of the elderly, provide services to the population, and maintain smart cities.

The humanoid robot business has five geographic regions, namely: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In South Korea, humanoid robot use is advancing more rapidly due to new government programs that encourage innovation coupled with the pressure of consumers who are not only very savvy with technology but need care and newer technologies in care facilities.

Other key players in the market in the humanoid robot segment are SoftBank Robotics, Hanson Robotics, PAL Robotics, Toyota Research Institute, and Boston Dynamics. By developing humanoid robot design, furthering AI-human interaction and commercial scale deployment, these companies are changing the market dynamic, through their investment in research and development and customer based innovations.