Humanoid Robot Market

Humanoid Robot Market : Top players are
SoftBank Robotics Corp., ROBOTIS, KAWADA
ROBOTICS Inc
Humanoid robots are robots that resemble the body shape and characteristics of humans such as the
ability to walk in upright position. Humanoid robots typically possess physical appearance similar to that
of a human, including two arms, two legs, and a head. Characteristics of humanoid robots include
autonomous learning, safe interaction with the surrounding environment and humans, and selfmaintenance. Humanoid robots are employed in various applications such as scientific research,
personal assistance, entertainment, automotive manufacturing line, education, and greeting guests and
visitors. Usage of humanoid robots developed with artificial intelligence algorithms is expected to
increase in perilous tasks such as space exploration missions. Various sensors including proprioceptive
and exteroceptive sensors and actuators are used in humanoid robots to measure the surrounding
attributes in order to help the robots work efficiently.
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Rise in demand for humanoid robots from the retail industry, increase in usage of humanoid robots in
education and research purposes, and significant technological advancements in robotics are some of
the key factors expected to drive the global humanoid robots market during the forecast period.
Furthermore, usage of humanoid robots to greet and advise customers and present and demonstrate
products in retail outlets is on the rise. Moreover, humanoid robots are an effective way of gathering
consumer data such as gender, phone numbers, zip codes, email addresses, habits, and service feedback
that help stores in serving their customers efficiently. Considering this, a number of retail outlets are
adopting humanoid robots to enhance their customer experience. In September 2017, Sprint
Corporation, a U.S.-based telecommunication service provider, announced the implementation of
Pepper, a humanoid robot developed by SoftBank Robotics Corp. in its retail outlets. The company is
planning to use the robot to gain market insights by engaging it with customers in its stores. SoftBank
has deployed more than 10,000 Pepper robots in various organizations across the globe including Pizza
Hut, Singapore. In several developed countries, humanoid robots are being deployed in classrooms to
impart math, science, engineering, and technology lessons. Developed by the University of California,
RUBI, a humanoid robot, is being used by a number of preschools in California to teach foreign
languages to students. However, significant capital investments in research and development and high
cost of humanoid robots are some of the factors expected to hinder the growth of the humanoid robot
market. Nonetheless, growing geriatric population in counties such as Japan and China is anticipated to
present lucrative opportunities to the humanoid robot market during the forecast period. Humanoid
robots can be used to help aged people with their daily activities.
The global humanoid robot market can be segmented on the basis of component, application, and
region. Based on component, the humanoid robot market can be divided into hardware and software.
The hardware segment of the humanoid robot market can be further classified into sensor, actuator,
controller, power source, and others. Rise in adoption of artificial intelligence algorithms in humanoid
robots to boost robots’ performance is expected to a primary reason for the leading market share of the
software segment. In terms of application, the humanoid robot market can be categorized into personal
assistance, education, search & rescue, entertainment, research & space exploration, public relations,
and others. Increase in implementation of robots in retail outlets to enhance customer experience is
expected to push the revenues of public relations segment of the humanoid robot market.
Geographically, the global humanoid robot market can be segmented into North America, Europe,
Middle East & Africa, Asia Pacific, and South America. Asia Pacific is expected to contribute a substantial
revenue share to the humanoid robot market during the forecast period owing to growing geriatric
population in countries such as China, India, and Japan.
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Key players in the global humanoid robot market include SoftBank Robotics Corp., ROBOTIS, KAWADA
ROBOTICS Inc., Honda Motor Co., Ltd., Hajime Research Institute, Ltd., UBTECH Robotics, Inc., DST Robot
Co., Ltd., Toyota Motor Corporation, PAL Robotics SL, and ROBO GARAGE Co. Ltd.

Humanoid robot market

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