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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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.
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.
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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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.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Component
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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