DUBLIN, November 16, 2017 /PRNewswire/ --
The "Humanoid Robot Market by Component, Motion Type (Biped & Wheel Drive), Application (Education and Entertainment, Research & Space Exploration, Personal Assistance & Caregiving, Search & Rescue, Public Relations) & Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The humanoid robot market is expected to be valued at USD 320.3 Million in 2017 and is estimated to reach USD 3,962.5 Million by 2023, at a CAGR of 52.1% between 2017 and 2023.
The humanoid robot market is mainly driven by factors such as the introduction of advanced features in humanoid robots, the increasing use of humanoids as educational robots, and growing demand from the retail industry for personal assistance.
As the technological advancement will lead to the growing complexity in terms of features such as AI and autonomous operations, the value of the software part in the robot will grow faster than hardware as software will assist the complex functionalities to process efficiently and accurately.
The humanoid robot market is segmented on the basis of motion types into biped and wheel drive. The actual human-like appearance can be realized in humanoids only when the robot is capable of walking on feet like humans; owing to this, a majority of the humanoid robot manufacturers are focusing on their designs to make biped robots. Also, the advancement in technology has made humanoid robots more stable with precise movements, generating demand from almost every application.
The humanoid robot market is segmented on the basis of applications into education and entertainment; research and space exploration; personal assistance and caregiving; search and rescue; public relations; and others. The public relations application accounted for the largest share of the overall humanoid robot market in 2016.
The market for the education and entertainment application is expected to grow at the highest CAGR during the forecast period. The key factor responsible for this growth is the ability of humanoids to assist and even replace teachers in classrooms, creating a buzz for modernizing schools. The market for the personal assistance and caregiving application is expected to grow at the second-highest CAGR during the forecast period.
The high initial cost and R&D expenses inhibit the humanoid robot market growth. Furthermore, the lack of high-level interfacing causing unpredictable performance of humanoid robots has been a key challenge facing the industry. However, factors such as rapid growth in aging population, rise in demand from medical and logistics sectors, and the rising trend of autonomous rescue operations can generate significant opportunities for this market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
- Introduction of Advanced Features in Humanoid Robots
- Increasing Use of Humanoids As Educational Robots
- Growing Demand from Retail Industry for Personal Assistance
- High Initial Cost And R&D Expenses
- Rapid Growth in Aging Population
- Rise in Demand from Medical And Logistics Sectors
- Rising Trend of Autonomous Rescue Operations
- Lack of High-Level Interfacing, Causing Unpredictable Performance
6 Humanoid Robot Market, By Component
7 Humanoid Robot Market, By Motion Type
- Wheel Drive
8 Humanoid Robot Market, By Application
- Education And Entertainment
- Research & Space Exploration
- Personal Assistance And Caregiving
- Search And Rescue
- Public Relations
9 Humanoid Robot Market, Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- Advanced Telecommunications Research Institute International (Atr)
- Behavior Labs
- Dst Robot Co.
- Engineered Arts
- Hajime Research Institute
- Hanson Robotics
- Honda Motor
- Istituto Italiano Di Tecnologia
- Kawada Robotics
- Macco Robotics
- National Aeronautics And Space Administration (Nasa)
- Pal Robotics
- Qihan Technology Co.
- Robo Garage Co.
- Robotics Lab
- Samsung Electronics
- Toyota Motor
- Ubtech Robotics
- Wowwee Group
For more information about this report visit https://www.researchandmarkets.com/research/x7dkwn/humanoid_robot
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