Advancements in the Humanoid Robot Market Aimed to Promote Better Personalization and Interaction

The global humanoid robot market size reached a value of $620 million in 2018. Furthermore, the humanoid industry revenue is skyrocketing with a CAGR of 46.71% during the forecast period 2019-2025.

Hyderabad, India - September 5, 2019 /MarketersMedia/ —

Around the world, about 70% of the employees consider that robotics and automation are enhancing their skills while driving humongous growth opportunities, according to the International Federation of Robotics (IFR). So, the companies, educational institutions, and research institutes are investing to develop and explore these ample opportunities in multiple applications. Humanoid robotics is an emerging yet challenging field of robotics experiencing significant attention for the past decade. Technological advances in humanoids have started to speed up with an incredible intervention of engineering, robot mechanism, and artificial intelligence. Initially, these advancements majorly aimed to create better prosthetics for human beings. However, in the current scenario, these research activities are not limited to helping man-kind but are evolving rapidly in different areas such as military, hospitality, healthcare, social assistance, and education, etc. Regardless of these application areas, the humanoid robot along with AI and deep learning is evolving to tackle human-like information processing and the underlying mechanisms of neurons in the human brain. As a result, they are progressing to perform the designed-tasks in multiple fields. Furthermore, advancements in humanoid hardware are gaining traction with the declining prices of electronic components. The highly advanced humanoid mechatronic systems are combined with rich and complex sensorimotor capabilities to further explore the research arena of humanoids. With these significant advancements in hardware and software platforms, the global humanoid robot market is experiencing huge growth in diverse applications. The report covers Humanoid Robot Market size by Components and Market size by applications, Humanoid Robot Market share by top 5 companies and also the market share by start-ups during the forecast period

The global humanoid robot market size reached a value of $620 million in 2018. Furthermore, the humanoid industry revenue is skyrocketing with a CAGR of 46.71% during the forecast period 2019-2025.

Approachability and Personalization of the Humanoid Robot Market Surging the Hospitality Segment

Hospitality is one of the predominant segments in the global humanoid robots market accelerating with a CAGR of 60% over the forecast period. Humanoids as staff members are enhancing the guest experience in the hospitality sector. In hotels, humanoids as receptionists help the customer to answer queries while addressing them during check-in and check-out processes. With the rising automation, personalization of the users along with time-saving aspect can be achieved by the humanoid robots. Pepper and NAO of SoftBank Group are accomplished illustrations of the humanoid robots in the hospitality industry. These models benefit the hotel properties by proactively calling and interacting with their customers to identify their needs. Subsequently, they offer a refreshing experience for private lounges and spaces to spend pastimes contentedly. As a result, this approachable and engaging humanoid robots market is thriving with widespread adoptions in the hospitality industry.

In 2017, the Walt Disney Company, a multinational enterprise diversified in mass media and entertainment filed a new patent application to develop robots including huggable humanoid robots. Though robots are common in Disney’s parks, these robots that are to be developed to physically interact with children and they should be soft and durable. The humanoid’s style resembles the animated characters.

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Robot-Assisted Therapies Driving the Humanoid Robot Market in the Healthcare Industry

In 2017, a well-established segment of professional service robots, the total global medical robots market sales have risen significantly to $1.9 billion accounting for about 29% of the professional service robots market. The main areas of robotic development include robot-assisted surgery along with therapy and rehabilitation assisting robots helping children and adults to improve their physical or cognitive abilities. With a huge precision from surgical robots in healthcare, the demand for humanoid robotics applications is significantly growing in this sector. In the healthcare industry, a humanoid is successfully taking care of patients in disease management and assisting pediatricians in the effective treatment of children. A humanoid robot, with its clinical abilities, can significantly reduce children’s pain while acting as pain coach and physical companion. With fewer interactions and verbal communication established between patient and robot, the child’s truncal motor functionality and balance are tremendously improved along with his/her coordination.

Along with that, humanoids are also responsible for distress management and remote monitoring of patients in the healthcare environment. In addition, clinical studies also indicate that anger, depression, and anxiety can be influenced by the treatment involved in humanoid robots. Cancer is the second leading cause of death around the world facing estimated death of about 9.6 million in 2018. With its effect and economic impact rising, the humanoid play a significant role in mitigating the harmful effects of cancer during therapy in children. They generate potential positive impact when assisted to treat cerebral palsy and pediatric cancer. Post-psycho-therapy, when the children are assessed for angry, anxiety and depression, humanoid robots are successful to mitigate these harmful effects. Furthermore, research activities to reap potential benefits in other medical areas are thriving in the healthcare industry. In 2016, a collaborative research team of the University of Bristol along with Universities of Montpellier, Naples Federico II, and Exeter found that humanoid and computer avatars could help people suffering from social disorders such as schizophrenia or social phobia. The avatar with enough intelligence operated by the principles of dynamic systems and feedback control theory is synchronized and made to respond to humans. These types of research activities are thriving in the healthcare industry to explore the spectrum of humanoid robots. Owing to these potential benefits in the healthcare sector, the humanoid robot market is surging with huge demand.

Humanoid Robot Market Presenting a Powerful Way of Teaching to the Education Sector

Another burgeoning industry exploring the advancements of the humanoid robot market is the education sector. With the sharp penetration of internet, the usage of computer and e-learning is surging in the education sector. However, the recent trend is the application of humanoids that are supporting human learning in multiple ways. Humanoid robots in education are helping to enhance reasoning while analyzing the situations logically. They offer a potential benefit to computers in teaching, providing hands-on experiences in labs and engineering, general sciences, helping kids in language, games, and story-telling. Humanoid robots are unassailable teacher assistants and game companions to children in increasing their memory and participation. These powerful yet experimental learning aspects of humanoid robots is booming in the education segment.

Industrialization in APAC Boosting the Humanoid Robots Market Growth

APAC is the dominant region in the global humanoid robot market. The region accounted for a leading share of 41.9% in the global humanoid robot market as of 2018. China, Japan, the Republic of Korea are the leading countries in the robots market followed by the United States, Taiwan, and Germany. China continued to dominate the global marketplace. The major drivers of the humanoid robot market growth in APAC are the rising demand for electronics and automotive industries in APAC countries such as China, India, and Japan. Within the automotive industry, China accounted for a large share of about 25% in the global industrial robots market. Consequently, with the rising urbanization, the demand for these high precision applications and the need to automate their production is boosting the growth of the humanoid robots market. These growth prospects are propelling the growth of the APAC humanoid robot market.

Humanoid Robot Industry – Key Players

Companies operating with a dominating share in the global humanoid robot industry are SoftBank Group Corp, Honda Motor Company, Ltd, Toyota Motor Corporation, Hanson Robotics Limited, Italian Institute of Technology, Toshiba Corporation, Pal Robotics S.L., Boston Dynamics, UBTech Robotics, Inria, Engineered Arts, Robotis, and Bluefrog Robotics, Inc. The humanoid robots industry is thriving with surplus product launches and acquisitions to keep up in the information revolution.

Few of the acquisitions in this market include:

In 2019, Boston Dynamics acquired a 3D vision startup called Kinema Systems. The latter was the world’s first producer of Deep-learning 3D Vision systems designed for industrial robots. As part of this acquisition, the robotic arm is redesigned and rebranded under Boston Dynamics. This acquisition takes Boston Dynamics to new heights in the Bay Area as well as in the logistics and warehouse applications.

In 2017, Google-owned Alphabet Inc. sold Boston Dynamics a robotics firm to Soft Bank, a Japan-based technology and telecom company. With this acquisition, Soft Bank continues to build advanced smart robots to benefit humans.

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