According to a recent report by MarketsandMarkets, the humanoid robot market is projected to grow from USD 2.03 billion in 2024 to USD 13.25 billion by 2029, with a compound annual growth rate (CAGR) of 45.5%. The report attributes this rapid expansion to rising demand for humanoid robots, particularly in the healthcare sector, where they assist medical professionals and enhance patient care by performing tasks such as collecting vital patient information.
Humanoid robots are increasingly being deployed in hospitals and medical centers, contributing to the market’s growth. The report also highlights the growing adoption of wheel-driven humanoid robots for use in controlled environments like warehouses and hospitals, where their hybrid design allows for smooth navigation.
The control systems segment is expected to hold the largest share of the humanoid robot market’s hardware segment in 2023, as these systems are crucial in processing data and controlling robotic functions. Additionally, the personal assistance and caregiving segment is projected to grow at the second-fastest CAGR from 2024 to 2029, as humanoid robots become increasingly used to support elderly care and patient assistance, particularly in developed regions with aging populations.
The Asia Pacific region is expected to see the fastest growth during the forecast period due to a rising elderly population and the presence of major humanoid robot manufacturers, particularly in Japan and China. Key players in the global humanoid robot market include SoftBank Robotics, ROBOTIS, Agility Robotics, UBTECH Robotics, and Pal Robotics.
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