HUMANOID ROBOT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Caring for the elderly people becomes a massive undertaking as these people require assistance for their daily activities and may suffer from limited mobility or health conditions like Alzheimer's. Many families struggle to balance work with providing personalized care and supervision to their aging parents or relatives. Nursing homes and retirement communities provide an option but can be very expensive for most people. This is where humanoid robots come into the picture as a viable alternative for assisting the elderly population. Robots can perform simple care tasks like dispensing medication on schedule, assisting with bathing or mobility, keeping watch for safety 24/7 and even providing mental stimulation through interaction. Their use can alleviate the physical and mental burden on human caregivers while allowing the elderly to remain in the comfort of their own homes for as long as possible. Various pilot projects show promising results of how robots are able to support independent living especially for those with mild to moderate care needs. With further advancement in artificial intelligence and capacity for complex tasks, humanoid robots may gradually take over more healthcare responsibilities from humans, thus, addressing the looming shortage of professional caregivers.

• Samsung Electronics
• Qihan Technology
• Toshiba
• Honda Motor Co. Ltd
• Instituto Italiano Di Technologia
• Toyota Motor Corporation
• Ubtech Robotics
• Pal Robotics
• Hanson Robotics
• DST Robot
• Kawada Robotics
• Robo Garage
• Engineered Arts
• WowWee Group
• ROBOTIS
• SoftBank Corporation.