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

Humanoid Robot Market, By Component (Hardwareand Software), By Application (Research & Space Exploration, Education & Entertainment, Personal Assistance & Caregiving, Hospitality, Search & Rescue, Others), By Motion Type (Biped and Wheel-drive), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

  • Published In : May 2024
  • Code : CMI7025
  • Pages :143
  • Formats :
      Excel and PDF
  • Industry : Smart Technologies

Regional Analysis

Humanoid Robot Market Regional Insights

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North America has emerged as the dominant region in the global humanoid robot market with estimated 41.7% market share in 2024. The region is home to some of the leading robotics companies such as Boston Dynamics, Anthropic, and Agility Robotics. These companies have been at the forefront of developing cutting-edge humanoid robot technologies for various applications. In addition, large technology giants like Google, Amazon, Microsoft and Apple are increasingly investing in human-like robotics research and development centers in the US, aiming to commercialize humanoid robots over the next decade.

The region also has a highly skilled workforce which is supporting continued innovation in areas like artificial intelligence, computer vision, machine learning and advanced robotics. Government initiatives promoting robotics technologies coupled with presence of early technology adopters have further boosted the regional market. North American universities are collaborating closely with robotics startups to advance research. This strong industry-academia partnership is proving pivotal for consolidating the region's leadership.

China, on the other hand, has emerged as the fastest growing regional market for humanoid robots. The government's aggressive 'Made in China 2025' initiative has encouraged both foreign and domestic companies to set up localized production and expand R&D facilities in the country. This is attracting more investments towards developing inclusive and assistive humanoid robots. Chinese technology giants like Baidu, Alibaba and several newer startups have already made progress in building affordable yet capable humanoid designs.

China also has a large manufacturing base and a huge potential consumer market for service robots. The country is investing heavily to automate various industries using collaborative robots that can work alongside humans seamlessly and safely. This is generating significant demand for more human-centric robot designs. Additionally, growing expertise in technologies like edge and cloud computing is enabling Chinese OEMs to bring humanoid robots with advanced cognitive abilities in the coming years. Their lower manufacturing costs compared to North America and Europe is making Chinese humanoid robots increasingly competitive globally as well.

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