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Humanoid Robot Market Trends

  • Report ID: GMI2200
  • Published Date: Aug 2024
  • Report Format: PDF

Humanoid Robot Market Trends

The humanoid robot industry is experiencing rapid growth driven by technological advancements and increasing demand for automation across various sectors. Innovations in artificial intelligence (AI) and machine learning are enhancing the capabilities of humanoid robots, enabling them to perform complex tasks and interact more naturally with humans. For instance, AI models like GPT-5 are being integrated into humanoid robots to improve their reasoning and decision-making abilities, enabling them to interpret complex commands and execute sophisticated tasks. Additionally, the integration of the Internet of Things (IoT) and 5G technology enhances the connectivity and responsiveness of these robots, making them more efficient in various applications. For instance, in March 2024, NVIDIA announced Project GR00T, a general-purpose foundation model designed to drive breakthroughs in humanoid robotics and embodied AI. GR00T, which stands for Generalist Robot 00 Technology, aims to enable humanoid robots to understand natural language, emulate human movements, and quickly learn skills like coordination and dexterity to navigate and interact with the real world.
 

Moreover, the aging global population is creating substantial demand for humanoid robots in healthcare and personal assistance roles. These robots can provide essential services such as mobility support, medication reminders, and companionship, addressing the needs of the elderly and alleviating pressure on caregivers. Additionally, humanoid robots are increasingly utilized in eldercare facilities and private homes for routine monitoring and emergency response, enhancing the safety and well-being of senior citizens. Their ability to interact empathetically and adapt to individual preferences makes them valuable companions, helping to combat loneliness and improve overall quality of life. This growing need for elderly care solutions is a major factor driving the expansion of the market, prompting continued investment in technologies that cater to this demographic shift.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size for humanoid robot was valued at USD 4.16 billion in 2023 and is anticipated to register over 37% CAGR from 2024-2032 due to technological advancements and the global aging population

The retail application segment in the humanoid robot industry is projected to reach USD 20 billion by 2032 owing to the need for transforming customer interactions and operational efficiency.

Asia Pacific market recorded over 53% share in 2023, driven by rapid technological advancements and significant investments in robotics.

SoftBank Robotics, Honda Motor Co., Ltd., Toyota Motor Corporation, ROBOTIS, KAWADA ROBOTICS CORPORATION, UBTECH Robotics Corp. Ltd., and HANSON ROBOTICS LTD.

Humanoid Robot Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 24
  • Tables & Figures: 384
  • Countries covered: 20
  • Pages: 270
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