(PharmaNewsWire.Com, August 09, 2019 ) Robotic industry is witnessing a significant surge in past few years and the growth is not expected to cease anytime soon. Robots are taking over humans for performing critical and monotonous tasks and offer exceptional productivity and repeatability. Out of several forms and types of robots, humanoid robots have always created interest and are now playing a vital role across several end-use applications. Various factors such as rising adoption of humanoid robots in retail industry for personal assistance, increasing use of robot in education and research purposes, and significant technological advancement in the robotics are driving the growth of the humanoid robot market across the globe. In addition, rapidly ageing population as well as increasing number of rehabilitation centers are further augmenting the growth of the humanoid robot market as it can provide a helping hand to elderly people.
Software Dominate the Humanoid Robot Market in 2019
Based on components, humanoid robot market is classified into hardware and software. Software commanded the largest share in the humanoid robot market in 2018. Owing to extensive adoption of artificial intelligence algorithms in humanoid robots to boost robot’s performance, software segment is expected to retain its dominance throughout the forecast period.
Biped Motion Type Dominate the Humanoid Robot Market in 2019
Biped motion type commanded the largest share of the humanoid robot market in 2018. The share of this segment is mainly attributed to rising demand of biped robots as they are capable of walking on the feet like humans. In addition, the advancement in technology has made humanoid robots more stable with the precise movements, leading to its high demand from almost every application.
North America Dominates the Market, While APAC Leads the Growth
North America commanded the largest share of the humanoid robot market in 2018, followed by Europe and Asia-Pacific. The major share of this region is mainly attributed to the rising adoption of humanoids for all the major applications such as public relation, personal assistance and caregiving, and education and entertainment. However, Asia Pacific region is expected to register the fastest CAGR during the forecast period owing to growing geriatric population in major economies such as China, India, and Japan.
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 5 years (2015-2019). The key players operating in the global humanoid robot market are SoftBank Corp. (France), KAWADA Robotics Corporation (Japan), Honda Motor Co., Ltd (Japan), PAL Robotics (Spain), Toyota Motor Corporation (Japan), Hajime Research Institute, Ltd. (Japan), ROBOTIS (South Korea), HANSON ROBOTICS LTD. (Hong Kong), UBTECH Robotics, Inc. (China), DST Robot Co., Ltd. (South Korea), Engineered Arts Ltd (U.K.), ROBOTLAB Inc. (U.S.), Qihan Technology Co., Ltd. (China), Trossen Robotics (U.S.), and Willow Garage (U.S.).
Future Outlook
Nowadays, the humanoid robots have wide range of applications in many healthcare operations. Humanoid robots, equipped with proprietary “RxApplications”, are getting the clinical popularity in the pediatric care. Using research on cognitive-behavioral interventions, the humanoid robots can also function as companions during and after surgical procedures. In recent years, robots have been increasingly used in autism diagnosis and treatment as well. Humanoid robots are also used for assisting the elderly. Moreover, rising geriatric population across the globe are further creating lucrative opportunities for humanoid robot vendors.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
