Humanoid Robot Market Size

Humanoid Robot Market Size

Humanoid Robot Market size valued at USD 450 million in 2016 and will grow at a CAGR of over 35% from 2017 to 2024. The global shipments are expected to reach 1 million units by 2024.

The increasing popularity of companion robotic technology in research, healthcare, and hospitality sectors to gain enhanced assistance & operational efficiency is driving the humanoid robot market. These products are finding applications in the healthcare sector as medical assistants & training aids, further adding up to the demand. The rapid development & transformation of the medical infrastructure by implementing robotic & digitally advanced products for enhanced patient care & engagement supports robot deployment. Additionally, changing dynamics in industrial & manufacturing sectors, which include robotic additions to aid employees & workers is adding up to the industry expansion. These products are utilized to perform engineering tasks in various industries to eliminate human involvement in dangerous tasks and allow them to focus on high-value operations.

To get key market trends

  Download Free Sample

The human-like robots face technical and power-related issues, limiting their performance and active time. The low battery life limits prolonged operations in these machines, creating assistance issues in several industries. Due to a limited battery life, these products cannot be utilized in long-term operations and create human dependability concerns. Extended batteries and the use of long lifetime components in manufacturing these products can eliminate quick discharging issues and increase operational efficiency.