DUBLIN --(BUSINESS WIRE)
The "Humanoid Robot Market by Component, Motion Type (Biped & Wheel Drive), Application (Education and Entertainment, Research & Space Exploration, Personal Assistance & Caregiving, Search & Rescue, Public Relations) & Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The humanoid robot market is expected to reach USD 3,962.5 million by 2023 from USD 320.3 million in 2017, at a CAGR of 52.1% between 2017 and 2023
This growth can be attributed to the introduction of advanced features in humanoid robots, the increasing use of humanoids as educational robots, and growing demand from the retail industry for personal assistance. However, high initial cost and R&D expenses restrict the growth of the humanoid robot market.
The humanoid robot market for the biped motion type is expected to grow at a higher CAGR between 2017 and 2023. At present, biped humanoid manufacturers are facing several challenges in terms of robot stability and movement speed issues, and its capability to move around in different terrains. This is limiting its use in several applications, such as space exploration, search and rescue, and public relations, where the movement of the robot at high speed and in various terrains is a requirement.
The hardware component held a larger share of the humanoid robot market in 2016. The hardware components add major value to the overall humanoid robot as they make robots look like humans. Among different hardware components, control systems accounted for the largest market share in 2016.
The humanoid robot market for the education and entertainment application is expected to grow at the highest CAGR during the forecast period. Humanoid robots have the ability to assist and even replace teachers in classrooms; hence, schools are looking forward to deploying humanoids in their classrooms to attract the attention of parents by modernizing the teaching pattern.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Humanoid Robot Market, By Component
7 Humanoid Robot Market, By Motion Type
8 Humanoid Robot Market, By Application
9 Humanoid Robot Market, Geographic Analysis
10 Competitive Landscape
11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/zf8rzl/humanoid_robot
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Related Topics: Robotics
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