The humanoid robot market is valued at USD 1.8 billion in 2023 and is anticipated to be USD 13.8 billion by 2028, growing at a CAGR of 50.2% from 2023 to 2028. Factors such as the development of humanoid robots with advanced AI features, andgrowing penetration of humanoids as educational robots are expected to drive market growth during the forecast period.
Key players in the humanoid robot market include SoftBank Robotics (Japan), Honda Motor Co., Ltd. (Japan), Toyota Motor Corporation (Japan), ROBOTIS (South Korea), KAWADA ROBOTICS CORPORATION (Japan), UBTECH Robotics Corp. Ltd. (China), HANSON ROBOTICS LTD. (Hong Kong), PAL Robotics (Spain), HYULIM Robot Co., Ltd (South Korea), Hajime Research Institute, Ltd. (Japan), Engineered Arts Limited (UK), National Aeronautics and Space Administration (NASA) (US), ROBO GARAGE Co., Ltd. (Japan), Istituto Italiano di Tecnologia (IIT) (Italy), Robotics Lab (Spain), Samsung Electronics Co., Ltd. (South Korea), Promobot Corp.( US), EZ-Robot (Canada), Macco Robotics (Spain), Boston Dynamics (US), Advanced Telecommunications Research Institute International (ATR) (Japan), Wowwee Group Limited (Hong Kong), Kindred, Inc. (US), Tesla (US), and Agility Robotics (US)
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These companies have employed a variety of growth approaches, such as product launches and development, expansions, collaborations, and acquisitions, to compete in the humanoid robot market. Partnerships have been the key strategy of players from 2020 to 2022 for expanding their customer base and strengthening their product portfolio.
SoftBank Robotics is one of the leading providers of wheel drive and biped humanoid robots. Pepper robot developed by the company has been used in various verticals, such as banking, hospitality, healthcare, personal assistance, education, entertainment, and research. SoftBank Robotics focuses on creating humanoid robots that can be easily integrated into existing systems and workflows, making it easier for businesses to adopt and utilize robots across various industries and environments.
Honda Motor Co., Ltd.
Honda Motor Co., Ltd. is a Japanese multinational company well-known for manufacturing automobiles and motorbikes. The company operates through the following business segments: Automobile Business, Motorcycle Business, Financial Services Business, and Power products and Other Businesses. Honda represents its robotics technologies and products under the collective term Honda Robotics. Honda Robotics offers Advanced Step in Innovative Mobility (ASIMO)—a humanoid robot— UNI-CUB, a walking assist robot, and a high-access survey robot. Honda has continuously launched advanced versions of its humanoid ASIMO since its introduction in 2000.
Toyota Motor Corporation
Toyota Motor Corporation is engaged in the designing, manufacturing, assembling, and selling of motor vehicles and parts. Toyota has established Toyota Research Institute, Inc. (TRI) to expedite the research and development of artificial intelligence technology, which has great potential to support future industrial technologies. The company has launched its first humanoid robot named T-HR3, which mirrors the action of its remote human operator. It has a wide geographic presence across North America, Europe, Asia, Central and South America, and Africa.
Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is engaged in the manufacturing and selling of electronics and computer peripherals. The company operates through the following business divisions: Consumer Electronics (CE), Information Technology & Mobile Communications (IM), and Device Solutions (DS). Samsung Research is an advanced research and development (R&D) hub of the company’s Information Technology & Mobile Communications (IM) Division and Consumer Electronics (CE) Division. Samsung Research is working in collaboration with 14 overseas R&D centers located in 12 countries and seven global AI centers. It is involved in the core research themes, including artificial intelligence (AI), next-generation communication, data intelligence, robot, life care & new experiences, Tizen, security, and next-generation media. The company offers Roboray, a humanoid robot developed for professional and personal uses.
Humanoid Robot Market by Component (Hardware, Software), Motion Type (Biped, Wheel Drive), Application (Education and Entertainment, Research and Space Exploration, Personal Assistance and Caregiving) and Region - 2028
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