Humanoid Robot Global Market Report 2024

The humanoid robot market size has grown exponentially in recent years. It will grow from $2.44 billion in 2023 to $3.7 billion in 2024 at a compound annual growth rate (CAGR) of 51.6%. The growth observed in the historical period can be attributed to increasing labor costs, a rising interest in automation, the demand for efficiency, growth in the manufacturing industry, and the globalization of supply chains.

The humanoid robot market size is expected to see exponential growth in the next few years. It will grow to $19.69 billion in 2028 at a compound annual growth rate (CAGR) of 51.9%. The anticipated growth in the forecast period can be attributed to expanding applications in healthcare, a rising demand for personal assistance robots, evolving consumer preferences, increased funding in robotics research, and the demand for collaborative robots. Major trends expected in the forecast period include customization and personalization, a focus on safety features, the adoption of cloud robotics, the emergence of socially intelligent robots, and sustainability initiatives.

The humanoid robot market is experiencing growth driven by an increasing demand for humanoid robots in the medical sector. The medical sector, encompassing a wide range of organizations and professionals providing medical services, treatments, and products, is witnessing a rising adoption of humanoid robots. These robots offer various benefits such as efficiency, personalized care management, and enhanced accuracy in diagnosis. According to the International Federation of Robotics (IFR) in October 2022, the medical sector employed 14,800 service robots in 2021, marking a 23% increase from 2020. This surge in the use of humanoid robots in the medical field is a significant factor driving the overall growth of the humanoid robot market.

The humanoid robot market is set to experience further expansion due to the increasing trend of automation. Automation involves the use of technology, machinery, or systems to perform tasks with minimal human intervention. Humanoid robots play a crucial role in automating complex tasks, improving efficiency, and collaborating with human workers, leading to streamlined production processes and increased productivity. A survey conducted by ABB Robotics, a Switzerland-based robotic machinery manufacturer, in September 2021 revealed a notable shift in attitudes towards automation in the UK manufacturing sector. Approximately 81.2% of surveyed companies expressed consideration for robot investments, highlighting the growing acceptance of automation. As robots are seen as potential solutions, 48.8% of respondents indicated a likelihood of investing in automation within the next five years, with 50.4% recognizing robots as aids in complying with social distancing requirements. Consequently, the increasing trend of automation is a key driver for the humanoid robot market.

The humanoid robot market is witnessing a key trend characterized by technological improvements. Major companies in this market are actively engaged in developing technologically advanced robots to maintain their competitive positions. An example of this trend is Xiaomi, a China-based technology company, introducing the CyberOne humanoid robot in August 2022. This bipedal robot incorporates advanced features, including an AI-based full-sized humanoid frame generating peak torque of 300 nm and supporting 21 degrees of freedom in motion. Additionally, it utilizes Mi-Sense depth vision technology to visually process individual gestures, expressions, and reactions.

Major companies operating in the humanoid robot market are increasingly focusing on introducing advanced robots, such as warehouse robots. Warehouse robots are automated machines designed for various tasks within a warehouse or distribution center, including inventory management, order picking, packing, and goods transportation. Amazon, a US-based e-commerce giant, exemplifies this trend by launching Digit, a humanoid bipedal robot designed to collaborate with employees in its warehouses rather than replace them. This robot, developed by Agility Robotics, is part of Amazon's investment strategy in the field of robotics.

In June 2021 Hyundai Motor Group, a South Korea-based motor vehicle company, acquired Boston Dynamics, Inc., for $1.1 billion. This strategic acquisition has positioned Hyundai Motor Group as a leading player in the robotics industry and has facilitated its transformation into an innovative mobility solutions provider. Boston Dynamics Inc., based in the United States, is renowned for manufacturing highly mobile robots, including humanoid robots.

Major companies operating in the humanoid robot market report are Toyota Motor Corporation, Samsung Electronics Co. Ltd., Honda Motor Co. Ltd., SoftBank Corp., Toshiba Corporation, KUKA Robotics Corp, Instituto Italiano Di Technologia, Ubtech Robotics Corp. Ltd., HYULIM Robot Co. Ltd., ZMP Inc., Cyberdyne Inc., Agility Robotics Inc, WowWee Group Limited, Apptronik Inc., Pal Robotics S.L., Shadow Robot Company Ltd., F&P Robotics AG, Engineered Arts Limited, Beyond Imagination Inc, Macco Tecnologia Para el Ocio Sociedad Limitada, Trossen Robotics LLC, Hanson Robotics Limited, Furhat Robotics AB, Universal Robots Inc., Robo Garage.Co.Ltd., KAWADA Robotics Corporation, Figure AI, 1X Technologies AS, Intuitive Robots, Qihan Technology Co. Ltd.

North America was the largest region in the humanoid robot market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the humanoid robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the humanoid robot market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary components of humanoid robots include hardware, software, and services. Hardware encompasses the tangible and visible components of a system. Various motion types, such as biped and wheel drive, are applied in diverse fields including education and entertainment, research and space exploration, personal assistance and caregiving, search and rescue, public relations, and others.

The humanoid robot market research report is one of a series of new reports that provides humanoid robot market statistics, including humanoid robot industry global market size, regional shares, competitors with a humanoid robot market share, detailed humanoid robot market segments, market trends and opportunities, and any further data you may need to thrive in the humanoid robot industry. This humanoid robot market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The humanoid robot market consists of sales of DC motor-driven robots, brushless DC motor robots, linear actuator robots, stepper motor-driven robots, and mobility gearmotor-driven robots. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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