The article explores the market size and region wise adoption of humanoid robots

Humans are always exploring new and innovative ways, that makes them the most advanced and intelligent creatures of nature. From an artificial intelligence system to research and development in robotics, all are the creations of humans' intelligent minds. And now it has entered in the race of making Humanoid robots. Today, the development of humanoids is increasing rapidly, and they are occupying a larger percentage of robotics research space.

The concept of humanoid robots has been with us for several decades, when Ron Wensley in 1927, developed a robot, named Herbert Televox. This was the first-ever humanoid robot, which could lift the receiver to take a telephone call and control simple processes by operating switches according to the signals it received. Though the robot lacked the ability to speak and only could listen with a sensitive microphone placed close to the telephone receiver and had able to respond to actions based on sound and pitch.

The modern concept of humanoids began to develop with the advent of the industrial revolution that enabled the use of complex mechanics. They are now used as a research tool in several scientific areas.

Humanoids are also utilized extensively in the military as most countries' military forces are exploring and experimenting with robots. For instance, Boston Dynamics' 6 feet, 2 inches humanoid robot, named Atlas. The robot is designed for high mobility and can negotiate outdoor, and rough terrain. In this article, Analytics Insight will take you through the market size and region wise adoption of humanoid robot.

Market Analysis: Adoption of Humanoid Robots

With the evolution of the fourth industrial revolution, the world has come to the edge of a seismic shift in robotics, from machines that just used for the design, construction, operation, and control to industrial robots capable of performing heavy works. The emergence of collaborative robots (Cobots) also have made its significance to the real world, working together with human workers in a shared space.

The latest iteration in robots now even talk, walk, and express a wide range of gestures like humans such as Sophia – the humanoid robot. Sophia, which was introduced by Hong Kong-based company Hanson Robotics two years ago. She is the most developed model in the ongoing trend of robotics. Currently, Sophia is treated like a star and has become the biggest indicator showing that this robotics trend will continue to rise.

According to Analytics Insight, the global market of humanoid robots is projected to reach from US$765.54 million in 2019 to US$8027.53 million by 2026, growing at a CAGR of 34.1%throughout the estimated timeframe.

On the basis of region, Asia Pacific is leading the humanoids market with a 62% adoption rate, followed by Europe (18%), North America (16%), and ROW (4%). In the Asia Pacific, the humanoid robot market was accounted for US$474.64 million in 2019 and is predicted to worth US$5571.60 million by 2026, at a growing CAGR of 36.1%. Conversely, in Europe, the market is expected to reach from US$137.80 million in 2019 to US$1365.68 million in 2026, at a CAGR of 33.2%.

In North America, the market will worth US$122.49 million to US$1010.29 million, with a CAGR of 30.2%, while in ROW, it will reach from US$30.62 million to US$79.96 million, at a CAGR of 12.7% during the period of 2019-2026.