Ocean View, DE -- (SBWIRE) -- 04/20/2020 -- Primarily driven by the advent of automated machines to perform basic labor tasks, humanoid robot market is poised to gain immense momentum in the construction sector. Construction application, in fact is estimated to expand at a double-digit CAGR of 19.5% over 2017 to 2024. The increasing investments in infrastructure development will favor the industry demand.
There have been several innovations in the construction vertical indicating a vast potential for humanoid robot deployment. The launch of construction-specific robotic systems that is claimed to complete the installation of drywall installation without human intervention is indeed a breakthrough.
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One of the most prominent players of humanoid robot market, Boston Dynamics, has come up with a humanoid biped robot Atlas that can walk and run like a human and can also rescue humans from disaster zones without requiring any additional rescue tools.
NASA has also developed a biped robot, Valkyrie, with a softer exterior. Valkyrie had been developed with an intention to be deployed for future NASA missions as a pre-cursor bot, undertaking essential tasks related to the mission before humans arrive. Unlike wheeled robots, these bipeds can handle stairs as well.
It is prudent to mention that wheel drive humanoid robot market has been on quite a roll in recent times. These bots are primarily used by online food delivery companies. A fleet of 10 wheeled robots manufactured by Starship Technologies, equipped with radar, cameras, sensors and GPS, have been deployed for food delivery around London. The fleet has already made 1000 deliveries around the capital city. The bots are so designed that if anyone would attempt a robbery from the machines, an alert is sent to the control center with a photograph of the thief. This exemplifies the extent of tech advancements in bot technology, which is certain to augment humanoid robot market share.
Europe has been one of the prominent regions where government regulations has largely swayed humanoid robot market trends. The striving efforts undertaken by the EC towards infrastructural enhancement and deployment of automation technologies has favored humanoid robot industry outlook across the continent. Moreover, stringent regulatory mandates towards ensuring worker safety in case of accidents and emergencies will further encourage humanoid robot adoption across various industries.
These initiatives are also implemented on a broader scale through combined efforts of the private and public sectors. In a recent turn of events, University of Pisa in collaboration with Istituto Italiano di Tecnologia detailed the development of a humanoid robot which will be used to handle emergencies associated with natural disaster, factory accidents, etc.
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Asia Pacific is forecast to be one of the leading avenues for the growth of humanoid robot industry. Many Chinese manufacturing companies are replacing humans with robots for processes involving repetitive movements. Multilingual androids, for example, are being used to greet customers in the Bank of Tokyo-Mitsubishi, while at the Hen-na hotel in Nagasaki, robots are used to check in guests. A humanoid robot called Ri-Man has been developed in Japan to help the elderly as well – Ri-Man apparently can lift the disabled people out of wheelchairs and into beds and help in household work. China and Japan thus, have emerged as the leaders when it comes to deploying humanoids to help the elderly population, thus stimulating APAC humanoid robot market outlook.
As per estimates, humanoid robot industry size is expected to surpass USD 5 billion by 2024. The business space however, is posed with a challenge to turn research notions into a physical product that can be mass produced for profit. It is forecast that businesses in the future would increasingly be deploying humanoid technology to enhance customer experience and increase productivity, which would impel humanoid robot market trends. The entry of new industry players and the prevalence of numerous R&D activities would also boost humanoid robot market.
Table of Contents (ToC) of the report:
Chapter 4. Humanoid Robot Market, By Product
4.1. Global humanoid robot market share by product, 2016 & 2024
4.2. Wheel drive
4.2.1. Market estimates and forecast, 2015 - 2024
4.2.2. Market estimates and forecast, by region, 2015 - 2024
4.3. Biped
4.3.1. Market estimates and forecast, 2015 - 2024
4.3.2. Market estimates and forecast, by region, 2015 – 2024
Chapter 5. Humanoid Robot Market, By Application
5.1. Global humanoid robot market share by application, 2016 & 2024
5.2. Retail
5.2.1. Market estimates and forecast, 2015 - 2024
5.2.2. Market estimates and forecast, by region, 2015 – 2024
5.3. Hospitality
5.3.1. Market estimates and forecast, 2015 - 2024
5.3.2. Market estimates and forecast, by region, 2015 – 2024
5.4. Healthcare
5.4.1. Market estimates and forecast, 2015 - 2024
5.4.2. Market estimates and forecast, by region, 2015 - 2024
5.5. Education & scientific research
5.5.1. Market estimates and forecast, 2015 - 2024
5.5.2. Market estimates and forecast, by region, 2015 – 2024
5.6. Residential
5.6.1. Market estimates and forecast, 2015 - 2024
5.6.2. Market estimates and forecast, by region, 2015 – 2024
5.7. Military & defense
5.7.1. Market estimates and forecast, 2015 - 2024
5.7.2. Market estimates and forecast, by region, 2015 – 2024
5.8. Construction
5.8.1. Market estimates and forecast, 2015 - 2024
5.8.2. Market estimates and forecast, by region, 2015 - 2024
5.9. Underwater systems
5.9.1. Market estimates and forecast, 2015 - 2024
5.9.2. Market estimates and forecast, by region, 2015 - 2024
5.10. Others
5.10.1. Market estimates and forecast, 2015 - 2024
5.10.2. Market estimates and forecast, by region, 2015 – 2024
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