The market is expected to see an increase in the use of humanoid robots for education, and retail industry, to better personalize customer support. Moreover, the medical and logistics sectors are also interested in integrating more artificial intelligence (AI) via robots, as do industries that run autonomous rescue operations. During the forecast period, the major companies are expected to focus on the way humanoid can efficiently be used as personal assistants in various applications. Also, as the demand for non-industrial robots is increasing, the market is poised to witness high demand over the next decade.
1. Softbank Robotics
The company offers solutions, like Pepper, NAO, and Romeo Project. These humanoid have applications in education and hospitality sectors, along with being used as personal assistants. It is one of the few companies that provides humanoid having both wheel drive (Pepper), and biped (NAO) motion.
The company focuses on AI to provide its customers an enhanced humanoid experience. Its facility, the A-Labs, consists of the research team of SoftBank Robotics. Moreover, Softbank is having robust financial backing from its parent company, as it aims to further expand its product portfolio in the humanoid market. As a part of its strategy, its parent company acquired two more robotics companies from Alphabet to move deeper into the field. It bought Big Dog developer Boston Dynamics and the secretive bipedal robotics firm Schaft in 2017.
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2. Toyota Motor Corporation
Toyota provides humanoid under the name ‘Toyota Partner Robots.’ It entered the market in 2005 and has since launched robots. The humanoid provided by the company has applications mainly related to personal assistance, and entertainment. Partner Robot technology was designed under the concept of “harmony with people.” Its latest product, the T-HR3, which was launched in 2017, assists humans at home, medical facilities, construction sites, disaster-stricken areas, and even outer space.
Just like its rival Softbank, the company’s robotic arm is also funded by its parent company, which has allowed it to expand its product portfolio and acquire several companies over the years. In 2017, it acquired Bastian Solutions LLC, Indianapolis-based warehouse automation, and robotics developer. It was in line with its aim to enter the US logistics market. The company paid USD 260 million for Bastian. Furthermore, the company announced a USD 100 million for AI and robotics startup funding in 2017.
3. Honda Motor Co. Ltd
The company has only one product in the humanoid market, the ASIMO. It is a result of two decades of research by the company. It is used for assisting elderly people. It can also work as a firefighter and to clean-up toxic spills.
Moreover, robust financial backing by the automobile major has allowed advancements in ASIMO over the years. It announced new R&D group called R&D Center X. The new unit began operations in April 2017. It focuses on robotics, artificial intelligence, and various other technologies.
The report also examines the role of the leading market players involved in the industry. Some of the key players listed in the study are:
Kawada Robotics Corporation
Ubtech Robotics Inc.
About the Humanoid Market
As per Mordor Intelligence’s analysis, the Humanoid Market was valued at USD 287.86 million in 2017 and is estimated to reach USD 2,337.54 million by 2023, registering a CAGR of 41.93% over the forecast period of 2018-2023.