Press Release / Technology / Humanoid Robot Market by Component and Application - Global Forecast 2023

Humanoid Robot Market by Component and Application - Global Forecast 2023

The humanoid robot market is highly competitive with a significant number of big and small players. The market is largely dominated by companies in APAC, followed by those in Europe. While the big players dominate the market through their brand image, the small players offer low-cost components and generate pricing pressure in the market. As of 2016, the humanoid robot market was dominated by SoftBank (Japan), ROBOTIS (South Korea), KAWADA ROBOTICS (Japan), Honda Motor (Japan), UBTECH ROBOTICS (China), Hajime Research Institute (Japan), Hanson Robotics (Hong Kong), DST Robot Co. (South Korea), PAL Robotics (Spain), Toyota Motor (Japan), ROBO GARAGE Co. (Japan), Istituto Italiano di Tecnologia (Italy), Engineered Arts (UK), Robotics Lab (Spain), and National Aeronautics and Space Administration (NASA, US), among others. These top players have strong presence in the humanoid robot market.



Most players have adopted the strategy of product launches to achieve growth and stay competitive in the humanoid robot market. This strategy accounted for a share of ~40% of all the growth strategies adopted by players between January 2015 and June 2017. Increasing demand for technically advanced robots, high sensing capabilities, and the emergence of various new applications in industries such as education, research and space exploration, personal assistance and caregiving, search and rescue, and entertainment encouraged companies to adopt this strategy. Besides product launches, companies adopted the strategies of expansions, acquisitions, agreements, and collaborations to expand their product portfolio, and sales and distribution network, and strengthen their share and position in the overall humanoid robot market. These strategies collectively accounted for a share of ~60% of the total strategic developments in the overall humanoid robot market between January 2015 and June 2017.



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SoftBank (Japan) is a holding company engaged in the management of its group companies. It provides information technology and telecommunications services. The company was founded in September 1981 and is headquartered in Tokyo, Japan. The company operates its business through the following segments: Domestic Telecommunications, Sprint, Yahoo Japan, Distribution, Arm, and Others. The Others segment handles business related to robotics; hence the reportable segment of SoftBank Robotics Holdings Corp. (Japan) is Others. The company has adopted inorganic growth strategies and entered into an agreement to acquire Boston Dynamics (US) and Schaft (Japan) from Alphabet (US) in June 2017. The transaction aligns with SoftBank’s investments in paradigm-shifting technologies and its vision of catalyzing the next wave of smart robotics. Softbank’s humanoid robot offerings include NAO, Pepper, and Romeo.



ROBOTIS (South Korea) provides robotic solutions in South Korea and internationally. The company was founded in 1999 and is based in Seoul, South Korea. The company offers smart actuators for building multi-jointed robots that are used in DIY, education, and research sectors; miniature humanoid robotic platforms and manipulators; 3D printable and programmable humanoid kits; DIY kits for school projects; as well as performance humanoid robots for racing, soccer, fighting, and other activities. It also provides ARM Cortex-M3-based embedded controllers with open circuit diagram and source code; and mobile solutions comprising education smartphone applications. The company enjoys a worldwide reach through a huge distribution network consisting of resellers in almost every region. ROBOTIS has a wide product portfolio of humanoids, which include BIOLOID, ROBOTIS-MINI, Dynamic Anthropomorphic Robot with Intelligence-Open Platform (DARwIn-OP), ROBOTIS OP2, ROBOTIS OP3, THORMANG3, and ROBOTIS MINI.



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