The study involved four major activities in estimating the size of the humanoid robot market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information pertinent to this study. Secondary sources include annual reports, press releases, and investor presentations of companies; white papers, certified publications, and articles by recognized authors; directories; and databases. Secondary research has been mainly carried out to obtain key information about the supply chain of the humanoid robot industry, the value chain of the market, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, geographic markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
In the primary research process, extensive primary research has been conducted after understanding and analyzing the current scenario of the humanoid robot market through secondary research. Several primary interviews have been conducted with market experts from both the demand and supply sides across four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World. The primary sources from the supply side included various industry experts, such as chief experience officers (CXOs), vice presidents (VPs), directors from business development, marketing, product development/innovation teams, and related key executives from companies offering humanoid robots; industry associations; independent consultants and importers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, revenue generated from products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped understand various trends related to the offering, motion type, application, and regional markets. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of customers/end users, were interviewed to understand the buyer’s perspective on the suppliers, products, service providers, and their current use of humanoid robots and the future outlook of their businesses.
Note: RoW mainly includes the Middle East & Africa and South America. Other designations include product managers, sales managers, and marketing managers. Three tiers of companies have been defined based on their total revenue as of 2023; tier 3: revenue less than USD 100 million; tier 2: revenue between USD 500 million and USD 1 billion; and tier 1: revenue more than USD 1 billion.
About the assumptions considered for the study, To know download the pdf brochure
Market Size Estimation
Multiple approaches were adopted for estimating and forecasting the size of the humanoid robot market. The first approach involved the estimation of the market size by the summation of the company revenues generated through the sales and services of humanoid robots. The research methodology used to estimate the market sizes includes the following:
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Identifying verticals that are either using or will use humanoid robots
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Tracking the leading companies and system integrators catering to various applications
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Deriving the size of the humanoid robot market through the data sanity method; analyzing revenues of more than 30 key providers through their annual reports and press releases, and summing them up to estimate the overall market size
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Conducting multiple discussions with key opinion leaders to understand the demand for humanoid robots and analyzing the breakup of the scope of work carried out by each major company
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Carrying out the market trend analysis to obtain the CAGR of the humanoid robot market by understanding the industry penetration rate and analyzing the demand and supply of humanoid robots in different applications
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Assigning a percentage to the overall revenue or, in a few cases, to segmental revenues of each company to derive their revenues from the sale of humanoid robots. This percentage for each company has been assigned based on their product portfolios
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Verifying and crosschecking estimates at every level through discussions with the key opinion leaders, including CXOs, directors, and operation managers, and with domain experts at MarketsandMarkets
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Studying various paid and unpaid information sources such as annual reports, press releases, white papers, and databases
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Tracking the ongoing and identifying the upcoming projects related to humanoid robots by companies and forecasting the market size based on these developments and other critical parameters
Humanoid Robot Market Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall size of the humanoid robot market from the market size estimation processes explained above, the total market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends, and the market size has been validated using top-down and bottom-up approaches.
Market Definition
A humanoid robot resembles the human body in shape. It has a torso, a head, two arms, and two legs.; however, some humanoid robots replicate only a part of the human body. It is a complex machine equipped with hardware and software and can perform various tasks in different environments. Humanoid robots are mainly used in deep-ocean exploration, scientific research, complex medical surgeries, and household chores, among others.
Key Stakeholders
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Government bodies and policymakers
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Industry organizations, forums, alliances, and associations
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Market research and consulting firms
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Raw material suppliers and distributors
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Research institutes and organizations
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Traders and suppliers
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Raw material suppliers
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Original equipment manufacturers (OEMs)
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OEM technology solution providers
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Technology, service, and solution providers
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Intellectual property (IP) core and licensing providers
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Suppliers and distributors
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Forums, alliances, and associations
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Technology investors
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Research institutes and organizations
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Analysts and strategic business planners
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Market research and consulting firms
Report Objectives
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To describe and forecast the humanoid robot market size, by offering, motion type, and application, in terms of value
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To describe and forecast the humanoid robot market size across four regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW), along with their respective countries, in terms of value, and volume
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To provide detailed information regarding the major drivers, restraints, opportunities, and challenges influencing the market growth
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To analyze opportunities for stakeholders by identifying high-growth segments of the humanoid robot market
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To study the complete value chain of the humanoid robot market
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market size
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To strategically profile the key players and comprehensively analyze their market positions in terms of their rankings and core competencies2
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To analyze competitive developments, such as product launches, acquisitions, collaborations, and partnerships, in the humanoid robot market
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To provide ecosystem analysis, case study analysis, patent analysis, pricing analysis, Porter’s five forces analysis, key stakeholders & buying criteria, key conferences and events, and regulatory bodies, government agencies, and regulations pertaining to the market under study
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
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Further breakdown of the market in different regions to the country level
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Detailed analysis and profiling of additional market players (up to 5)
HIGHEST CAGR MARKET IN 2023
US FASTEST-GROWING MARKET IN THE REGION
Stein
Sep, 2018
We are interested in researching more capable social or service robots. Could you tell us your coverage for the humanoid robot market? .
Daniela
Nov, 2019
In the context of a growing market and a very strong competitive environment, we are always looking for solutions and services to make a difference for our clients and potential clients. Humanoid Robot is a very interesting subject that we are willing to discover in order to find areas where we can develop and implement. .