Selbyville, Delaware, Jan. 08, 2020 (GLOBE NEWSWIRE) --
According to latest report “Humanoid Robot Market by Product (Wheel Drive, Biped), Application (Retail, Hospitality, Education & Scientific Research, Healthcare, Residential, Military & Defense, Construction, Underwater Systems), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2024”, by Global Market Insights, Inc., the industry valuation for humanoid robots will reach $5.5 billion by 2024.
Asia Pacific humanoid robot market is anticipated to witness huge adoption and will dominate the revenue share. It can be attributed to increasing R&D investments coupled with the presence of large number of players operating in the industry. Increasing adoption of the robots across department stores, banks, hotels and airports will drive the regional market growth.
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MEA humanoid robots market is estimated to grow at around 30% CAGR in terms of revenue during the forecast timeline due to growing deployment of the robots for patrolling busy areas, as a part of government initiative aimed at replacing human security staffs with robots.
Growing adoption in military & defense industry for security & surveillance applications across various check points will drive the humanoid robot market value. On account of the enhanced capabilities of the robots such as auto detection of trespassers and sounding alarm to inform the security personnel for unauthorized intrusion, these robots are witnessing rise in adoption to provide effective protection of people and property.
The wheel drive robot segment is set to register gains at around 35% through 2024 impelled by increasing deployment across various industry verticals such as retail, healthcare, education and hospitality to enrich the overall customer experience. Considering the importance of customer service, the robots are used to help human staff with a whole lot of tasks required to provide each customer with personalized service.
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Hospitality applications provide significant opportunities to the humanoid robot market on account of increasing its use to effectively reduce costs and streamline various business processes. The integration of advanced capabilities will improve the operational efficiency and reduce the error margin to a great extent.
Some of the players in the humanoid robot industry include Qihan Technology, Softbank Robotics, Robotis, Ubtech Robotics Inc., DST Robot, Bluefrog Robotics, Engineered Arts, Trossen Robotics, Kawada, Hanson Robotics, Honda, Toshiba and Hajime Research Institute.
Browse key industry insights spread across 180 pages with 223 market data tables & 24 figures & charts from the report, “Humanoid Robot Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/humanoid-robot-market
Table of Contents (ToC) of the report:
Chapter 3. Humanoid Robots Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2024
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Software providers
3.3.3. Technology providers
3.3.4. Service providers
3.3.5. System integrators
3.3.6. Vendor matrix
3.3.7. Distribution channel analysis
3.4. Technology & innovation landscape
3.4.1. Evolution of robotics
3.4.2. Artificial Intelligence
3.4.3. IoT
3.4.4. Video analysis
3.4.5. Big data
3.4.6. Machine learning
3.4.7. Machine vision recognition
3.4.8. Augmented/virtual reality
3.4.9. Biometric technology
3.5. Pricing trend analysis
3.6. Regulatory landscape
3.6.1. China
3.6.2. Japan
3.6.3. U.S.
3.6.4. EU
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.1.1. Increasing demand to enhance the customer experience in China & Japan
3.7.1.2. Technological advancements in the China & Japan
3.7.1.3. Declining cost of hardware components in China
3.7.1.4. Growing demand from retail sector in APAC
3.7.1.5. Increasing adoption in education sector across LATAM & Europe
3.7.1.6. Rise in demand from healthcare sector in Japan
3.7.1.7. Rising investments by government in North America
3.7.1.8. Surge in demand for military & defense applications across North America & MEA
3.7.1.9. Demand from universities and research institutes in Europe and North America
3.7.2. Industry pitfalls & challenges
3.7.2.1. High initial cost
3.7.2.2. Technical challenges
3.7.2.3. Rising R&D expense
3.8. Growth potential analysis
3.9. Porter's analysis
3.10. Company market share analysis, 2016
3.10.1. Strategy dashboard
3.10.2. Investment landscape
3.11. PESTEL analysis
Browse Complete Table of Contents (ToC) @
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.