humanoid robot market Size in Asia Pacific region is expected to witness high growth over 2024

Asia Pacific humanoid robot market will witness high growth over the forecast timeline. The growth can be attributed to growing demand of these robots in emerging economies such as China and Japan. Moreover, the increasing number of players entering the industry with advanced technologies further contributes to the regional growth. The growing adoption for security and surveillance applications across security check points is expected to fuel the MEA market growth.

In the recent times, humanoid robot market has gained an exceptional prominence owing to the extensive demand for automation across the globe. Leading companies have been developing computerized machines to cater a diverse end-use arena for decades, however, rapid progression in technological and research space, since last few years, has enabled industry players to manufacture advanced robots that are capable of executing complex tasks. In consequence, this has led to a dynamic and swift evolution of industry that now boasts of producing robots which are adept in utilizing emotion recognition technology to provide personalized recommendations to the customers of various business verticals.

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Elaborating further, it is imperative to note that the robotic process automation has been implemented for decades, but the robots which were manufactured mainly deployed in the industrial sector and scarcely resembled the intricacies of human characteristics. This shortcoming is now being fulfilled with the enormous efforts to launch highly efficient and advanced humanoid robots market, which would eventually foster industry progression in the ensuing years.

Recently, Saudia Arabia created a flurry across the globe by becoming the first country to grant its full citizenship to a humanoid robot. The robot, christened as Sophia, has been manufactured by Hanson Robotics, a leading humanoid robot market giant based in Hong Kong. Interestingly, Sophia was named among the five knowledge ambassadors in the recently concluded Knowledge Summit in Dubai.

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Till date, Sophia has appeared in numerous interviews, sang in a concert, met with vital decision makers of various industries including auto manufacturing, insurance, banking, and property development among others, demonstrating the potential of robot brethren and exemplifying the extent of flourishing technological progress which is bound to accentuate humanoid robot market share.

As per recently published news report, a humanoid robot market, named as Farah, initiated work as a receptionist at Smart Dubai, a UAE government’s establishment. In the three-month-long experiment, touted to be first of its kind in the Middle East, Farah would interact with customers and enable them to register for meetings. Standing 1.5-meter-tall, the robot would lead the customers to the waiting hall or the meeting room.

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The surging adoption of robots over human security staff for patrolling and monitoring busy areas has fueled the humanoid robot market in the Middle East. The regional governments, of late, have been aiming to lower the rising work-related stress among the police force by incorporating robots to collect evidence and track the suspects. Dubai Police, for instance, has recently deployed UAE’s first Robocop, which will be used to nab parking fee dodgers and chase down suspects. Created by PAL Robotics, the uniformed bot is being described as the world’s first operational police robot.

which has intensified the competitive landscape of this industry. With the new entrants attempting to bring in advanced robots and the existing industry giants investing heavily in R&D activities, in a bid to reduce the cost of production, the global market is set to garner considerable remuneration over the forthcoming years. Humanoid robot market size, as per a report of Global Market Insights, Inc, is estimated to surpass USD 5 billion by 2024.

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