“Humanoid Robot Market Set for Expansion by 2024”

The global market for humanoid robots is expected to witness significant growth in the coming years, with an increase in demand for service robotics in various sectors. A report suggests that the humanoid robot market may reach $3.9 billion by 2024.

Rising Demand for Service Robotics

The demand for service robotics is increasing in several sectors such as healthcare, education, retail, and others. These humanoid robots are equipped to perform tasks that are difficult for humans, increasing productivity and efficiency.

Advancements in Artificial Intelligence

Artificial intelligence (AI) is playing a crucial role in the development of humanoid robots. With AI, these robots can learn, adapt, and interact in a more human-like manner, enhancing their utility and appeal.

Competitive Market Landscape

Several prominent players are involved in the humanoid robot market, including SoftBank Robotics, Hanson Robotics, and Boston Dynamics. These companies are investing heavily in R&D to develop advanced humanoid robots.

As technology evolves, the demand for humanoid robots is set to increase exponentially. With advancements in AI and an increasing need for service robotics in various sectors, the humanoid robot market could reach a valuation of $3.9 billion by 2024.