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Humanoid Robot Market worth $13.25 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 9, 2024 /PRNewswire/ — The humanoid robot market to grow from USD 2.03 billion in 2024 and is expected to reach USD 13.25 billion by 2029, growing at a CAGR of 45.5% from 2024 to 2029 according to a new report by MarketsandMarkets™. The key factors leading to the growth of the humanoid robot market include the increasing demand for humanoid robots for medical applications. There is an increasing demand of humanoid robots in the healthcare industry as they offer assistance to medical professionals as well as enhance the quality of care to the patients. Humanoid robots are being widely deployed in hospitals and medical centers, where they perform a variety of tasks and functions such as collection of patient information, allowing humanoid robots to interact with patients and gather vital data.

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Browse in-depth TOC on “Humanoid Robot Market” 
258 – Tables
66 – Figures
280 – Pages

Humanoid Robot Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 2.03 billion

Estimated Value by 2029

$ 13.25 billion

Growth Rate

Poised to grow at a CAGR of 45.5%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Offering, Application and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Performance limitations of humanoid robots in complex environments

Key Market Opportunities

Rapidly growing geriatric population in developed countries

Key Market Drivers

Integration of advanced features in humanoid robots

Wheel driven humanoids to hold second largest share of humanoid robot market from 2024 to 2029.

Wheel-driven humanoids are increasingly favored for applications requiring efficient movement over flat surfaces, such as warehouses, factories, and hospitals. This hybrid design allows robots to navigate smoothly and quickly in controlled environments, where legs may be less practical. Enhanced robotics engineering has enabled these humanoids to transition between wheels and legs, providing versatility in terrain navigation.

Control Systems/Controllers segment to hold largest share in 2023.

Control Systems/Controllers sub-segment accounted for the largest share of the humanoid robot industry for hardware in 2023. The control system is the brain of a humanoid robot. It processes the data received by the sensor system and provides commands to the actuators to act accordingly based on the output of the decision process. The controller is the most essential and valuable part of a humanoid robot. Its price increases based on the complexity of the robot, resulting in maximum value addition to the overall humanoid robot hardware circuitry.

Personal Assistance & Caregiving to grow at second fastest CAGR from 2024 to 2029

The personal assistance & caregiving segment accounted for the second fastest CAGR during forecast period 2024 to 2029. Humanoid robots are ideal for personal assistance and caregiving to patients and old people at hospitals and homes. Both biped and wheel-drive humanoid robots are being highly used in personal assistance and caregiving applications. Humanoid robots use equipment and tools designed for humans to carry out similar tasks. They also engage in meaningful social interactions with elderly people and provide a psychological perspective of caregiving.

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Asia Pacific is expected to achieve the fastest CAGR during the forecast period.

The adoption of humanoid robots is rising for the caregiving and personal assistance across the Asia Pacific region due to the increasing elderly population in countries like China and Japan. Also, the region is home to a number of well-established humanoid robot manufacturers with high investments into research and development, which enables these companies to maintain their edge over the competition and expand the market in that region. SoftBank Robotics (Japan), ROBOTIS INC (South Korea), KAWADA ROBOTICS CORPORATION (Japan), Honda Motor Co., Ltd. (Japan), and UBTECH Robotics Corp. Ltd. (China) are among the key manufacturers operating in the region.

Key Players

SoftBank Robotics (Japan), ROBOTIS (South Korea), Agility Robotics (US), UBTECH Robotics (China), and Pal Robotics (Spain) are the major players in humanoid robot companies. These players have implemented various strategies to extend their global reach and enhance their market shares.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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New Single Photon Detector on Silicon Photonics Platform Charts Path for Highly Integrated Room Temperature Quantum Computer

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MENLO PARK, Calif. and BOSTON, Oct. 9, 2024 /PRNewswire/ — Artilux, the leader of GeSi (germanium-silicon) photonics technology and pioneer of CMOS (complementary metal-oxide-semiconductor) based SWIR (short-wavelength infrared) single photon detection, announces its collaboration with Dr. Richard A. Soref, a renowned expert widely known as the “father of silicon photonics”, to jointly investigate the field of quantum information processing based on the integrated silicon photonics platform. The first result from this collaboration, recently published in APL Quantum titled “Room-temperature photonic quantum computing in integrated silicon photonics with germanium–silicon single-photon avalanche diodes”, charts a new path for “cryogenics-free” quantum information processing applications.

Currently, large-scale photonic quantum computing (PQC) systems typically consist of three main building blocks: (1) quantum sources that generate single photons, (2) quantum circuits that manipulate single photons, and (3) quantum detectors that measure single photons. Existing PQC architectures rely on superconducting nanowire single-photon detectors (SNSPDs) based on superconductors such as niobium nitride (NbN) operated at a temperature less than 4 Kelvin. Such a cryogenic cooling requirement not only consumes a huge amount of power, it also makes testing systems slow and expensive, significantly limiting wider use outside of specialized facilities.

To bring PQC systems into a revolutionary room-temperature (RT) operation paradigm, this work has proposed replacing the conventional SNSPDs with a newly designed waveguide-based germanium-silicon (GeSi) single-photon avalanche diode (SPAD) based on Artilux’s recent breakthrough published in Nature in February 2024. By combining on-chip waveguided spontaneous four-wave mixing sources, waveguided field-programmable interferometer mesh circuits, and a waveguided spatially-multiplexed array of photon-number-resolving GeSi SPADs detectors with a proper gating window, a highly integrated electronic-photonic system capable of being operated outside cryogenic environment can be realized. When benchmarked to NbN SNSPD designs, the group has further shown that the simulated RT GeSi SPAD designs might even outperform current NbN SNSPD based designs.

Dr. Richard A. Soref said, “Cryogenic modules are presently used in all photonic quantum computers and in many photonic quantum information applications, and we expect that such modules can be eliminated after experimental R&D on photonic integrated circuits (and their associated electronic circuits) confirms our predictions of performance metrics that are fully equivalent to those of the present art.”

Dr. Neil Na, Chief Scientist and CTO of Artilux, also addressed, “This unique system platform is a dream come true for many scientists and engineers, because the analyzed photonic integrated circuits combined with novel single-photon detectors can be used for room-temperature photonic quantum computing, which is significant in accelerating the R&D needed to enter the era of universal quantum computing.”

This groundbreaking collaboration between Artilux and Dr. Soref marks the first sign that RT GeSi SPADs may compete with cryogenic NbN SNSPDs in many quantum information processing applications, including quantum computation, quantum communication, quantum sensing, and quantum imaging. As the demand for quantum technology grows, this innovative approach has the potential to accelerate widespread adoption, bringing the future of RT quantum computing closer to reality. Artilux is poised to be a critical member here by continuing to push the boundaries of photonics technology, driving innovation that will shape the next generation of computing and beyond.

For more information about the paper published and featured by APL Quantum, please visit: https://pubs.aip.org/aip/apq/article/1/3/036123/3312943/Room-temperature-photonic-quantum-computing-in?searchresult=1For more information about the paper reported by Scilight, please visit: https://pubs.aip.org/aip/sci/article/2024/38/381104/3312983/Design-of-germanium-silicon-diode-points-to-roomFor more information about Artilux, please visit www.artiluxtech.com.

【About Artilux】

Since 2014, Artilux is renowned for standing at the forefront of global innovation in germanium-silicon (GeSi) photonics technology. Building upon a proven record of excellence in silicon photonics that meets the ever-growing demand in high-data throughput and low-power consumption, our dedicated team relentlessly pushes technology boundaries to further deliver fundamental science breakthroughs to expand applications from optical communications for consumer-electronics market to optical sensing, imaging, and computing. As a trailblazer in CMOS-based short-wave infrared (SWIR) photon detection technology, we provide comprehensive and cross-disciplinary solutions that drive client growth in digital health, consumer electronics, industrial, autonomous driving, mixed reality, quantum computing, and more, empowering a brighter photonics ecosystem of tomorrow. Our vision is to continually refine and lead the global evolution of photonics technology, transforming this cutting-edge technology into enriched life experiences, and enlightening the path from information to intelligence. For more information, visit www.artiluxtech.com.

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SOURCE Artilux; www.artiluxtech.com

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All Energy Solar Recognized For their Outstanding Work at ‘The Happiest Place on Earth’

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SAINT PAUL, Minn., Oct. 9, 2024 /PRNewswire/ — Last month, leaders from Minnesota’s local solar provider, All Energy Solar, were at ‘the happiest place on Earth”—not quite Disneyland, but close enough in Anaheim, California, to attend a national convention hosted by RE+.

“We’re proud to once again earn this exclusive honor, which is a testament to our outstanding team’s hard work”

RE+, formerly known as SPI, took its first steps in 2004 in San Francisco, drawing over 1,000 attendees. Today, it has grown into the largest renewable energy event in the U.S., offering networking opportunities and a wealth of education for various industries within the clean energy sector. With over 40,000 attendees and 1,300 exhibitors from around the world this year, the event provides a unique platform to learn and share knowledge about solar, storage, wind energy, electric vehicles and their infrastructure, microgrids, and fuel cells.

With 15 years of experience in the industry, All Energy Solar achieves yet another honor for outstanding work and continues to be nationally recognized. For the third consecutive year, All Energy Solar was awarded the Renewable Energy Corporation (REC) Installer of the Year title in the Central Region, which was presented at the convention.

“We’re so honored to receive this award for a third year in a row. It shows the commitment All Energy Solar has to using high-quality equipment,” said Brian Allen, Co-Founder and President. “The industry progresses in various ways to create new advancement and efficiency. It’s inspiring to see fellow industry leaders make clean energy accessible for more people.”

The U.S. Installer Awards was new in 2023, though similar events have occurred throughout Europe. RE+ and EUPD Research hosted the awards to recognize companies for their growth, performance, and commitment to transition to solar power. All Energy Solar achieves the highest level of recognition as a Top Brand PV Installer for another year.

“We’re proud to once again earn this exclusive honor, which is a testament to our outstanding team‘s hard work, our track record in the marketplace and our overall company growth,” said Michael Thalhimer, Director of Business Development at All Energy Solar. “We understand that very few companies nationally have received this award, so it means a great deal to be acknowledged for our role as a leader in the solar industry.”

All Energy Solar offers a variety of services including residential solar, commercial solar, energy storage, electric vehicle chargers, smart electric panels, and roofing in limited locations. The company installs residentially in Illinois, Iowa, Massachusetts, Minnesota, New Hampshire, and Wisconsin, and performs commercial installations nationally and internationally.

About All Energy Solar
All Energy Solar Inc. provides a full-service solar energy integration experience for residential, commercial, agricultural, and government customers. With industry-leading certifications and full electrical and building licenses, All Energy Solar installs quality solar power systems with excellent customer service throughout the experience and after installation. www.allenergysolar.com.

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SOURCE All Energy Solar, Inc

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Elevate Honored with BenefitsPRO’s 2024 Luminaries Award

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Award spotlights individuals and organizations that are leading the way and impacting the benefits industry

DENVER, Oct. 9, 2024 /PRNewswire/ — Elevate, a modern consumer directed benefits administration platform, today announced it has been named to BenefitsPRO Luminaries Class of 2024 in the Leadership category.

This recognition celebrates top professionals and organizations within the benefits industry that strive to transform and humanize the field and set a bright example within the business. The 2024 honorees were selected by a panel of industry experts based on how well they stated and achieved goals with regards to the nomination category; how impactful their work has been; how dedicated the nominee has been to furthering modernization and humanization in the insurance business; and the nominee’s commitment to the highest ethical standards, as well as dedication to service and excellence.

“Our 2024 honorees are leading examples of the progress our industry continues to make toward creating more equitable, affordable benefits and transparent, high-quality health care for millions of Americans,” said BenefitsPRO Editor in Chief Paul Wilson. “BenefitsPRO is proud to once again shine a spotlight on thought leaders and innovators in our industry who are doing things the right way.”

“Building on the power of AI, Elevate is raising the standard for consumer-directed benefits. From simplified claim submission to instant feedback mechanisms, Elevate has made the employee benefits process simpler, smarter and more accessible than ever before,” said Brian Cosgray, Elevate co-founder and CEO. “We’re honored to be recognized amongst such an esteemed group of individuals and organizations committed to meeting the needs of employers and employees in a way that wasn’t previously possible without technological innovations.”

Elevate was recently recognized with several notable honors. Elevate’s co-founder and CTO, Brian Strom, was recently named an Outstanding Tech Innovator by Employee Benefits News. Elevate was also recently honored with the 2024 Tech Award for AI Innovations in Employee Benefits by Lighthouse Research & Advisory.

About Elevate
Elevate is the first completely cloud-based, API-driven, and AI-enabled consumer directed benefits platform with a focus on configurability, embeddability, and real-time automation. The all-in-one platform can manage all types of benefit accounts, from health savings accounts (HSAs) to complex health reimbursement arrangements (HRAs), and even commuter and lifestyle accounts. Elevate’s team of industry experts recognized the need for modern technology in an outdated benefits administration industry, which led to the creation of Elevate in 2020. Today, Elevate collaborates with forward-thinking partners, including professional employer organizations (PEOs), third party administrators (TPAs), health plans, benefits administrators, and financial services companies, to provide a fully integrated benefits account experience for thousands of employers and their employees across the U.S. Learn more at www.elevate.inc

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SOURCE Elevate

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