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Humanoid Robot Market to Grow by USD 16.99 Billion (2024-2028), Driven by Demand for Enhanced Industrial Visibility and Flexibility, with AI Driving Market Transformation – Technavio

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global humanoid robot market size is estimated to grow by USD 16.99 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  45.57% during the forecast period. Demand for enhanced visibility and flexibility in industrial operations is driving market growth, with a trend towards growing demand of humanoid robot owing to emergence of smart manufacturing. However, ethical issues with humanoid robots  poses a challenge.Key market players include Engineered Arts Ltd., EZRobot Inc., Figure AI Inc., HAHN Group GmbH, HANSON ROBOTICS Ltd., Hasbro Inc., Honda Motor Co. Ltd., Hyundai Motor Co., Invento Research Inc., Kawada Robotics Co. Ltd., Macco Robotics, PAL Robotics, Promobot LLC, ROBO GARAGE CO. LTD., Robosen Technologies Ltd, ROBOTIS Co. Ltd, Toyota Motor Corp., Trossen Robotics, UBTECH Robotics Inc., and United Robotics Group GmbH.

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Humanoid Robot Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 45.57%

Market growth 2024-2028

USD 16993.62 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

44.15

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 36%

Key countries

US, Japan, China, South Korea, and Germany

Key companies profiled

Engineered Arts Ltd., EZRobot Inc., Figure AI Inc., HAHN Group GmbH, HANSON ROBOTICS Ltd., Hasbro Inc., Honda Motor Co. Ltd., Hyundai Motor Co., Invento Research Inc., Kawada Robotics Co. Ltd., Macco Robotics, PAL Robotics, Promobot LLC, ROBO GARAGE CO. LTD., Robosen Technologies Ltd, ROBOTIS Co. Ltd, Toyota Motor Corp., Trossen Robotics, UBTECH Robotics Inc., and United Robotics Group GmbH

Market Driver

The humanoid robot market is experiencing significant growth, driven by trends in AI for good, aerospace, and assisted living. Companies like Ameca in Jalisco are leading the charge with autonomous robots for elder care and exploration. In the aerospace industry, humanoid robots are being used for astronaut assistance and autonomous exploration. In the amusement park sector, humanoid robots offer customer engagement and satisfaction through interactive experiences. Investment in humanoid robot technology is on the rise, with startups and established companies alike seeking to capitalize on its potential. Ansys simulation software and cognitive science are key areas of focus for innovation. Behavioral sciences, consciousness, and neuroscience are also important fields of study for creating more human-like robots. The marketplace for humanoid robots is diverse, with applications in grocery stores, hospitality, and even isolation wards. Robots are used for customer engagement, medication dispensing, and even surveillance. In the future, humanoid robots may be used for language translation, learning, and even music performance. Strategic management and policy are crucial for the successful implementation of humanoid robots in various industries. Subsidies and investment opportunities are available for companies in this field. Humanoid robots are being used in various industries such as healthcare, education, and manufacturing for tasks ranging from ultraviolet disinfection to autonomous elevator operation. Invention and training are ongoing processes in the humanoid robot market. Robots are being used for research in mathematics, science, and even rock music. Autonomous robots are being used in the aerospace industry for exploration, while humanoid robots are being used in assisted living for elderly care and motivation. The humanoid robot market is constantly evolving, with new applications and innovations emerging all the time. From autonomous elevators to cognitive science research, the potential for humanoid robots is vast. Whether it’s in the aerospace industry, a grocery store, or an isolation ward, humanoid robots are making a difference. 

Smart manufacturing is a modern industrial approach that leverages advanced computing, analytics, and IoT-integrated technology to optimize production processes. Key objectives include flow optimization, customization, asset tracking, predictive maintenance, and real-time inventory management. The growth of automation, electrification, data integration, human-machine interaction, and connectivity have driven the adoption of smart manufacturing. In the automotive industry, sensors are used extensively in manufacturing, assembly lines, and warehouses to enable automation and improve efficiency. Industrial machines and robots are equipped with IoT-integrated microprocessors, microcontrollers, sensors, and switches to facilitate smart manufacturing. 

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 Market Challenges

The humanoid robot market is experiencing significant growth as these advanced machines find applications in various industries. AI for Good initiatives, aerospace, and Ameca Robotics in Jalisco lead the charge in exploration and autonomous robotics. In the entertainment sector, amusement parks use humanoids for customer engagement and satisfaction. Ansys simulation software and cognitive science help develop robots capable of cognition and consciousness. Assisted living, elderly care, and hospitals utilize humanoids for duty in isolation wards and patient care. The future of humanoids includes investment in startups, autonomy in grocery stores and elevators, and even autonomous payment kiosks. Challenges include policy-making, language barriers, and ensuring relevance in areas like mathematics, medicine, and neuroscience. Humanoids are also being used for motivation in areas like music and art, and for strategic management in client computing and investment. Invention in areas like autonomous elevator systems and ultraviolet disinfection robots continue to push the boundaries of this exciting market.The humanoid robot market faces significant challenges due to ethical concerns. Unemployment is a major issue as humanoid robots can perform tasks previously done by laborers, leading to potential job losses. Ethical dilemmas also include privacy concerns, inaccurate data usage, and control and liability issues. These challenges may hinder the growth of the global humanoid robot market during the forecast period. It is crucial for businesses to address these ethical concerns to ensure the responsible adoption and integration of humanoid robots into various industries.

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Segment Overview 

This humanoid robot market report extensively covers market segmentation by  

Application 1.1 Personal assistance and caregiving1.2 Research and space exploration1.3 Education and entertainment1.4 Search and rescue1.5 Public relationsComponent 2.1 Hardware2.2 SoftwareGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Personal assistance and caregiving-  The personal assistance and caregiving segment of the global humanoid robot market is experiencing notable growth due to the increasing demand for robots that can help people with daily living tasks and provide companionship and mental health support. Key players, such as HANSON ROBOTICS, Toyota, and PAL Robotics, are developing humanoid robots with diverse capabilities, from basic tasks to advanced functions like conversing and emotion recognition. The aging population, rising home care demands, and technological advancements fuel market expansion. Startups and smaller companies also contribute, offering specialized humanoid robots for specific applications, like autism therapy or mobility assistance. Overall, the personal assistance and caregiving segment’s growth will continue to drive the global humanoid robot market, as robots become increasingly capable and the need for caregiving services increases.

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Research Analysis

The Humanoid Robot Market is experiencing rapid growth as advancements in AI, autonomy, and cognitive science drive innovation in various industries. Robots are being integrated into sectors such as aerospace for exploration and astronaut assistance, amusement parks for customer engagement, and assisted living for elderly care. In the future, humanoid robots are expected to revolutionize industries like grocery stores and hospitality, providing improved customer satisfaction and efficiency. Applications in fields like art, consciousness, and behavioral sciences are also emerging, broadening the scope of humanoid robotics. Companies are leveraging Ansys for simulation and design, while autonomous robots are being used in duty roles like elevators and electric generators. Foreign language capabilities add to their versatility, making humanoid robots an essential part of our future.

Market Research Overview

The Humanoid Robot Market is experiencing rapid growth as AI technology advances and robots become increasingly integrated into various industries. From ‘AI for Good’ projects to aerospace and amusement parks, humanoid robots are making waves in exploration, assisted living, and customer engagement. In the realm of art and behavioral sciences, robots are pushing boundaries in cognitive science, consciousness, and neuroscience. The marketplace also includes applications in manufacturing, such as autonomous robots for assembly lines and electric generators. In the future, humanoid robots will be found in grocery stores, hospitals, and even isolation wards, providing essential services with motivation and relevance. The market is driven by investment and policy, with startups and subsidies playing a significant role in innovation. Robots are also being used for payment systems, language translation, and even music composition. The possibilities are endless, from simulation software for strategic management to robots that can learn and adapt to their environment. The humanoid robot market is shaping the future of various industries and our daily lives.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationPersonal Assistance And CaregivingResearch And Space ExplorationEducation And EntertainmentSearch And RescuePublic RelationsComponentHardwareSoftwareGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Forging New Paths: Alfasigma Group and Fangzhou Inc. Chart a Course for Internet Healthcare

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SHANGHAI, Nov. 19, 2024 /PRNewswire/ — On November 13th, a high-level delegation from the Alfasigma Group, led by Mr. Andriy Samoylovych, Chief Commercial Officer of Global Growth Markets, and Ms. Zhou Qin, General Manager of Alfasigma China, met with Dr. Xie Fangmin, Chairman and CEO of Fangzhou Inc. (“Fangzhou” or the “Company”) (06086.HK), at the Company’s offices in Shanghai. The two companies discussed current trends in China’s Internet healthcare sector, along with potential areas for future collaboration.

Embracing Digital Evolution

The emergence of the Internet and digital technology has expanded the possibilities for Internet healthcare in China. Increasing numbers of patients are looking online for medical services that bring greater convenience and an improved customer experience. “The evolution of Internet hospitals in China is a gradual process that relies not only on technological advancements, but also fundamentally on developing patients’ acceptance of new healthcare delivery models,” elaborated Dr. Xie.

By leveraging an innovative hybrid model which combines initial offline consultations with online follow-ups, Fangzhou has boosted patients’ acceptance and trust in its Internet Hospital services. This model has facilitated more convenient communication between doctors and patients, fostering deeper relationships and engagement, which are crucial to improving patients’ treatment adherence.

Strategic Collaboration to Enhance Healthcare Delivery

Mr. Andriy Samoylovych engaged in a comprehensive discussion with the Fangzhou team, addressing topics such as expanding patient access to innovative drugs, the current landscape of Internet healthcare in China, and the insights gained from Internet based doctor/patient education.

For many years, Fangzhou and Alfasigma Group have engaged in extensive collaboration across multiple therapeutic areas, including cardiovascular health, vascular surgery, nephrology, endocrinology, hepatology, infectious diseases, gastroenterology, and reproductive health. The meeting highlighted the latest achievements of both organizations while outlining directions for future partnership. Fangzhou and Alfasigma Group are eager to work together to drive innovation and enhance the delivery of Internet healthcare.

About Fangzhou Inc.

Fangzhou Inc. (06086.HK) is China’s leading online chronic disease management platform. With 45.6 million registered users and 217,000 registered doctors on its platform (as of June 30, 2024), the Company provides tailored medical care and precision medicine for a growing population of chronic disease patients. For more details, visit https://investors.jianke.com.

About Alfasigma

Alfasigma is an international pharmaceutical company founded in Italy, and operating in over 100 countries worldwide (through direct branches, affiliates and subsidiaries). With more than 75 years of history, Alfasigma has a long track record in the research, development, production and distribution of innovative therapeutic indications. Its product portfolio spans specialty care, primary care and consumer care in five main areas: Gastroenterology, in which it is a leader, Vascular, Rheumatology, Metabolic, Nutraceuticals & Medical foods.

Media Contact
For further inquiries or interviews, please reach out to:
Xingwei Zhao Associate Director of Public Relations Email: pr@jianke.com

Disclaimer: This press release contains forward-looking statements. Actual results may differ materially from those anticipated due to various factors. Readers are cautioned not to place undue reliance on these statements

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SOURCE Fangzhou Inc.

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Zupe Announces Wellness Social Network for iOS

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Built for users that value healthspan and featuring artificial intelligence, Zupe offers verified expert content, innovative ways to get trusted advice, and a convenient marketplace featuring a global selection of wellbeing brands.

HONG KONG, Nov. 20, 2024 /PRNewswire/ — Zupe announced the upcoming launch of its wellness super-app. Zupe is a discovery platform—restoring trust in online advice and recommendations—that connects users with verified experts and curated products. Designed for health-forward consumers who are more in touch than ever in knowing what they want, Zupe helps them find what they need and what’s good for them.

Initially launching for iOS, the user-friendly interface intelligently integrates technology to offer a holistic digital ecosystem for health and wellness that prioritises trust and transparency. Users can share ideas, ask questions, contact experts, watch product reviews, and shop for wellness products across a number of categories spanning health, fitness, nutrition, appearance, sleep, sexual wellness, and mindfulness.

Research by the company and market data demonstrates a rising distrust of social media, particularly information and products promoted by content creators. A recent focus group commissioned in early October 2024 by Zupe indicated that 7 in 8 participants between the ages of 24-35 had negative views on obtaining ‘health information by using mainstream social media’.

The Community Feed provides users with a fast and intuitive way to access content from others, engage in discussions, and ask—and answer—questions. Experts, thoughtfully verified by Zupe, can access a dedicated suite of features. This includes options to speak to experts via instant messaging, voice calls, and video conferencing, as well as the ability to recommend products from the Zupe Marketplace to earn a commission. Diversity of thought is encouraged, and real, honest views are essential, reflected in the platform’s core features built around expert opinions and reviews. Zupe’s in-app AI also offers impartial, fact-based insights into expert content.

The Zupe Marketplace carries hundreds of wellbeing products curated from brands across the world. Users can find leading supplements and futuristic devices through to superfoods and sexual wellness products.

Qualified experts users can trust

At a time when almost anyone online can claim to be an expert—often to sell a course or consultation—Zupe combats health washing and misinformation by verifying each individual providing advice on the app. The company uses a two-stage process: candidates are interviewed by Zupe, and their qualifications and social media presence are checked for compliance with expert standards. They are then screened by a third-party background check provider to verify their documentation. Once verified, experts gain access to various dedicated features, including monetisation options and a “Verified Expert” badge.

The platform welcomes a variety of experts, from conventional specialists to alternative practitioners, supported by evidence-based methods and recognised qualifications. Currently, doctors, nurses, and other medically regulated professions are not eligible to be experts on the app due to regulatory rules. Zupe also requires individuals to meet additional standards, such as having a minimum number of years of experience, to be considered an expert.

Experts are encouraged to engage in open, honest and constructive discussion. Zupe’s community standards require experts to support their claims with research or they risk having their content removed.

Chat to experts and ask questions

Expert features—a result of thoughtful software integration—offer users innovative ways to receive paid advice. Users can contact experts via instant messaging, voice calls, or video conferences. Fractional pricing allows users to pay by the minute for most features, enabling short answers and quick advice without significant costs. Users can also contact experts directly for more personalised and extensive advice. The “Ask” function lets anyone pose and answer questions, fostering open discussions with expert responses clearly marked by their “Verified Expert” badge.

A global marketplace of leading wellbeing products

The Zupe Marketplace with its unique shopping experience eliminates frustration over finding the right products for a user’s health goals through the platform’s educational content and intuitive tools.

Today’s consumers no longer trust influencers and see through traditional marketing. Zupe builds trust by allowing real users and verified experts to test, try, and review products on the Marketplace in exchange for honest feedback—empowering them to express their opinions, both positive and negative. This radical honesty fosters trust and helps users make informed purchasing decisions, with reviews discussing product benefits, limitations, and value for money. Recognising the prevalence of sponsored content, Zupe’s approach challenges current practices: brands cannot incentivise experts or users, and moderation ensures compliance with Zupe’s community standards.

The Marketplace brings together hundreds of products from leading global brands including Pure Encapsulations, Researched Nutritionals, and LELO. Zupe takes care of everything—from driving product awareness and seeding products to experts to generating honest content that drives sales and providing business performance insights to brands.

Zupe AI

Zupe AI takes getting accurate health information to a new level by providing objective insights alongside expert content. Coming later, Zupe AI will be able to complement expert features and take action across the app, like asking users questions about their health concerns and then making appropriate product recommendations. Artificial intelligence and generative AI empower users with Zupe’s Retrieval Augmented Generation (RAG) engine, leveraging the latest research and knowledge. Content is enriched with data from Zupe’s proprietary technology to deliver objective, quick, and simple facts. Zupe AI is multimodal, providing intelligent feedback on textual, visual, and audio content. For instance, the Zupe AI can offer a neutral opinion on a post about a nutritional supplement–based on current research. The Zupe AI model is currently available in the Community Feed and in English. 

Get early access

Download Zupe on iOS here.

About Zupe

Zupe is revolutionsing the way consumers pursue optimal health and wellness—with its app for iOS, and, soon, Android and web versions. The Hong Kong-headquartered company is dedicated to innovating the online health experience with plans to enter major global markets.

References:

1 Zhang, Y., Wang, Y., Yongsatianchot, N., Gaggiano, J. D., Suhaimi, N. M., Okrah, A., Kim, M., Griffin, J., & Parker, A. G. (2024). Profiling the dynamics of trust & distrust in social media: A survey study.

Press Contact
tatum@zupe.life 

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SOURCE Zupe Group Limited

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Flexport Appoints Daniel Sanvicente as Senior Vice President, Head of APAC

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SAN FRANCISCO, Nov. 19, 2024 /PRNewswire/ — Flexport, a global leader in supply chain technology, announced today the appointment of Daniel Sanvicente as Senior Vice President, Head of APAC, effective December 2, 2024. Sanvicente will bring more than 25 years of leadership experience and deep expertise in the Asian Pacific region to Flexport, where he will focus on driving growth and strengthening the company’s regional presence.

“Today, more than ever, the Asia Pacific region is a critical hub for global supply chains. Daniel’s deep knowledge of the region and track record of building exceptional teams to help organizations scale effectively will be invaluable as Flexport continues to invest in and expand its presence in the Asia Pacific region,” said Ryan Petersen, Founder & CEO, Flexport.

Sanvicente’s track record in the global logistics industry helped drive growth and operational excellence at some of the world’s largest logistics players. Most recently, he served as Chief Commercial Officer for Asia Pacific at Hellmann Worldwide Logistics, where he built and led a team responsible for some of the organization’s biggest growth drivers. Prior to that, he led commercial strategy for Panalpina Greater China before taking on a leadership role focused on driving sales growth across the APAC region from Singapore. After Panalpina was acquired by DSV in 2019, Sanvicente established and led a newly combined commercial organization spanning 15 countries. He began his career at DB Schenker, where he developed strategic commercial and operational roadmap to scale teams in markets such as Miami, New York, Singapore, and Hong Kong.

“I am excited to embark on my new journey with Flexport. What drew me to Flexport is its vision of leveraging cutting-edge technology to power global trade, which I believe has enormous growth potential. I look forward to working with the world-class teams at Flexport to deliver exceptional value for our customers and to grow our presence across the Asia Pacific region,” said Sanvicente.

Flexport has seen significant growth in APAC in recent years. The company is the seventh largest freight forwarder in the Transpacific Eastbound trade lane and services an extensive global network of ocean freight routes. Flexport has also strengthened its air freight capabilities by operating dedicated freighters that connect key APAC gateways with the U.S. to meet rising demand. In addition to growing its presence in strategic markets such as Greater China and Korea — which have been central to its growth in cross-border e-commerce and other sectors —  Flexport recently announced a partnership with ITL Corporation in Vietnam to further accelerate its expansion in Southeast Asia.

About Flexport
We believe that global trade can move humanity forward. That’s why it’s our mission to make global commerce so easy there will be more of it. Flexport powers your supply chain from factory floor to customer door – making it easy for you to ship anywhere, sell everywhere, and grow faster. Companies of all sizes—from emerging brands to Fortune 500s—used Flexport technology and services to move nearly $33 billion of merchandise across 112 countries in 2023.

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SOURCE Flexport, Inc.

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