Market Growth Projections: Humanoid Robots and Spinal Imaging Technologies

Humanoid Robot Market to hit $46.31 billion, Globally, by 2031 at 48.6% CAGR, says Coherent Market Insights

Burlingame, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The global Humanoid Robot Market Size to Grow from USD 2.90 Billion in 2023 to USD 46.31 Billion by 2031, at a Compound Annual Growth Rate (CAGR) of 48.6% during the forecast period, as highlighted in a new report published by Coherent Market Insights. Growing demand for humanoid robots has been steadily increasing across various industries like healthcare, education, retail and others. As these industries look to automate repetitive and manual tasks, humanoid robots provide an ideal solution due to their advanced capabilities and human-like form factors. Healthcare is one of the major adopters where humanoid robots help in serving elderly patients, assisting surgeons in the operation theatre and helping patients with rehabilitation. Similarly, in education sector humanoid robots are proving useful for personalized learning experiences for students and in retail stores they are used for customer service and interaction. Request Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/7025 Market Dynamics: The growing demand for service robots from industrial as well as domestic application and increasing investment in research and development of humanoid robots are the major factors driving the growth of the global humanoid robot market. Service robots are witnessing huge demand due to their ability to perform routine tasks safely and efficiently. Also, continuous technological advancements to enhance the functionalities of humanoid robots such as dexterity, mobility, and intelligence are further propelling the market growth. However, the high cost associated with development and production of humanoid robots may hamper the market growth. Humanoid Robot Market Report Coverage Report CoverageDetailsMarket Revenue in 2023$2.90 billionEstimated Value by 2031$46.31 billionGrowth RatePoised to grow at a CAGR of 48.6%Historical Data2019-2023Forecast Period2024-2031Forecast UnitsValue (USD Million/Billion)Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and TrendsSegments CoveredBy Component, By Application, By Motion TypeGeographies CoveredNorth America, Europe, Asia Pacific, and Rest of WorldGrowth Drivers* Aging Population and Need for Elderly Care * Advancement in robotics technologyRestraints & Challenges* Limited communication skills * Lack of flexibility Market Trends: Collaborative robots allow humans and robots to work in tandem safely resulting in higher productivity. The demand for collaborative robots is increasing globally due to their benefits over traditional industrial robots such as reduced cost, easy deployment, and safety. Moreover, collaborative robots can be deployed across several industries for tasks like material handling, quality inspection, packaging, and assembly. The deployment of humanoid robots in healthcare is growing owing to their abilities to perform routine tasks efficiently. Applications such as elderly assistance, surgery, therapy, and medication management are witnessing increasing uptake of humanoid robots. This helps reduce workload of medical staff and provides 24X7 assistance to patients. The development of soft and dexterous humanoid robots will further support their adoption in the healthcare industry. Immediate Delivery Available | Buy This Premium Research Report: https://www.coherentmarketinsights.com/insight/buy-now/7025 Market Opportunities: The wheel drive segment currently holds the largest share of the humanoid robot market owing to the stability and efficiency offered by wheel locomotion. Wheel-driven humanoid robots are well-suited for indoor applications that require carrying or transporting loads over flat surfaces. Many domestic and commercial service robots rely on wheel drive for tasks like cargo handling, shelf stocking, delivering items, and indoor surveillance. Lower production and maintenance costs compared to legged robots also contribute to the widespread adoption of wheel-based humanoids. The personal assistance and caregiving application segment is anticipated to emerge as a key growth area for humanoid robots over the forecast period. A rapidly aging global population coupled with declining birth rates is increasing the demand for assistive technologies. Humanoid robots can provide companionship and assistance to the elderly and those requiring home healthcare. They are being developed for tasks like patient monitoring, medication reminders, fall detection, transferring patients, and providing therapeutic assistance. The ability of humanoids to replicate human-like interaction makes them a preferable choice over industrial robot arms for care applications. Key Market Takeaways The global humanoid robot market is anticipated to witness a CAGR of 48.6% during the forecast period 2024-2031, owing to ongoing advancements in artificial intelligence, sensor technologies, and actuation. On the basis of motion type, the wheel drive segment is expected to hold a dominant position, accounting for over 35% of the market share by 2031. Its stability and suitability for indoor logistics applications has led to widespread adoption. By component, the software segment is projected to witness the highest growth during the forecast period. Advancements in machine learning, computer vision, natural language processing etc. are driving investments in robot software. In terms of application, personal assistance and caregiving is poised to emerge as the fastest growing segment, expanding at a CAGR of over 55%. Its ability to provide human-like interaction and assistance is increasing its appeal for elderly care applications. Regionally, North America is expected to hold the largest share of over 40% in the global humanoid robot market through 2031. Extensive research activities coupled with rapid technology adoption in the US and Canada have made North America the dominant regional market. The key players operating in the humanoid robot market include Samsung Electronics, DST Robot Co. Ltd., Qihan Technology Co., Honda Motor Company, and UBTECH Robotics Corporation. Strategic partnerships for technology development and expanded commercialization are expected to help these players strengthen their market presence. Request For Customization: https://www.coherentmarketinsights.com/insight/request-customization/7025 Recent Developments: Xiaomi introduced its CyberOne Humanoid robot in August 2022, recognizing emotions with facial expressions and voice. After receiving an upgrade to its facial expression capabilities in August 2022, Ameca, Engineered Art's highly advanced humanoid robot, will be able to perform frowning, grinning, and winking in a mirror, as well as squeezing its lips. Detailed Segmentation: By Component: HardwareSoftware By Application: Research & Space ExplorationEducation & EntertainmentPersonal Assistance & CaregivingHospitalitySearch & RescueOthers By Motion Type: BipedWheel-drive By Regional: North America: U.S.Canada Latin America: BrazilArgentinaMexicoRest of Latin America Europe: GermanyU.K.SpainFranceItalyRussiaRest of Europe Asia Pacific: ChinaIndiaJapanAustraliaSouth KoreaASEANRest of Asia Pacific Middle East: GCC CountriesIsraelRest of Middle East Africa: South AfricaNorth AfricaCentral Africa Browse Related Reports: Face Recognition Ai Camera Market: Global face recognition AI camera market is estimated to be valued at USD 3.08 Bn in 2024 and is expected to reach USD 12.71 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 22.4% from 2024 to 2031. Accountable Care Solutions Market: Global accountable care solutions market is estimated to be valued at US$ 21.50 Bn in 2024 and is expected to reach US$ 42.54 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031. B2B Payments Transaction Market: The B2B payments transaction market is estimated to be valued at US$ 1,576.61 Bn in 2024 and is expected to reach US$ 3,021.25 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031. Agricultural Drones Market: Global agricultural drones market is estimated to be valued at US$ 4.80 Bn in 2024 and is expected to reach US$ 19.24 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 21.9% from 2024 to 2031. Author Bio: Ravina Pandya, PR Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. (LinkedIn: https://www.linkedin.com/in/ravina-pandya-1a3984191) About Us: Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients. Follow Us: LinkedIn | Twitter Mr. Shah Senior Client Partner - Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com Market News and Data brought to you by Benzinga APIs

Global Spinal Imaging Market to hit $3.19 billion, Globally, by 2031 at 5.4% CAGR, says Coherent Market Insights

Burlingame, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The global Spinal Imaging Market, valued at $2.10 billion in 2023, is on a trajectory of rapid expansion, with projections indicating it will soar to $3.19 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2031, as per a recent report by Coherent Market Insights. Increasing demand for advanced medical imaging technologies for accurate diagnosis and monitoring of diseases. Secondly, rising prevalence of chronic and lifestyle diseases is also fueling market growth. Diseases like cancer, heart diseases, diabetes etc. have increased manifold over last few decades. Medical imaging helps in effective diagnosis and staging of chronic diseases which drives their adoption. On advanced spinal imaging to properly manage serious spinal trauma cases. As risks of spinal injuries increase due to more high-risk recreational activities, imaging demand is projected to keep growing over the coming years. Request Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/6619 Market Dynamics: The growth of the global spinal imaging market is attributed to the increasing incidence of spinal disorders and rise in geriatric population. Spinal disorders such as herniated discs, spinal stenosis and spondylolisthesis are common among the elderly population, thereby contributing to the market growth. It is estimated that approximately 80% of the population suffers from back pain at some point in their lifetime. This has increased the demand for advanced spinal imaging modalities for accurate diagnosis and treatment planning. Moreover, technological advancements in spinal imaging such as high resolution imaging and 3D/4D imaging is also expected to support the market growth over the forecast period. Global Spinal Imaging Market Report Coverage Report CoverageDetailsMarket Revenue in 2023$2.10 billionEstimated Value by 2031$3.19 billionGrowth RatePoised to grow at a CAGR of 5.4%Historical Data2019-2023Forecast Period2024-2031Forecast UnitsValue (USD Million/Billion)Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and TrendsSegments CoveredBy Product, By Application, By End UseGeographies CoveredNorth America, Europe, Asia Pacific, and Rest of WorldGrowth Drivers* Rising incidence of spine disorders * Technological advancements in imaging modalitiesRestraints & Challenges* High cost of imaging systems * Strict regulatory framework Market Trends: Growing adoption of hybrid imaging systems: Integration of advanced technologies such as CT, MRI, and PET in a single system allows anatomical as well as functional assessment of the spinal region. This has gained significant popularity among healthcare providers due to advantages such as high resolution images, shorter scan time and better clinical outcomes. Rise in minimally invasive spinal surgeries: Increased adoption of percutaneous vertebroplasty and kyphoplasty procedures over traditional surgeries is expected to support the market growth. Precise pre-operative imaging enables surgeons to perform these procedures with minimally invasive techniques resulting in shorter hospital stays and recovery times. Immediate Delivery Available | Buy This Premium Research Report: https://www.coherentmarketinsights.com/insight/buy-now/6619 X-ray imaging accounts for the largest share of the global spinal imaging market owing to its low cost and wide availability. X-rays are commonly used as the first-line imaging test to diagnose conditions affecting the bones and soft tissues of the spine. It allows detection of fracture, dislocations, tumors and infections of the spine. Though it does not provide high resolution images of soft tissues like MRI, it is widely used for initial assessment and screening purposes. CT imaging is expected to witness steady growth at a CAGR of 5% during the forecast period. CT scanning provides very detailed images of bones, soft tissues and blood vessels. It is particularly useful for evaluating bone implants or hardware after spine surgery. Advanced CT technologies like CT myelography and CT arthrography are being increasingly used for detailed evaluation of spinal discs, nerves and facet joints. Key Market Takeaways: The global spinal imaging market is anticipated to witness a CAGR of 5.4% during the forecast period 2023-2030, owing to rising incidences of spinal disorders and growing geriatric population. On the basis of product, the X-ray segment is expected to hold a dominant position, owing to its widespread availability and low cost. On the basis of application, the spinal infection segment is expected to dominate the market due to increasing cases of spinal infections. On the basis of end user, the hospital segment is expected to hold a dominant position over the forecast period, due to availability of advanced imaging facilities. On the basis of region, North America is expected to hold a dominant position over the forecast period, due to well developed healthcare infrastructure and rising healthcare spending. Key players operating in the global spinal imaging market include Shimadzu Corp., FUJIFILM, Hitachi, Lts., Toshiba Medical Systems, Inc., GE Healthcare, Koninklijke Philips N.V. Siemens Healthineers, Canin Medical System Corp, Bruker, and Mediso Lrd. Technological advancements and new product launches are shaping the competitive landscape. Recent Developments: In June 2023, GE Healthcare and digital solutions innovator entered into a distribution agreement with DePuy Synthes. In May 22023, Hoag Spine Center, become the first in Orange County, U.S. to adopt the EOSedge System, a cutting-edge technology that combines multiple imaging techniques to better diagnose and treat back pain in adults. Request For Customization: https://www.coherentmarketinsights.com/insight/request-customization/6619 Detailed Segmentation: By Product: X-ray MyelogramDiscogramX-ray (without contrast media) CT MyelogramDiscogramX-ray (without contrast media) MRIUltrasound By Application: Spinal InfectionVertebral FracturesSpinal CancerSpinal Cord & Nerve Compressions By End Use: HospitalDiagnostic Imaging CenterAmbulatory Care Center By Region: North America: U.S.Canada Latin America: BrazilArgentinaMexicoRest of Latin America Europe: GermanyU.K.SpainFranceItalyRussiaRest of Europe Asia Pacific: ChinaIndiaJapanAustraliaSouth KoreaASEANRest of Asia Pacific Middle East: GCC CountriesIsraelRest of Middle East Africa: South AfricaNorth AfricaCentral Africa Browse Related Reports: Face Recognition Ai Camera Market: Global face recognition AI camera market is estimated to be valued at USD 3.08 Bn in 2024 and is expected to reach USD 12.71 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 22.4% from 2024 to 2031. Accountable Care Solutions Market: Global accountable care solutions market is estimated to be valued at US$ 21.50 Bn in 2024 and is expected to reach US$ 42.54 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031. B2B Payments Transaction Market: The B2B payments transaction market is estimated to be valued at US$ 1,576.61 Bn in 2024 and is expected to reach US$ 3,021.25 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031. Agricultural Drones Market: Global agricultural drones market is estimated to be valued at US$ 4.80 Bn in 2024 and is expected to reach US$ 19.24 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 21.9% from 2024 to 2031. Author Bio: Priya Pandey is a dynamic and passionate PR writer with over three years of expertise in content writing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes writing contents and documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. (LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/) About Us: Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients. Follow Us: LinkedIn | Twitter Mr. Shah Senior Client Partner - Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com Market News and Data brought to you by Benzinga APIs