The market size of the domestic robot industry is growing faster than that of the world. It is expected that by 2024, China’s robot market is expected to exceed 25.1 billion US dollars, an increase of 19.5%; Among them, the industrial robot market in 2024 reached 11.5 billion US dollars, an increase of 16.2%; The service robot market reached $10.2 billion, up 23% year on year; The specialty robot market reached $3.4 billion, up 21.7% year on year.

PDP401 Humanoid robots are expected to grow significantly faster than the overall robotics industry. According to Stratistics MRC, the global market for humanoid robots was $1.5 billion in 2021 and is expected to reach $26.4 billion by 2028, with a CAGR of 50.5% in 2021-2028; Among them, by sector, Stratistics MRC expects the fastest growth rate of humanoid robots in education and entertainment, and the largest market share in healthcare; By region, Stratistics MRC expects the fastest compound growth in the Asia-Pacific region, with the highest share in North America.

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In terms of downstream application scenarios, humanoid robots have the attributes of industrial products and consumer goods, and the core of volume is price and performance. If the humanoid robot is regarded as a consumer product, the core factor that affects its sales in the early stage is performance, and the core of performance is the level of “intelligence”. In other words, with the continuous improvement of the intelligence PDP401 level of humanoid robots, there will be continuous incremental consumer choice experience, and the development path at this time is similar to the stage of Tesla cars from Roadster to Model S; The core factor affecting its sales in the middle and late period is the cost, which gradually becomes a mass consumer product, similar to the stage of Tesla Model 3.

If the humanoid robot is regarded as an industrial product, its universal properties are in conflict with the trend of specialization to reduce costs. Therefore, only in some specific areas, when the cost performance of humanoid robots is higher than that of artificial and industrial robots, it will have a better volume. However, from the perspective of the industrial chain, humanoid robots and industrial robots are connected in many parts, and the development of humanoid robots and industrial robots are driven and promoted by each other. The demand for industrial robots brought about by the shortage of human resources and the aging population will also promote the technological progress and cost reduction of the entire robot industry chain, which will benefit the development of humanoid robots.