Humanoid robots poised to reshape global economies by 2050

The market for humanoid robots could reach 9 trillion dollars by 2050 according to analysis by the Royal Bank of Canada. The household sector is projected to represent approximately 2.9 trillion dollars or one third of this total market. Within the next five years, basic humanoid robots may begin appearing in homes with their initial applications centred on entertainment and personal fitness. Broader adoption and more advanced functionality are expected to take up to two decades to materialise.

China is anticipated to lead demand for humanoid robots, claiming 60 percent of the global market. Analysts suggest that Chinese households could own multiple robots each, contributing significantly to the rapid expansion of this sector. Tom Narayan of RBC Global Markets, a co-author of the report, remarks that in Asia, the incorporation of humanoid robots is regarded as a practical response to demographic challenges, particularly the ageing population and the need for elder care.

Interest is so keen in China that government officials have issued warnings about the risk of market overheating, highlighting concerns that too many companies are producing similar products. This saturation could hinder further innovation and the development of more diverse robotic applications. Currently, there are 150 companies in China devoted to humanoid robotics, signalling intense competition and strong policy interest.

The research estimates that by 2050, humanoid robots may assume 40 percent of labour-intensive roles in industries such as agriculture, cleaning, and manufacturing. This transition could release millions from repetitive tasks and allow for reallocation of human resources to more productive endeavours. According to Narayan, the mass production of humanoid robots could ultimately prove cost effective even if the human form is not always the most logical configuration for specific roles.

Investment in humanoid robotics is also accelerating in Silicon Valley. Notably, OpenAI’s Sam Altman has supported start-ups specialising in this field, and Tesla under Elon Musk is preparing the Optimus humanoid robot for production in 2026 with plans to manufacture a million units over the subsequent five years. The business model for humanoid robots may echo that of modern smartphones, focusing on generating recurring revenue through app ecosystems tailored to robotic platforms.

The prospect of hundreds of millions of humanoid robots deployed across households and industries points to sweeping changes in both economic structures and everyday life, redefining the relationship between technology, productivity, and care work on a global scale.