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03

Robotics & Physical AI

A New Era in Automation

If AI is the brain, robotics are the body — representing the execution layer and bringing intelligence into motion with precision, adaptability, and real-world impact. As generative models grow more capable and hardware becomes cheaper and more versatile, we’re entering the era of physical AI, where machines don’t just think — they see, move, and act in real time.

As adoption rapidly accelerates and robotics reach an inflection point, costs continue to fall while performance capabilities strengthen dramatically.1 This new generation of intelligent systems narrows the gap between digital intelligence and physical labour, impacting how work is organised, how industries scale, and where human effort delivers the greatest value. From logistics to manufacturing, physical AI is set to reshape workflows and operational models across nearly every sector.

Forces Behind the Rise in Robotics

Industrial robotics have crossed a critical threshold, demonstrating clear value across factories, warehouses, and laboratories. A perfect storm of economic forces is accelerating adoption: 1) rising U.S. labour costs; 2) surging demand for automation in precision manufacturing; and 3) declining costs for robotic setups.2

This convergence arrives as U.S. reshoring efforts collide with acute worker shortages.3 Manufacturers are deploying hybrid models that amplify human capabilities through robotic collaboration, realizing operational gains and enabling workers to focus on more strategic roles.4

Manufacturing Wages vs. Average Cost of Industrial Robots5

U.S. Manufacturing Average Hourly Wage (LHS)
Average Cost per Industrial Robot (RHS)
Manufacturing Wages vs. Average Cost of Industrial Robots Chart Manufacturing Wages vs. Average Cost of Industrial Robots Chart
*Forecast
There is no guarantee that any trends observed in this material will continue. Any views / opinions are based on current market conditions and are subject to change.

Self-Driving Vehicles Could Lead the Physical AI Revolution

The transportation sector represents the most visible application of physical AI, with autonomous vehicles now widely deployed nationwide and robotaxis launching through phased, geofenced deployments in major U.S. cities.

Beyond providing convenience and increased driver safety, self-driving vehicles could have a profound impact, with the potential to boost global GDP and serve as a template for physical AI to scale across other industries. These deployments are critical testing grounds for AI decision-making that will help define the physical AI revolution.

Cities Where Self-Driving Taxis Are Operational6

China
China
United Arab Emirates
United Arab Emirates
South Korea
South Kopea
United States
United States
China
China
United Arab Emirates
United Arab Emirates
South Korea
South Korea
United States
United States

The Trillion-Dollar Humanoid Robot Opportunity?

General-purpose humanoid robots — machines that perform complex tasks across multiple environments — represent the culmination of physical AI. Though still in development, rapid progress driven by AI brings industry leaders closer to mass production.7

The global humanoids market could reach $4.85 trillion by 2035, with nearly 100 million units potentially sold.8 The trajectory of humanoid adoption could mirror early automobile sales, with increasing ownership rates making household and commercial humanoids commonplace.

2035 Global Humanoids Total Addressable Market9

2035 Total Addressable Market for Global Humanoids Chart 2035 Total Addressable Market for Global Humanoids Chart
There is no guarantee that any trends observed in this material will continue. Any views / opinions are based on current market conditions and are subject to change.

Tech Advancements Fueling Opportunities for Humanoid Market10

Tech Advancements Fueling Opportunities for Humanoid Market Tech Advancements Fueling Opportunities for Humanoid Market
*Forecast
There is no guarantee that any trends observed in this material will continue. Any views / opinions are based on current market conditions and are subject to change

CASE STUDY

Robotic warehouse systems powered by AI provide department stores and others with automation capabilities to match the increased pace of the digital economy.

Robotic warehouse systems powered by AI provide Walmart and others with automation capabilities to match the increased pace of the digital economy.

Sources
1EY. (2025). 2 JLA Advisors. (2025, September 14).The Robotics Economy: Growth, Disruption, and Opportunity. 3 McKinsey. (2025, April 28). Empowering the US Workforce. 4 Dhanda, M. et all. (2025, June). Reviewing Human-Robot Collaboration in Manufacturing. 5Global X ETFs illustration as of September 19, 2025 with information derived from: Cette, G., Spiezia, V., & Nobile, C. (2024, June 22). The Contribution of Robots to Productivity and GDP Growth in Advanced Economies Over 1960-2022. American Economic Association Conference – 2025. ACES Session: Institutions and Productivity in Advanced Countries.; Klump, R., Jurkat, A., & Schneider, F. (2021, November 1). Tracking the Rise of Robots: A Survey of the IFR Database and Its Applications. MPRA Paper No. 110390. Goethe University, Frankfurt.; Federal Reserve Bank of St. Louis (FRED). (2025, August). Average Hourly Earnings of All Employees, Manufacturing. 6Kolodny, L., Elias, J. (2024, December 26). Waymo Dominated U.S. Robotaxi Market in 2024, but Tesla and Amazon’s Zoox Loom. CNBC. 7Global Newswire. Global Humanoid Robots Market Research 2026-2036. (2025, July 18). 8Campbell, H. (2025, February 28). Latest Waymo California Data Dump - Big Jump in Utilization! The Driverless Digest. 9Buchholz, K. (2025, June 27). Where Can You Order a Robotaxi? Statista Research. 10Global X ETFs illustration as of September 19, 2025 with information derived from: Fukuda, T., Dario, P., Yang, G.-Z. (2017, December 20). Humanoid Robotics – History, Current State of the Art, and Challenges. Science Robotics: Volume 2, Issue 13.; Goldman Sachs. (2022, November 15). Humanoid Robots: Sooner Than You Might Think.; Mende, M., Scott, M.L., van Doorn, J., Grewal, D., Shanks, I. (2019, April 22). Service Robots Rising: How Humanoid Robots Influence Service Experiences and Elicit Compensatory Consumer Responses. Journal of Marketing Research: Volume 56, Issue 4, pp. 535-556.; The Feed. (2024, January 22). Elon Musk Expects 1 Billion Humanoid Robots by 2040s. The Economic Times.