In a January 2024 report, Goldman Sachs revised its projection for the humanoid robot market from US$6 billion to US$38 billion by 2035. The estimate for units sold rose to 1.4 million by 2035.

The driver is the drop in cost: Goldman points to a 40% annual reduction in production costs, compared to the 15-20% projected previously.

Defense is driving initial demand, but scale will depend on price. Today, each unit costs between US$30,000 and US$150,000.