More People Will Own a Humanoid Robot Than a Car by 2060, BofA Predicts

Bank of America (BofA) has projected that global humanoid robot ownership will surpass the number of cars by 2060, reaching 3 billion units compared to the current 1.5 billion vehicles. The prediction is based on demographic and labor market pressures, including aging populations, labor shortages, and rising costs of human labor. BofA also forecasts that 62% of these robots will be used in households by the end of the decade.

The humanoid robotics industry is currently transitioning from prototyping to commercial deployment, driven by advancements in AI, hardware, and labor market needs. Apptronik, a key player, raised $520 million in a funding round led by Google and Mercedes-Benz in early 2026, valuing the company at $5 billion. This investment highlights growing confidence in the commercial viability of humanoid robots.

Apptronik’s Apollo robot is already in pilot deployment at Mercedes-Benz manufacturing facilities for material handling, showing early signs of adoption in the automotive sector. Meanwhile, Mobileye’s acquisition of Mentee Robotics for $900 million underscores the overlap between autonomous driving and humanoid robotics, driven by shared technologies in embodied AI.

Why Did This Market Transition Happen Now?

The global humanoid robotics market is being propelled by persistent labor shortages and wage inflation across manufacturing and logistics. These factors are creating demand for automation solutions that can perform complex tasks traditionally handled by humans.

Investment in the sector has been surging, with China emerging as a leader in adoption and manufacturing. In the first nine months of 2025 alone, the Chinese robotics sector saw 610 financing deals totaling 50 billion yuan ($7 billion).

What Are the Key Technical and Commercial Barriers?

Despite growing interest, the industry still faces significant hurdles. Dexterous hands account for 31% of the bill of materials, and battery limitations restrict continuous operation to just 2-4 hours under industrial workloads.

To scale, the market must overcome four major barriers: certified fenceless safety, multi-shift uptime, dexterity/mobility reliability, and cost reduction to viable levels. These challenges are critical for transitioning from research and demonstration to structured commercial deployment.

How Is Investment Driving Market Growth?

The humanoid robotics market has seen substantial funding, with cumulative industry investments surpassing $9.8 billion in 2025. Apptronik’s recent $520 million round, backed by Google and Mercedes-Benz, is part of a broader trend of strategic investment from automotive OEMs and technology firms.

BofA forecasts that annual humanoid robot shipments will grow from 90,000 units in 2026 to 1.2 million by 2030. This rapid growth is supported by the declining cost of units, with Chinese manufacturers projected to bring prices down to under $17,000 by 2030.

What Does the Future Hold for Humanoid Robots?

The market is expected to follow three adoption waves: industrial applications (2025-2030), consumer/developer applications (2027-2033), and medical/elder care applications (2030-2036). This phased rollout aligns with technical progress and cost reduction milestones, with household adoption coming later in the timeline.

BofA’s 3 billion unit forecast for 2060 reflects a future where robots are deeply integrated into daily life. For now, the focus remains on overcoming technical and commercial barriers to enable broader deployment.

Investors and manufacturers are closely monitoring progress in embodied AI, battery technology, and supply chain capabilities, which will determine the speed and scale of adoption. As the industry moves forward, global investors are advised to track developments in China, where the sector is growing most rapidly.