When people hear “humanoid robots by 2040”, many picture science fiction scenes. In late 2024, Elon Musk went further and said there could be at least 10 billion human shaped robots on Earth by that date, each costing about 20,000 to 25,000 US dollars. His claim points to a future where general purpose robots are as common as cars, phones, or even people.
This article explains what Musk actually said, what humanoid robots are today, what serious forecasts say about their growth, and how a world with millions or billions of such machines could change work and daily life.
Humanoid robots by 2040 in Elon Musk’s 10 billion claim
Musk’s statement and why 10 billion humanoid robots would be a huge leap from where robotics is today.
What exactly Musk said at the Riyadh conference
In October 2024, at the Future Investment Initiative conference in Riyadh, Saudi Arabia, Reuters reported that Elon Musk told the audience there would be at least 10 billion humanoid robots by 2040, with a price in the range of 20,000 to 25,000 US dollars per unit.
He was speaking as the head of Tesla, which is developing its Optimus humanoid robot. Musk framed humanoid robots as a way to solve labour shortages and to build a future where many physical tasks are handled by machines rather than people.
The key point is that this number is a prediction, not a measured fact. No one can yet know how many humanoid robots will exist in 2040.
Why 10 billion humanoid robots would be a massive leap
To see how bold this vision is, it helps to compare it with present data. According to the International Federation of Robotics, there were around 4 million industrial robots working in factories worldwide in 2023, with a little over half a million new units installed that year.
Most of these machines are not humanoid. They are robot arms or special purpose systems that weld, paint, move boxes, or handle parts on assembly lines. Adding up all industrial robots and service robots, the world today likely has a number in the low millions of robots in total, not billions.
Going from a few million robots of all kinds to 10 billion humanoid robots in about 15 years would mean growth of several orders of magnitude. It would also mean that human shaped robots outnumber human beings, since the world population is expected to reach roughly 9 to 10 billion people around 2040.
So Musk’s statement should be read as a very optimistic scenario that pushes the limits of what might be possible, rather than a central forecast that other experts agree on.
How humanoid robots today differ from classic industrial machines
Humanoid robots are still rare, expensive prototypes compared with the many simpler robots already in use. What makes them different?
From factory robot arms to walking general purpose robots
For decades, robots in factories have been fixed machines that do one narrow task very well. A welding arm repeats the same motion thousands of times. A pick and place robot moves small parts quickly from one tray to another. These robots are powerful, but they are not flexible or human shaped.
A humanoid robot, by contrast, is built to look and move roughly like a person. It usually has a head with sensors, a torso, two arms with hands, and two legs with feet. The goal is not just to look human, but to fit into spaces, tools, and workflows designed for people.
These robots need advanced balance control, strong but light motors, and smart software that can plan movement in real time. They also need safe behaviour around humans. That makes them much harder to design than fixed factory robots.
Examples: Tesla Optimus, Figure 01, Digit and others
Several companies are racing to build practical humanoid robots:
- Tesla is working on the Optimus robot, showing walking, lifting, and simple factory tasks in public demos. Musk sees Optimus as a future product that could work first inside Tesla plants and later in other places.
- Figure AI has built a robot called Figure 01, aiming at warehouse and industrial work. The company has shown the robot walking, handling packages, and manipulating tools.
- Agility Robotics has a biped robot named Digit, designed to move boxes and handle logistics work in warehouses, and has started pilot programs with large retailers.
- In China, companies like UBTECH and Unitree are building both humanoid and four legged robots and are expected to ship tens of thousands of units in the coming years.
All these systems are still in early stages. They can walk and do some tasks, but they are far from the science fiction picture of robots that can do any job a person can. They also cost much more than a car, and often require skilled teams to set up and monitor them.
Earlier pieces on AI wearables like Humane’s Ai Pin and on AI tools that enable humans to talk with whales show a similar pattern: impressive demos, real progress, but also strong limits compared with the hopes and marketing.
Market forecasts for humanoid robots versus Musk’s vision
Realistic market studies see fast growth for humanoid robots, but usually predict far fewer than 10 billion units this century.
What banks and analysts expect by 2040 and 2050
Banks and research firms have started to publish reports on humanoid robots as a new asset class.
- Morgan Stanley has suggested that the humanoid robot market could exceed 5 trillion US dollars by 2050, with around 1 billion humanoid robots in use, most of them in industry and services.
- A report cited by business media from UBS expects that there could be hundreds of millions of humanoid robots by around 2050, and that the market for the hardware, software, and services around them could reach 1 to 2 trillion US dollars.
- A 2025 report discussed by Bank of America points to perhaps 1 million humanoid robots sold per year by 2030, and several billion robots in service by 2060.
These numbers are still huge. Even 1 billion humanoid robots would be a profound change in how work and care are organized. But they are well below Musk’s figure of 10 billion by 2040.
Why predictions range from millions to billions of robots
Forecasts differ because they rely on assumptions about several uncertain points:
- How quickly hardware will get cheaper, such as motors, batteries, and sensors.
- How far AI will advance in planning, movement, and safe behavior.
- How governments will regulate robots in workplaces, public spaces, and homes.
- How much trust companies and the public will have in robots working around people.
If hardware costs fall sharply and AI improves faster than expected, adoption could speed up. If safety incidents, legal limits, or public resistance slow things down, the real number could be much lower.
Musk’s vision assumes very fast cost drops, a smooth regulatory path, and strong demand across almost every sector. More cautious forecasts factor in delays and setbacks.
How billions of humanoid robots could change work and daily life
Even if the world ends up with millions rather than billions of humanoid robots, their spread would still reshape many jobs and services.
Jobs they might do in factories, care, and services
In factories and warehouses, humanoid robots could take over tasks that are now hard to automate because they happen in spaces built for people. They could walk between shelves, climb stairs, and use existing tools and machines.
In care and health, humanoid robots might help move patients, deliver supplies, or support people who have trouble walking or lifting. In shops and hotels, they could handle cleaning, carrying luggage, or basic customer service.
In homes, simple humanoid robots might help with heavy housework like carrying laundry, moving furniture, or helping older adults with daily tasks. This would not remove all jobs, but it would change the mix of tasks humans do.
Risks, safety rules and social questions
A world with many humanoid robots raises hard questions:
- Safety: How do we make sure a heavy machine moving on legs does not injure people by mistake?
- Jobs: Which roles will disappear, which will change, and which new jobs will appear around designing, maintaining, and supervising robots?
- Rights and dignity: How do we treat people who receive care from machines? Do they have a say in where and when robots are used?
- Inequality: Will rich countries and companies get most of the benefits, while others fall behind?
Policymakers and companies are already discussing rules for AI and robotics. Clear guardrails will be needed if humanoid robots become common in public spaces, hospitals, and homes.
Technical, economic and ethical limits on 10 billion humanoid robots
To reach billions of humanoid robots, not just thousands, the world would need to solve problems in engineering, economics, and ethics.
Hardware and energy challenges
Humanoid robots need strong, precise motors in every joint, high capacity batteries, and many sensors. All of that uses metals, rare earth elements, and energy.
Mass producing 10 billion such robots would demand enormous supply chains and energy use. It could strain existing mining and manufacturing systems and raise environmental concerns. Engineers will need to design robots that are efficient, easy to repair, and easy to recycle at the end of their life.
Cost, regulation and public acceptance
Musk’s suggested price of 20,000 to 25,000 US dollars per humanoid robot is in the range of a mid priced car. To reach that level, production must scale up and designs must be simplified.
Regulation is another limit. Governments may not allow humanoid robots in certain roles, such as direct physical care of vulnerable people, until there is clear proof of safety. They may also set rules on data use, so that robots cannot record and share everything they see.
Finally, public acceptance matters. People may reject robots in some spaces, just as they sometimes reject new buildings or infrastructure. Trust will grow only if early deployments are transparent, safe, and clearly helpful.
Sources & related information
Reuters – Elon Musk: 10 billion humanoid robots by 2040 at $20K-$25K each – 2024
Reuters reported from the Future Investment Initiative conference in Riyadh that Elon Musk predicted there would be at least 10 billion humanoid robots by 2040, each costing about 20,000 to 25,000 US dollars, giving the main news hook for this article. The report is available at this Reuters technology story.
International Federation of Robotics – Record of 4 million robots in factories worldwide – 2024
The International Federation of Robotics publishes yearly data on the number of industrial robots in use. Its World Robotics 2024 report notes a record stock of around 4 million robots working in factories in 2023 and more than half a million new units installed that year, helping us compare Musk’s future numbers with present reality. You can read about it on the IFR press release on record robot numbers.
World Economic Forum – Humanoid robots offer disruption and promise. Here’s why – 2025
A World Economic Forum article explains how humanoid robots could spread across sectors like healthcare, public space maintenance, retail, and personal assistance, and notes that some analysts expect billions of humanoids operating by 2040. It also stresses the need for clear rules and safety standards as physical AI spreads. The piece is available on the World Economic Forum website.
Morgan Stanley – Humanoids: A 5 Trillion Dollar Market – 2025
Morgan Stanley analysts describe humanoid robots as a long term market that could exceed 5 trillion US dollars by 2050, with around 1 billion humanoid units in use, most in industrial and commercial roles. This more cautious forecast helps place Musk’s 10 billion figure in the wider range of expectations. The report is discussed in Morgan Stanley’s insight article on the humanoid robot market.
MarketWatch – 300 million humanoid robots are coming – 2025
MarketWatch reports on a UBS analysis that foresees up to hundreds of millions of humanoid robots in the workforce by 2050 and a market worth hundreds of billions to more than a trillion US dollars, depending on adoption speed. This source supports the idea that major financial institutions see large but not unlimited growth. You can find it in MarketWatch’s coverage of the UBS humanoid robot forecast.
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