More people will own a humanoid robot than a car by 2060, BofA predicts

In a detailed research note, BofA Global Research projects that the global humanoid robot population will reach 3 billion units by 2060—surpassing the world’s roughly 1.5 billion cars on a per-capita basis. By that point, the bank estimates 62% of all humanoid robots, or roughly 2 billion units, will be deployed inside people’s homes. It’s a striking number for a product category with essentially zero market penetration today, but BofA points to an undeniable economic fact of 21st century life as a major motivator: there won’t be enough workers.​

The workforce problem robots are built to solve

The robot revolution won’t be driven by novelty. It will be driven by need. BofA analysts Lynelle Huskey and Vanessa Cook identified aging workforces, persistent labor shortages, wage inflation, and high employee turnover as the structural forces making humanoid labor economically attractive—and they stress that this will be true even before humanoids fully match human ability.

You don’t need a perfect robot. You need one that shows up, doesn’t quit, and costs less than the workers you can’t find.​

That pressure is global. In Japan, Germany, and South Korea, shrinking working-age populations have already strained manufacturing and services for years. In the U.S., wage growth in logistics, warehousing, and elder care has outpaced broader inflation. At the Humanoids Summit in December 2025, over 2,000 executives, engineers, and investors gathered to arrive at a blunt consensus view: “The question is really just how long it will take.” BofA is now putting a number on that timeline.​

From factories to living rooms

Before humanoids reach living rooms, they’ll spend years on loading docks and assembly lines. Counterpoint Research data cited in the BofA report projects that by 2027, 72% of all humanoid installations will be concentrated in warehousing and logistics (33%), automotive (24%), and manufacturing (15%). Retail and service applications account for just 12%. The household humanoid is a 2040s story. The robot that unloads your truck is a 2027 story.​

That industrial-first pattern is already visible in the deals being struck. UPS is in active talks with Figure AI to deploy humanoids across its logistics network. Tesla’s Optimus is logging paid hours inside Tesla’s own Gigafactories, with Musk targeting public sales by end of 2027—though he has warned the rollout will be “agonizingly slow.” Arm CEO Rene Haas said at Fortune Brainstorm AI in December predicted physical AI will automate “large sections” of factory work within five to ten 10, with general-purpose humanoids able to switch tasks on the fly in ways legacy industrial machines cannot.

$4.3 billion and accelerating

Investment tells the story of a sector that has decisively crossed from research to race. BofA estimated that funding for humanoid robotics surged from $0.7 billion in 2018 to $4.3 billion in 2025—a six-fold increase in seven years. As of January 2026, it found more than 50 companies actively building humanoids, with 150 commercial product launches already on record. BofA projects annual shipments will climb from 90,000 units in 2026 to 1.2 million by 2030, implying an 86% compound annual growth rate — a steeper trajectory than the early EV market.​

The cost curve is the engine behind that ramp. A Chinese-manufactured humanoid carried a bill-of-materials cost of $35,000 in 2025; BofA projects that falls below $17,000 by 2030. Western-built pilot-stage robots currently cost $90,000–$100,000 per unit to produce, meaning the compression still ahead is enormous. Norwegian startup 1X is already renting a household-capable humanoid for $499 a month, and Unitree’s G1 ships for $13,500—numbers that are already forcing Western competitors to accelerate their own cost roadmaps.​

The Skeptics Aren’t Wrong — Just Outvoted by the Math

The robot revolution isn’t without its critics, of course. MIT roboticist and iRobot co-founder Rodney Brooks said in September that Musk’s domestic robot vision is “pure fantasy thinking,” predicting that successful robots will have wheels and won’t look human. Wharton’s Peter Cappelli warned in the pages of Fortune last month that panic over robot-driven job displacement is premature. Meanwhile, Silicon Valley researchers remain more cautious on timelines than their Chinese counterparts, where government mandates and manufacturing scale are driving faster deployment.

Those critiques don’t invalidate a 35-year projection. But they underscore what BofA itself acknowledges: the path from today’s $35,000 factory robot to a 3-billion-unit world runs through a series of technology, regulatory, and economic hurdles that no forecast can fully model. What the bank is saying—and what founders and experts on the ground confirm—is that the demographic pressure is real, the capital is committed, and the cost curve is already moving. The cars-to-robots crossover may be the defining consumer technology story of the next three decades. Bank of America is simply the first to put a date on it.

For this story, Fortune journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing.