Market Insight
The Educational Robots Market is anticipated to develop with a higher percentage of CAGR while achieving revenues worth USD 1,540.28 Million by 2023 from USD 625.34 million in 2017. Educational robots play an integral role in the education sector. The global educational robots market depends on this factor significantly, which has primarily initiated the market towards growth graph.
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It is the robotics technology that impacts the Educational Robots Market, which keeps progressing continuously and strives for higher CAGR in the assessment period. The increasing automation in the education sector stands as one of the prime drivers for the market, which has enabled to adapt the needs of modern age study along with new additions as well. By this, currently, it has become more comfortable for the teachers to teach students and make their job easier in many ways. On the other side, the classrooms are becoming modern and have become the talking point of the industry, which has propelled the educational robots market over the years. Further, this factor has also been embracing automation in a significant way, which is anticipated to take the market towards high growth level during the forecast period.
One of the chief driving factors in the market is the increasing research & development in the robotics sector and playing as a substantial factor in the proliferation of global educational robots market. Educational robotics has improved infiltrating in robotic systems in every industrial sector, which has paved ways for more opportunities to come in the foreseeable years. Therefore, the progressive development of advanced and efficacious robotic systems is liable to become a significant driver for the educational robots market over the forecast period.
In the latest, the development of humanoid robots has shown a whistle-stop growth in the market and can bring a significant opportunity for key players in the coming years with the high adoption rate of educational robotics. However, due to the cost limitations, the market can witness a stifle growth graph in the coming years.
Global Educational Robots Market - Segmentation
The report is segmented into five dynamics;
By Component : Hardware (Sensors, CPUs, Control Systems, Actuators, others) and Software.
By Type : Humanoid and Non-Humanoid.
By Application : Formal Education (robot teachers and robot assistants) and Informal Education.
By End User : Elementary & High School Education, Higher Education, and Special Education.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
Global Educational Robots Market - Regional Analysis
North America dominates the global educational robots market. The largest market share attributes to augmented usage of the internet and smart connected devices, including tablets and mobiles. Besides, the proliferation of social media platforms and technological advancements in the region drive the growth of the market. Moreover, the sturdy research and development scenario accelerate the educational robots industry growth in North America.
The Asia Pacific region stands second in the global educational robots market. The market growth is driven by the escalating adoption of educational robots in the region. Additionally, enormous spending on research and development of robotics, AI, machine learning, and cognitive technologies increases the regional market size, driving educational robots' adoption.
Furthermore, substantial technological advances in robotics and the increasing demand for educational robots from the AM industry drive the growth of the market. Rapidly emerging APAC countries such as India and China hold a sizable share in the regional market due to the increasing investments for training in commercial and corporate activities. The Indian educational market has the maximum potential to proliferate during the forecast period.
The Europe Educational robots market has emerged as a promising market globally. European countries are initiating, transforming online education regulations, driving the regional market growth. Moreover, increasing R&D activities and modifications of robotic systems act as major tailwinds for the growth of the market. The rapid economic growth increased R&D activities, and the demand for educational robotics from the commercial sectors pushed the regional market growth.
Global Educational Robots Market - Competitive Analysis
Highly competitive, the Global Educational Robots market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market.
These players focus on new product developments and geographical expansion. The market is predicted to witness relentless innovations and new products, resulting in intense competition among manufacturers.
Major Players:
Players leading the Global Educational Robots market are Blue Frog Robotics (France), SoftBank (Japan), Aisoy Robotics (Spain), ROBOTIS (South Korea), QIHAN Technology Co. (China), ST Robot Co. (South Korea), PAL Robotics (Spain), Hanson Robotics (Hong Kong), Probotics America (US), Ozobot & Evollve, Inc. (US), Wonder Workshop (US), Modular Robotics (US), and Makeblock, Co. Ltd (China), among others.
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