Educational Robots Market Growth and Trends
Technological advancement in the domain of robotics, in a global economy characterized by cut-throat competition, is leading to an increasing demand for innovation in the form of educational robots, thus fuelling growth of the market. Until a decade ago, robots might have been considered only as a source of entertainment. However, the rise in artificial intelligence techniques is leading to a quick paradigm shift in knowledge transfer, where educational robots have a vital role to play. K-12 schools are expected to occupy a large market share due to the presence of companies at national and international level. Increased adoption of robots used for teaching in classrooms and also universities with a robotics department for developing ground-breaking robotic solutions for industrial as well as educational purposes directly effect high market growth rate. The objective of using educational robots is replacement of teachers but to add to the convenience of the entire learning process for the students, as they are actually an assortment of instructional curriculums, activities, enlightening resources, physical podiums, and educational philosophy. Robots being an assimilation of features that comprise sensors, control systems, power supplies, and software, are high-perming machines that add to their productivity as information is transmitted to learners rapidly, thus increasing product utility which fosters demand and subsequent market growth. It is highly effective to use educational robots in blended learning methodology which is on the rise in the education sector. Developmental tasks such as programming and testing, designing, building, are also performed effectively by robots.
Educational Robots Market shall reach a value of $3,149.9 Million in 2031, growing with a CAGR of 16.8% during the forecast period of 2022 to 2031.
A possible factor that is predicted to cause hindrance to the growth of the educational robots market is the high initial cost incurred on its research and development. Despite making sustainable progress, educational robots may suffer a potential threat of being disrupted by technical errors which would automatically affect their performance.
Educational Robots Market Regional Analysis
The educational robots market is growing at a very high rate: from $688.9 million in 2017 to $1690 million by 2023. The leading manufacturers and contributors to this Market are ROBOTICS (South Korea), PAL Robotics (Spain), Hanson Robotics (Hong Kong), Softbank (Japan), Quran Technology Co. (China), DST Robot Co. (South Korea), Aisoy Robotics (Spain), Probiotics America (US.), BLUE FROG ROBOTICS (France) and Wonder Workshop (US.). The central geographical regions contributing the most are North America and the Asia Pacific. It is estimated that the Asia Pacific would be the largest market in terms of revenue generation because countries like Japan, Australia, China, India, and other countries of Asia Pacific like Bangladesh, Indonesia, and Vietnam will grow at a fair rate. Saudi Arabian Government generated Saudi Data and Artificial Intelligence to increase the market and revenue.
Educational Robots Market Competition
Key companies operating in this industry are Fischertechnik, Lego, Modular Robotics, Robotis, Innovation First International, Pitsco, Parallax, Inc. and Evollve.
Coverage Highlights
• Educational Robots Market Revenue Estimation and Forecast (2022 – 2031)
• Production Estimation and Forecast (2022 – 2031)
• Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
• Breakdown of Revenue by Segments (2022 – 2031)
• Breakdown of Production by Segments (2022 – 2031)
• Breakdown of Sales Volume by Segments (2022 – 2031)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Educational Robots Market Segmentation
Product Outlook (Revenue, USD Million, 2022 - 2031)
• Wheeled robot
• Humanoid robot
• Others
Application Outlook (Revenue, USD Million, 2022 - 2031)
• Primary School
• Secondary School
• Others
Country (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Educational Robots Market Companies
• Fischertechnik
• Lego
• Modular Robotics
• Robotis
• Innovation First International
• Pitsco
• Parallax, Inc.
• Evollve
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