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.
Industry Segments
The educational robots market globally has been segmented by component, type, application, and end-use.
In terms of component, the market is segmented into hardware and software, where the hardware segment is further categorized into sensors, CPUs, control systems, actuators, and others.
In terms of type, the market is split into humanoid and non-humanoid.
In terms of application, the market covers formal and informal education.
Major end-users segment includes elementary and high school education, higher education, and special education.
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Detailed Regional Outlook
Geographical-wise, the global educational robots market has been studied under the regions of North America, Europe, Asia Pacific, and the Rest Of the World.
North America is acknowledged to emerge as a leader in the educational robots market over the prediction period owing to the early adoption of the technology. The U.S. has the largest market share where highly promising research scenario in the robotics sector has eventually helped the growth of the educational robots market. Furthermore, factors such as augmented usage of tablets, mobiles, social media, and technical advancements in the North American region are the main factors that attribute to it becoming the largest region in this market. Also, the sturdy research and development scenario in the U.S. is likely to make it the lead of regional market for educational robots over the forecast period.
APAC region has observed to be showing immense growth in the forecast period, making it the fastest-growing region with steady progress in countries such as China. The key market players keep prioritizing the high-volume market in order to maximize their profits in this region. Hence, Comau, an Italian company, recently launched e.DO, a robotic to learn STEM as well as humanities topics, in China.
Key Players
SoftBank (Japan), BLUE FROG ROBOTICS (France), Aisoy Robotics (Spain), QIHAN Technology Co. (China), ROBOTIS (South Korea), ST Robot Co. (South Korea), Hanson Robotics (Hong Kong), PAL Robotics (Spain), Probotics America (US), Wonder Workshop (US), Ozobot & Evollve, Inc. (US), Makeblock, Co. Ltd (China), and Modular Robotics (US) are the leading players in the educational robots market.
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